Questions tagged [opec]

The Organization of the Petroleum Exporting Countries is an intergovernmental organization of 14 nations, founded on 14 September 1960 in Baghdad by the first five members, and headquartered since 1965 in Vienna, Austria.

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Why has Russia declined OPEC's request to cut oil production?

On Friday, Russia declined to participate in a plan devised by the Saudi-led Organization of the Petroleum Exporting Countries (OPEC) to cut oil production levels, in order to keep oil prices steady ...
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Why is Trump calling for OPEC to lower oil prices?

Donald Trump just called for OPEC to lower oil prices: We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and ...
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Why isn't Norway a part of OPEC?

Norway produces the fifth highest amount of oil per capita in the world, (and 15th unrelated to population) so why are they not a part of OPEC? What are the political reasons for this? I don't really ...