What is the impact of OPEC on the oil industry?

The Organization of the Petroleum Exporting Countries (OPEC) was established in 1960, referred to as OPEC, Iraq, Iran, Kuwait and other major oil producing countries in the world are OPEC members, OPEC production and reserves have a strong ability to intervene in the international market. The following gold investment will introduce you to the impact of OPEC on the project? Stupid hail.

To a large extent, it is affected by supply and demand, and OPEC means less, which generally supports oil prices. This is also not absolute, OPEC has two cases: active and passive.

1. Passive**.

Passive production cuts generally occur in some sudden times, such as the first oil crisis that broke out in the fuse of the fourth Middle East war, and OPEC countries must embargo, during which the **** hit a record high.

Because there is no plan for passivity, it will generally greatly change the fundamentals of the factors, if the front is relatively balanced, then the probability of passive after the first is skyrocketing.

2. Actively reduce production.

As the name suggests, OPEC considers stabilizing and improving, and actively reduces production. The OPEC ** production cut agreement and the possible real-time extension of the production cut agreement and the expansion of the scale of the production cut in the later stage are voluntary production cuts.

The initiative often appears in the period when the **** is weakening, that is, the **** has fallen to a certain extent, and OPEC is ** in order to safeguard the interests of member states.

OPEC is the main oil-producing country organization, more than 70% of the world's ** are exploited by them, is one of the absolute factors affecting the global oil **, his production changes have a very big impact on global oil prices, such as some time ago the United States used a large number of shale oil technology, so that oil prices plummeted, OPEC meeting announced that it would not cut production, oil prices immediately stopped the decline and began to **.

The impact of the data on the US side is also significant. The most important data is the EIA** inventory data of the United States, which directly reflects the global ** supply and demand situation, and it will be better after the release of the general data.

"OPEC" is a joint industry organization composed of the world's major oil producing countries, due to the strong background and the maintenance of the interests of member countries, its existence plays an important role in maintaining the stability of the international oil market, it is no exaggeration to say that the international oil price is basically controlled by it, almost no one can control it. This also makes it dare to compete with the United States, and the following is an introduction to its influence in terms of organizational background and influence.

1. A strong background gives it the ability to dominate the international oil market

"OPEC" is an economic organization between oil-producing countries, because the organization is an economic cooperation organization, so the decisions made by the organization can be implemented by member countries, which is different from the non-binding behavior of non-governmental organizations, so the strong background provides a solid backing for the tough posture of "OPEC" in the international arena, so that this organization can dominate the international oil market, intervene and contend with the United States.

2. A unified policy allows it to intervene in the production and sale of oil

As an economic cooperation organization, its important function is to maintain the stability of international oil and the economic interests of member countries. Therefore, in the face of international oil price turbulence, it can adjust the international oil production and sales by adjusting the way of oil production, so as to safeguard the economic interests of oil producing countries, which is also of great significance to the stability of international oil production. Because the organization is a first-class organization, there is a unified oil production and sales policy within the organization, so he can live in the international oil industry, even in a country like the United States, "OPEC" dares to contend with it.

As an important international economic organization, the existence of "OPEC" is conducive to the stability of international oil prices and can also safeguard the economic interests of oil-producing countries.

OPEC, which dares to confront the United States, is actually a member of the oil-producing organizations of some countries in the Middle East, and this organization can allocate the amount of oil produced to its member countries, so it confronts the United States for its own interests.

"OPEC" is an oil exporting organization that is freely organized among countries. In order to ensure the stability of international oil prices, it naturally has a great influence on the international oil market.

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OPEC is the Organization of Petroleum Exporting Countries, and its English abbreviation is OPEC (Organization of Petroleum Exporting Countries), and his Chinese pronunciation is OPEC.

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The translation and meaning of this word is as follows: an international organization designed to maintain the stability and vigor of the oil market. Any significant oil exporter that shares the organization's philosophy can become a member.

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The Organization of Petroleum Exporting Countries, or OPEC, is transliterated as OPEC in Chinese. Founded on September 14, 1960, OPEC was registered with the United Nations Secretariat on November 6, 1962 and became a formal international organization. Its purpose is to harmonize and unify the oil policies of the member countries and to safeguard their respective and common interests.

The 12 current Member States are: Saudi Arabia, Iraq, Iran, Kuwait, United Arab Emirates, Qatar, Libya, Nigeria, Algeria, Angola, Ecuador and Venezuela.

OPEC is the main oil-producing country organization, more than 70% of the world's ** are exploited by them, is one of the absolute factors affecting the global oil **, his production changes have a very big impact on global oil prices, such as some time ago the United States used a large number of shale stupid oil technology, so that oil prices plummeted, OPEC meeting announced that there would be no production cuts, oil prices immediately stopped the decline and began to **.

The data on the U.S. rock boom is also very impactful. The most important data is the EIA** inventory data of the United States, which directly reflects the global ** supply and demand situation.

In the end, the reason why this oil war broke out was not because of OPEC's inaction. First of all, the core reason for the outbreak of this oil ** war is because of the global outbreak of the new crown pneumonia virus. For example, in countries with very developed manufacturing industries such as China, the demand for oil has dropped instantly.

And the oil production of oil-producing countries will need to take some time to adjust. And among the secondary factors, as companies such as Tesla began to introduce electric vehicles into the private sector, the demand for oil began to decline somewhat.

The establishment of OPEC has provided a relatively mature channel for oil production, and it also requires oil exporting countries to have a very stable consumption and production channel, which has brought very large profits to the domestic economy and oil development of oil exporting countries.

First of all, we must know that the purpose of the establishment of "OPEC" is to solve the problem of oil-producing countries having bumper harvests, selling oil at a low price, and getting rid of the control of oil prices by Western countries. Since the establishment of OPEC, the above goals have basically been achieved, and now the control of oil prices by oil-producing countries has been significantly improved, and their incomes have been greatly increased. So the role of OPEC is still very huge.

Since its establishment, OPEC has been coordinating the changes in oil prices of various oil-importing countries to prevent these oil-exporting countries from plundering or raising oil prices because of their interests.

After the establishment of the Organization of the Petroleum Exporting Countries, the oil problem in the Saudi region was changed.