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| | OPEC - Wikipedia, the free encyclopedia |
 | | Unlike many other cartels, OPEC has been successful at increasing the price of oil for extended periods. | | | For example, when the dollar falls relative to the other currencies, OPEC-member states receive smaller revenues in other currencies for their oil, causing substantial cuts in their purchasing power, because they continue to sell oil in the U.S. dollar. | | | OPEC decisions have considerable influence on international oil prices. |
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http://en.wikipedia.org/wiki/OPEC
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| | ABOUT OPEC |
| | Prior to the crisis, the EIA Outlook indicated that unless the OPEC 10 eased off their new quotas, there was a very real possibility that these low inventories would create upward pressure on oil prices as the winter heating season approached. | | | In the last year and a half, OPEC appears to have been defending price at the expense of market share, a situation that might be changing. | | | OPEC members' national oil ministers meet regularly to discuss prices and, since 1982, to set crude oil production quotas. |
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http://sjalam.tripod.com/OPEC.htm
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| | OPEC-FACTSHEET |
| | OPEC revenues for all of 1998 will most likely be around $81 billion (in constant $1990). | | | For 1998 as a whole, OPEC is expected to earn $101 billion in oil export revenues, down 32% from $149 billion in 1997 (see Table 1). | | | Collapsing oil prices have thrown 1998 budgets for OPEC countries into chaos, as members scramble to cut expenditures, raise revenues, and minimize budget deficits. |
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http://www.irvl.net/OPEC-FACTSHEET.htm
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| | Alexander's Gas & Oil Connections - Price fluctuations call OPEC's attention to Russia |
| | OPEC denies that it is threatening a price war, but instead insists that it is looking for help in addressing the issues of declining demand and subsequent falling prices. | | | With OPEC refusing to make further production cuts without a commitment from non-members to follow suit, analysts have been left to conclude that a price war and a battle for market share might be on the way. | | | However, Saudi Oil Minister Naimi was adamant that this time OPEC would not cut production on its own. |
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http://www.gasandoil.com/goc/news/ntm15152.htm
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| | Raymond J. Learsy on OPEC on National Review Online |
| | OPEC is an ugly cartel, a sty in the eye of free trade and sound global economic policy. | | | OPEC would like to see these friendly sentiments result in output cuts to prop up prices: "Support is nice, but we should cash it in the bank," al-Attiyah said. | | | OPEC imposes a heavy tax on poorer nations, inhibiting their economic development. |
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http://www.nationalreview.com/comment/learsy200312040900.asp
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| | OPEC - Encyclopedia of Political Information |
| | The policy has been successful in the past, causing the prices of oil to rise to levels that otherwise are not reached by raw materials, but only by industry products. | | | Also, OPEC nations agreed on January 7, 1975 to raise crude oil prices by 10%. | | | Many maintain that it was US inflation that allowed such pricing power to global commodity producers. |
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http://www.politicalinformation.net/encyclopedia/OPEC.htm
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| | Free Markets Would Be OPEC's Undoing - Mises Institute |
| | And to the extent that OPEC sought to prevent a fall in price by equivalently curtailing its own production, it would be deprived of the full amount of the revenues it had earned on that production. | | | In addition, any maintenance of the high price by OPEC would serve only to put revenues and profits that it had been earning into the pockets of its American competitors, who would thereby have the financial means as well as the incentive to further expand at OPEC’s expense. | | | Based on an annual OPEC production of about 11 billion barrels of oil, every dollar that the average annual price of a barrel of oil can be made to fall means approximately $11 billion dollars a year less going to OPEC—and thus correspondingly less money directly or indirectly available with which to finance terrorism. |
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http://www.mises.org/fullarticle.asp?control=784
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| | OPEC - SourceWatch |
| | OPEC (http://www.opec.org/), the Organization of Petroleum Exporting Countries, is "an international Organization of eleven developing countries which are heavily reliant on oil revenues as their main source of income. | | | Each member of the OPEC cartel has an incentive to produce more than its quota and 'shave' (cut) this price because the cost of producing an additional barrel of crude is typically well below the cartel price. | | | Membership is open to any country which is a substantial net exporter of oil and which shares the ideals of the Organization. |
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http://www.sourcewatch.org/wiki.phtml?title=OPEC
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| | OPEC : Market Share within OPEC |
| | OPEC was setting benchmark prices for its various crudes. | | | Simply stated, for OPEC this means maintaining production levels which insure the highest prices possible without encouraging competition outside of OPEC or significant conservation measures on the part of consumers. | | | It is important to note that we are now looking at OPEC member's share within OPEC and not their share of total world production. |
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http://www.wtrg.com/opecshare.html
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| | CBS News OPEC Slashes Oil Production January 2, 2002 06:24:44 |
| | OPEC decided to proceed with the cuts even though rival, independent producers such as Russia and Norway promised reciprocal cuts that were smaller than expected. | | | OPEC's benchmark crude price averaged $18.68 a barrel Thursday, the most recent day for which information was compiled. | | | Although OPEC agreed in November to reduce production, it made its decision conditional on a reciprocal decrease of 500,000 barrels a day in output from major oil producers outside the group. |
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http://www.cbsnews.com/stories/2001/11/14/world/main318030.shtml
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| | USATODAY.com - OPEC approves cutting oil production |
| | OPEC's two other options — doing nothing and risking continued losses, or reducing the quota target and precipitating a new oil crisis — were clearly not appealing to members. | | | Still, the decision to meet again Jan. 20 was meant as a signal that OPEC was ready to defend current prices — a message driven home at the Cairo meeting by several oil ministers. | | | Their decision to try and end quota busting appeared to be a bid to reduce the risks both ways. |
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http://www.usatoday.com/money/industries/energy/2004-12-10-opec_x.htm
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| | Chronology of World Oil Market Events 1970 - 2003 |
| | OPEC meeting in Caracas establishes 55 percent as minimum tax rate and demands that posted prices be changed to reflect changes in foreign exchange rates. | | | OPEC decides on a 14.5 percent price increase for 1979, to be implemented quarterly. | | | OPEC issues press release vowing to "take appropriate measures" to protect OPEC interests in light of protectionist actions by certain countries. |
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http://www.eia.doe.gov/emeu/cabs/chron.html
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| | OPEC |
| | OPEC Membership is open to any country which is a substantial net exporter of oil and which shares the ideals of the Organization. | | | The Ministers of the OPEC MCs responsible for energy and hydrocarbon affairs meet twice a year to review the status of the international oil market and the forecasts for the future in order to agree upon appropriate actions which will promote stability in the oil market. | | | The MCs also hold other meetings at various levels of interest, including meetings of petroleum and economic experts, country representatives and special purpose bodies such as committees to address environmental affairs. |
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http://www.solcomhouse.com/OPEC.htm
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| | :: OPEC Fund for International Development :: Other Publications |
| | OPEC Aid, the OPEC Fund and Cooperation with Commercial Sources of Development Finance by Ibrahim F. Shihata, 1978. | | | Guidelines for Procurement under Loans Extended by the OPEC Fund for International Development, 1988 [English]. | | | The OPEC Fund's Experience in Project Financing with Local Counterpart Funds (1976-82) by Mehdi M. Ali, 1983. |
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http://www.opecfund.org/publications/other_publications.aspx
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| | OpinionJournal - The Real World |
| | Even in nonmember nations, OPEC's presence serves to shore up state meddling in the oil business, since OPEC fosters a system in which states, not private businesses, cut the major deals. | | | The Saudis are, of course, entitled to offer oil at any price they want, including the OPEC target price of $22 to $28 a barrel for oil that costs them $1 to $2 a barrel to produce. | | | Unfortunately, high prices are only part of OPEC's cost to the world. |
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http://www.opinionjournal.com/columnists/cRosett/?id=110003813
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| | OPEC considers move in early 2004 |
| | OPEC’s benchmark price stood at $28.43 on Dec. 2, the most recent day for which the group compiled data. | | | VIENNA, Austria, Dec. 4 — OPEC representatives began meeting Thursday to consider a possible production cut ahead of an expected decline in demand next spring, as Saudi Arabia’s oil minister played down concerns that the group might seek permanently higher crude prices. | | | Several members have said the group must be ready to curb production early next year to keep oil prices from tumbling. |
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http://www.msnbc.com/news/mobilechannel/1001134.asp?s=COM
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| | Under the Radar: OPEC's False Hope |
| | If correct, OPEC members will have ignored their own directive and, instead, simply come closer to fulfilling the previously announced reductions of 3.5 million bpd. | | | The production cut, formalized at Friday's gathering of OPEC ministers in Cairo, took nearly two months to sell to its own members. | | | Tyler Dann, director of energy research at Banc of America Securities and a member of the TSC Energy Roundtable, says OPEC members will pay little attention to the new cuts. |
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http://www.thestreet.com/comment/chrisedmonds/10005959.html
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| | Opec looks to non-Opec states for price changes -DAWN - International; October 7, 2003 |
| | But Opec’s policy of supply management to maintain prices within the group’s preferred 22 to 28 dollars a barrel price band implies a preparedness to cede market share to producers outside the organization, unless non-Opec producers contribute output cuts of their own as they did in 1999 and 2002. | | | However, if prices revert to their downwards trajectory, as some expect, both Opec and non-Opec officials will find it easier to agree to a common approach to cutting oil supply.—dpa | | | In earlier statements, the organization’s current president, Qatari Energy Minister Abdallah al-Attiyah, said Opec would not be prepared to cut below two million barrels per day without non-Opec contributions. |
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http://www.dawn.com/2003/10/07/int5.htm
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| | Alexander's Gas & Oil Connections - OPEC leaders defend their oil policies |
| | OPEC members repeatedly insisted they wouldn't make any production decisions, but participants haven't been able to escape the topic. | | | The crude oil price benchmark that OPEC follows has been trading at $ 29.15, up from $ 29.09, but down from $ 31 in mid September. | | | A price below $ 22 for 10 straight days will trigger a 500,000 barrel cut daily. |
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http://www.gasandoil.com/goc/news/ntm04275.htm
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| | Organization of Petroleum Exporting Countries |
| | Efforts by OPEC to control prices, however, have generally been less influential than market forces. | | | With the cooperation of non-OPEC oil-exporting nations, OPEC was able to raise prices in 1999 by cutting production. | | | Fairness measures and importance weights for allocating quotas to OPEC member countries. |
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http://www.infoplease.com/ce6/history/A0836844.html
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| | Bloomberg Printer-Friendly Page |
| | Normally, OPEC agrees to restrain supplies to prevent prices from falling. | | | Saudi Arabia's al-Naimi in Beirut said his nation wants to keep prices between $22 and $28 a barrel for the OPEC price benchmark. | | | The Algerian minister said he supported suspending the limits to show oil traders that prices should decline. |
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http://quote.bloomberg.com/apps/news?pid=71000001&refer=home&sid=aHYsXeITnM5Q
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| | TERI foresees 10% oil price rise as OPEC cuts production, new oil price benchmark soon: OPEC Secretary General |
| | On the issue of discounts on oil prices by OPEC for developing countries, Dr Araque indicated that it would not be possible for OPEC as an organisation to give price discounts to any nation. | | | OPEC supplies about 40 % of the global oil output, and possesses more than three-quarters of the world's total proven crude oil reserves. | | | On the OPEC oil price regime, TERI chief said that on the long term, such a regime brings stability in global prices and gives no room for complacency. |
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http://www.teriin.org/news/mar013.htm
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| | An MBendi Profile - Organisation: Organisation of Petroleum Exporting Countries |
| | OPEC also provides financial assistance to developing countries through its OPEC Fund for International Development. | | | OPEC publications include: OPEC Bulletin (monthly), OPEC Review (quarterly), Annual Report and Annual Statistical Review. | | | It also holds regular meetings of members' oil ministers to set production quotas and discuss oil prices. |
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http://mbendi.co.za/op.htm
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| | Forbes.com: CORRECTED - UPDATE 1-OPEC lifts oil price sights as dollar declines |
| | VIENNA, Dec 3 (Reuters) - OPEC producers on Wednesday said they were seeking to defend higher oil prices to compensate for the impact on the cartel's purchasing power of the U.S. dollar's decline on currency markets. | | | Influential Saudi Oil Minister Ali al-Naimi said prices, now at $30.70 a barrel for U.S. crude, were justified by the dollar's slump against other major currencies like the euro and the yen. | | | Many ministers and delegates said they saw no immediate requirement to follow up on September's shock agreement to slash output. |
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http://www.forbes.com/markets/commodities/newswire/2003/12/03/rtr1167662.html
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| | CNN.com - OPEC wants aid if world shifts to renewable energies - Dec. 12, 2003 |
| | A dispute over aid to OPEC states clouded the last day of a U.N. conference on global warming on Friday with the Kyoto protocol hanging by a thread amid uncertainties over Russian ratification. | | | A Special Climate Change Fund is likely to total about $50 million a year and would be bankrupted if it were to help OPEC states. | | | Row clouds last day of Kyoto climate talks |
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http://www.cnn.com/2003/TECH/science/12/12/climate.kyoto.reut
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| | Has the U.S. Joined OPEC? - An unanticipated burden of empire. By Timothy Noah |
| | They exceed their quota to make extra money, which is good for US taxpayers because it lowers the reconstruction funds Iraq requires from us. | | | As long as we consume more oil than Iraq produces, the total savings to US consumers is greater than the net loss to Iraq. | | | These considerations might well outweigh the economic benefits. |
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http://slate.msn.com/id/2081361
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| | ANALYSIS: OPEC Will Switch From The Dollar To The Euro. A Reemergence of the Ancient Roman Empire? |
| | The OPEC ministers were watching their valuable revenues become worth less and less all the time. | | | A switch by OPEC from the dollar to the euro, I realized, would immediately strike a blow against the U.S., lowering the dollar on world currency markets and placing inflationary pressure on our economy. | | | And economic planning is automatically easier for the country whose currency is pegged to OPEC's oil. |
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http://www.888webtoday.com/joyce8.html
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| | A brief history of OPEC |
| | OPEC's objective is 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; and a fair return on capital to those investing in the industry. | | | Environmental issues began to appear on the international agenda. | | | These were OPECâs formative years, with the Organization, which had started life as a group of five oil-producing, developing countries, seeking to assert its Member Countriesâ legitimate rights in an international oil market dominated by the âSeven Sistersâ multinational companies. |
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http://www.opec.org/aboutus/history/history.htm
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| | OPEC adjourns; no deal - Mar. 27, 2000 |
| | While all the ministers are in agreement to ease restrictions on output, they still are divided on exactly how much supply they want to unleash and where they want the price of oil to fall on the open market. | | | Oil touched near $32 a barrel earlier this month -- more than triple its value 15 months ago -- sending prices at the pumps above $2 a gallon and beyond in many parts of the United States. | | | Russia, which is not an OPEC member, also supports a freeze. |
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http://money.cnn.com/2000/03/27/worldbiz/opec_meeting
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| | Guardian Unlimited Special reports Opec members oppose Saudi oil boost |
| | Others in Opec see no economic damage from even higher prices, pointing out that the peaks of the 1970s, allowing for inflation, were equivalent to $80 a barrel in today's money. | | | Washington has expressed its concern over high prices, saying inflated energy costs could hurt economic growth, a worry shared by the chancellor, Gordon Brown. | | | With Opec's output close to September's 25-year high, even producer countries are showing signs of concern about their ability to meet rapid demand growth in the second half of the year. |
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http://www.guardian.co.uk/oil/story/0,11319,1438184,00.html
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| | :: OPEC Fund for International Development :: Home |
| | Since its inception in 1976, the Fund has provided billions of dollars in support of development in some of the most disadvantaged regions... | | | is an intergovernmental development finance institution which seeks to promote cooperation between member states of the Organization of the Petroleum Exporting Countries (OPEC) and other developing countries. | | | OPEC Fund supports eLearning on health for the public... |
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http://www.opecfund.org
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| | Organization of the Petroleum Exporting Countries |
| | OPEC will continue its proactive policy of supporting market stability by ensuring availability of adequate supply, at prices reasonable to both producers and consumers. | | | The Organization has also adopted a comprehensive long-term strategy at its Ministerial Conference which ended in Vienna on 20 September 2005... |
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http://www.opec.org
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| | Organization of Petroleum Exporting Countries - OPEC |
| | OPEC is a cartel that aims to manage the supply of oil in an effort to set the price of oil on the world market, in order to avoid fluctuations that might affect the economies of both producing and purchasing countries. | | | An organization consisting of the world's major oil-exporting nations, OPEC was founded in 1960 to coordinate the petroleum policies of its members and to provide member states with technical and economic aid. | | | OPEC membership is open to any country that is a substantial exporter of oil and that shares the ideals of the organization. |
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http://www.investopedia.com/terms/o/opec.asp
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| | Iraq - Oil - United States - Terrorism - OPEC - Worldpress.org |
| | The U.S. control of Iraq’s current potential production, which is roughly 11 percent of OPEC’s current production of 27.5 MBPD, will deny OPEC and the Saudi leaders the ability to dictate marginal changes in world oil supply. | | | So here is the link: Islamist terrorism is financed and spread by revenue earned from petroleum exports. | | | So the Bush strategy is to control Iraq, break OPEC’s stranglehold on oil markets, force oil prices down, and thus deny Islamist terrorism access to petroleum financing. |
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http://www.worldpress.org/Asia/748.cfm
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| | OPEC - Encyclopedia.WorldSearch |
| | They see the long run increase in oil prices, not as a result of OPEC's output restrictions, but as a result of monetary policy which since the early 1970s has abandoned the discipline of the gold standard, which allowed the growth of M1, which has lead to inflation, which increases the price of commodities. | | | Implied volatility of oil futures options surrounding OPEC meetings. | | | To them, a constricted supply of crude oil (a real variable) will have little effect in the long run. |
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http://encyclopedia.worldsearch.com/opec.htm
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| | CNN.com - OPEC meeting changes little - Oct. 29, 2001 |
| | Norway, the world's third-biggest exporter after Saudi Arabia and Russia, has said it will not restrict its 3.1 million bpd of production, which is budgeted to rise to 3.2 million next year. | | | But Mexico, which for two years has helped OPEC engineer a price boom with export curbs, is not the only reluctant partner now. | | | It is an uphill task for OPEC, which controls two-thirds of world exports, because few outside the cartel see their interest served by restricting output. |
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http://edition.cnn.com/2001/BUSINESS/10/29/opec
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| | Suing OPEC Timothy Noah |
| | To this end, OPEC Member Countries respond to market fundamentals and forecast developments by co-ordinating their petroleum policies. | | | OPEC might also reduce its oil production in response to market conditions in order to counter falling prices. | | | Next-day press accounts emphasized that Bush was telling the OPEC ministers not to "run the price of oil up." What they neglected to report was that Bush thought it was a |
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http://slate.msn.com/id/1008106
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| | OPEC agrees oil cut - Dec. 28, 2001 |
| | Russia, Norway, Mexico, Oman and Angola have offered to cut by a combined total of 462,500 bpd. | | | OPEC has lost share to the independent producers after implementing three production cuts this year. | | | OPEC had said in November it was prepared to implement its fourth round of production cuts in a year, but only if rival non-aligned countries that include Russia, Mexico and Norway, also restrained output. |
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http://money.cnn.com/2001/12/28/international/opec
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| | RIGZONE - OPEC |
| | But Reuters reported that "There is little OPEC can do to bring near record-high oil prices down, Algerian Energy and Mining Minister Chakib Khelil said on Tuesday. | | | OPEC Meets Only Half Its Goal of Reducing Production | | | Wednesday, September 28, 2005 - OPEC's acting Secretary General Adnan Shihab-Eldin said Wednesday that there were signs high global crude prices were affecting economies. |
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http://www.rigzone.com/news/company.asp?comp_id=110
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| | The Seattle Times: Nation & World: Saudi Arabia to ask OPEC to increase production of oil |
| | Analysts, however, predicted an increase would have little effect on soaring gasoline prices in the United States. | | | Analysts said a boost in the production ceiling might have little real effect, as most OPEC countries are already producing well over their quotas. | | | Naimi said the primary reason for higher oil prices is "the market's unwarranted fear of disruptions in supplies from some oil-producing countries and regions at a time when only the kingdom and probably two or three other countries have spare production capacity." |
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http://seattletimes.nwsource.com/html/nationworld/2001925354_moreoil11.html
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| | NHLBI: Office of Prevention, Education, and Control (OPEC) |
| | The NHLBI Office of Prevention, Education, and Control (OPEC) coordinates the dissemination of research findings and scientific consensus to health professionals, patients, and the public so that information can be adapted for and integrated into health care practice and individual health behavior. | | | The four largest programs have coordinating committees to help plan, implement, and evaluate program efforts in professional, patient, and public education, and spread the programs' messages to a wide range of audiences. | | | NHLBI: Office of Prevention, Education, and Control (OPEC) |
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http://www.nhlbi.nih.gov/about/opec
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| | CBC News:OPEC could raise oil production 'if necessary' |
| | But some OPEC members believe there's plenty of oil, and say the price rise was caused by political turmoil and speculation. | | | The International Energy Agency, which represents big consumers, has pointed at OPEC as the key reason that oil is trading for more than $40 US a barrel. | | | Raising the target to include oil already being produced, without actual volume increases, won't affect prices, they say. |
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http://www.cbc.ca/stories/2004/05/19/business/opec040519
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| | OPEC Review - Journal Information |
| | The OPEC Review publishes a selection of original analytical papers on energy economics and related issues, such as economic development and the environment. | | | Publication of the journal also underlines OPEC's long-standing commitment to fostering a deeper understanding of energy matters and their impact upon the world economy and the welfare of individual nations. | | | It provides a forum for information exchange among academics worldwide and the general enhancement of research. |
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http://www.blackwellpublishing.com/journal.asp?ref=0277-0180
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| | Middle East Open Encyclopedia: Iran |
| | Iran also is hoping to attract billions of dollars worth of foreign investment by creating a more favorable investment climate (i.e., reduced restrictions and duties on imports, creation of free-trade zones). | | | Iran is OPEC's second largest oil producer and holds 10% of the world's proven oil reserves. | | | It also has the world's second largest natural gas reserves (after Russia). |
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http://www.baghdadmuseum.org/ref/index.php?title=Iran
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| | Oil Spill Containment, Spill Kits - opec.co.uk |
| | OPEC endeavors to provide solutions to the majority of pollution problems in industry. | | | Welcome to the OPEC website, to view a product immediately use the menu below | | | Activities include oil skimmers to recover and eliminate oil spills, oil spill containment products, emergency spill kits, crude oil sludge control systems, steam jet refrigeration, bio-remediation product distribution, chemical cleaning solutions and much more... |
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http://www.opec.co.uk
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