Tag Archives: opec

Is OPEC about to break-up?

OPEC is an organisation made up of 12 oil-producing countries which operates as a cartel to try to control oil prices. It was formed in 1960 by Iran, Iraq, Kuwait, Venezuela and Saudi Arabia, with most of the rest of … Continue reading

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Oil prices and OPEC (part 2)

The International Energy Agency (IEA) has said that its members are going to sell some of their oil reserves to bring down the oil price. The idea is that this will help the global economy and stop it falling back … Continue reading

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Oil prices and OPEC

OPEC will meet today (8th June) to decide levels of production. The FT says this: ‘A large increase in production could damp current high prices, while a decision to maintain production levels would set the scene for a large drawdown … Continue reading

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