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Essay

oil

Essay specific features

 

Issue:

History

 

Written by:

Janet P

 

Date added:

December 27, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 960

 

Was viewed:

914 times

 

Rating of current essay:

 
Essay content:

Then in 1960, many of the oil producing nations, from both the Middle East and elsewhere, formed a cartel to protect their interests. [Currently, OPEC is comprised of Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela. Large non-OPEC producers such as Mexico, Norway and Russia sometimes go along with the cartel position of the day...
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Large non-OPEC producers such as Mexico, Norway and Russia sometimes go along with the cartel position of the day.] The goal of OPEC was to present a common front in negotiations with the giant oil companies, which themselves worked closely together. OPEC set the stage for a new process in which the producer nations would eventually take over the functions of the companies, at least in production, and retain much more of the revenues...
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