Who Is OPEC And What Do They Do?

Written by The Money Lab Team on October 25th, 2017

Learn more about the one of the world’s most powerful organizations that you’ve barely heard of

It’s one of the most powerful organizations in the world.

I have no doubt you’ve come across the name OPEC at one stage or another, whether it be on the news, the radio, online, or some headline somewhere.

And that’s because OPEC is one of the most powerful forces in the oil industry.

In fact, did you know that OPEC is actually an intergovernmental organization comprised of 14 nations?

Better yet, were you aware that these 14 countries accounted for an estimated 44% of global oil production, not to mention 73% of the world's proven oil reserves?

That means that OPEC is one of the major influences on global oil prices.

For an organization you barely know, they’re really powerful!

But who exactly is OPEC, how did they come to exist, and how have they influence crude oil over the decades?

Let me show you…




Who Is Opec And What Do They Do?