Tuesday, 6th March we made an excursion to the OPEC. OPEC stands for “Organisation for the Petroleum Exporting Countries”. It is the oldest surviving intergovernmental organization consisting entirely of developing countries. Currently, twelve oil exporting countries are working together to coordinate their petroleum policies. They want to keep the world-wide oil market price steady.
We visited some seminar and conference rooms and we also heard a presentation about the organization and what exactly OPEC is doing. After that, we had a very interesting discussion with one of the PR-managers of the organisation. We talked about the role of the OPEC in the global oil market and about how “powerful” the influence of the OPEC in the world oil market is. The PR-manager told us, that the OPEC possessed 79 % of the world petroleum and that they only put 40 % of all available resources into the market. (3AGA)