O rganization

P.etroleum
E.xporting
.

of the

C.ountries
PRESENTED BY
VAIBHAV

ABHISHEK

AKSHAY

ASHISH
ANURADHA

CHITRESH
BHAVANA

Oil

Life Blood of World Economy

OIL - One of the life bloods of our World

economy is oil
The impact of oil in todays economy has been
witness by consumers many times
We have seen how human spending and travel
got affected as the price of oil fluctuates. In
contrast almost all energies are generated
using oil, to mention few; Cars, Trucks,
railways, Plane, use oil in order to run their
engine

Influencing Factors For Price Rise Of

Petrol In India
Cost Of Crude Oil
Increased In Demand
Mismatch Of Supply And
Demand
Tax Burden

HISTORY
FOUNDED IN : Baghdad
Conference on September 10
14, 1960
IN EFFECT : JAN, 1961
FOUNDER MEMBERS : Iran,
Iraq, Kuwait, Saudi Arabia and
Venezuela
HEADQUARTER : Vienna,
Austria
SECRETARY GENERAL :
Abdallah Salem el-Badri

mISSION
To coordinate and unify the
Petroleum policies of its Member
Countries and ensure the
stabilization of oil markets in
order to secure an efficient,
economic and regular supply of
petroleum to consumers, a steady
income to producers and a fair
return on capital for those

OBJECTIVES
To co-ordinate and unify petroleum
policies among Member Countries, in
order to secure fair and stable prices
for petroleum producers

An efficient, economic and regular

supply of petroleum to consuming
nations

A fair return on capital

investing in the industry

to

those

OPEC

INTRODUCTION

It is a permanent intergovernmental
organization
Currently consisting of 12 oil producing
and exporting
countries, spread
continents America, Asia

across

three

and Africa.
Oil is the Key to development for these
countries

OPEC

MEMBERS OF
COUNTRIES

REGION

JOINED

OIL
PRODUCTIO
N
(bbl/day,
2014)

Algeria

Africa

1969

1,721,000

Angola

Africa

2007

1,756,000

Ecuador

South
America

1973-1992,
2007

556,000

Indonesia

Southeast
Asia

1962-2008,
2016

917,000

Iran

Middle East

1960

3,377,000

Iraq

Middle East

1960

3,364,000

Kuwait

Middle East

1960

2,767,000

Libya

Africa

1962

516,000

Nigeria

Africa

1971

2,428,000

Qatar

Middle East

1961

2,055,000

Middle East

1960

11,624,000

Saudi

OPEC Share of World

Crude Oil Reserves (In billion of barrels)
Total
World
1,337

NonOPEC
20%
272

.9
1,0
64

OPEC; 80%

All others; 5
Nigeria; 3%
Saudi Arabia; 25%
Libya; 4%
UAE; 9%
Kuwait; 10%

Source OPEC Official

Website

Venezuela; 20%
Iraq; 11%
Iran; 13%

THE OPEC CONFERENCES

The Conference generally meets
twice a
year, in March and September,
and in
extraordinary sessions whenever
required.

It operates on the principal of

unanimity
and one Member, one Vote.

It is responsible for the

formulation of the
general policy of the organisation,

FUCTIONING OF OPEC
o Representatives of OPEC
member Countries ( heads
of Delegation ) meet at the
OPEC
Conference
to
coordinate and unify their
petroleum policies in order
to promote stability and
harmony in the oil market.
o The Member Countries
consider
the
current
situation and forecast of
market fundamentals.
o Any changes to be made
in the petroleum policies
are considered.

ACHIEVEMENT @ 50
Secure and Steady
supply of
oil
Fifty year old A
success in
itself
Sustainable
Development
OPEC and the
Environment

THANK
YOU