Countries participants OPEC. OPEC countries: goals, influence, possibilities. Problems of organization and possible ways to solve them

Prerequisites for the establishment of countries of oil exporters (OPEC, the original abbreviation on english language - OPEC) There was a lack of opportunity among the states of the Middle East region and the Middle East to independently confront the neocolonist policy, which is carried out in spite of their interests, as well as the oversaturation of the global oil market. The result is a sharp decline in prices and a steady trend for further fall. Oil value fluctuations were tangible for well-established exporters, were uncontrollable, and the consequences are unpredictable.

To avoid the crisis and save the economy, representatives of the governments of Iraqi, Iran, Kuwait, Saudi Arabia and Venezuela met in Baghdad (September 10-14, 1960), where they decided to establish the organization of countries of oil exporters. After half a century for the global economy, this union remains one of the most influential, but not key. The number of OPEC countries periodically changed. now this 14 non-referral states.

Historical reference

To the Baghdad Conference Prices for Black Gold; Dictated to the oil cartel from the seven oil companies of Western powers, called "seven sisters". Becoming members of the Association of OPEC, the countries participating in the organization by joint efforts could affect the pricing and sales of oil. The history of the development of the organization in stages looks like this:

August 1960 The price drops to a critical mark after entering the oil isna of new players (USSR and the USA).
September 1960 in Baghdad there is a meeting of representatives of Iraq, Iran, Kuwait, Saudi Arabia, Venezuela. The latter initiated the creation of an OPEC organization.
1961-1962 The entry of Qatar (1961), Indonesia (1962), Libya (1962).
1965 The beginning of cooperation with the Economic and Social Council of the UN.
1965-1971 The number of association was replenished by the accession of Arab Emirates (1965), Algeria (1969), Nigeria (1971).
October 16, 1973 Introduction of the first quota.
1973-1975 Joining Ecuador Organization (1973) and Gabon (1975).
90s. Exit from OPEC Gabon (1995) and voluntary suspension of Ecuador's participation (1992).
2007-2008, the resumption of Ecuador (2007), suspension of Indonesia membership (January 2009 became an importer). Entry to the Union of Angola (2007). The observer becomes the Russian Federation (2008) without commitment to receive membership.
2016. Indonesia resumed membership in January 2016, but decided to again suspend his membership on November 30 of the same year.
july 2016 Gabon joined the organization again.
2017. Accession of Equatorial Guinea.

For 10 years from the date of the founding, members of the OPEC felt the rapid economic rise, which comes from 1974-1976. However, the next decade is marked by another fall in oil prices, and twice. It is easy to track the relationship between the described periods with the critical moments of the history of world development.

OPEC and global oil market

Object OPEC Object Oil, and to be accurate, its value. Opportunities that provide joint management of the segment of the oil product market allow:

protect the interests of states that are part of the organization;
ensure control of the stability of the cost of oil;
guarantee uninterrupted supplies to consumers;
provide the economies of participating countries stable income from oil production;
predict economic phenomena;
develop a unified industry development strategy.

Having the opportunity to control the volumes of oil sold, the organization puts themselves these goals. Now the level of production by participating countries is 35% or 2/3 of the total. All this is possible due to a clearly built-down mechanism.

Structure of Ores.

The community is organized in such a way that the decisions made do not oppose the interests of any of the countries of OPEC participants. The structured scheme, taking into account the significance of the divisions, it looks like this:

OPEC conference.
Secretariat S. secretary General at the head.
Council of Governors.
Committees.
Economic Commission.

The conference is a meeting held twice every year, in which the ministers of OPEC members discuss key strategic aspects and make decisions. Here are appointed representatives, one from each inbound statewho form the Board of Governors.

The Secretariat is appointed as a result of the meeting of the Commission, and the task of the Secretary-General is to represent the position of the organization when interactions with other associations. Whatever country is in OPEC, one person will present her interests (General Secretary). All its actions are a product of the decision taken by the management of decisions after collegial discussion at the conference.

OPEC

OPEC includes countries, the financial well-being of which directly depends on the oscillations of the world oilfish. Any state can apply an application. To date, the geopolitical composition of the organization looks like this.

Countries of Asia and the Arabian Peninsula in OPEC

This part of the world map is represented in OPEC Iran, Saudi Arabia, Kuwait, Iraq, Qatar, combined Arab Emirates and Indonesia (before the exit in January 2009). Although the latter has a different geographical locationHer interests are continuously intersecting with other Asian partners since the emergence of the Asia-Pacific Economic Cooperation Forum (ARAC).

For countries in the Arabian Peninsula, a monarchical board is characterized. The confrontations are not stopped by centuries, and from the middle of the twentieth century, people die for oil around the world. A series of conflicts will eat Iraq, Kuwait, Saudi Arabia. Wars ignite to destabilize the oil market, and as a result, increase the number of nefthllars earned, increasing the demand for oil.

Countries of South America included in OPEC

Latin America is represented by Venezuela and Ecuador. The first is the initiator of the Creating OPEC. State debts of Venezuela for last years rose. The reason is the political instability and the fall in prices in the global oil market. This state flourished only if the cost of barrel oil was higher than the average.

Ecuador is also unstable due to the availability of public debt 50% of GDP. And in 2016, the government had to pay 112 million dollars based on the results of the court. American Corporations Chevron for non-fulfillment of the obligations of the adopted 4 decades ago, as part of the development of South American oil fields. For a small state, this is a significant part of the budget.

Africa and OPEC countries

OPEC actions protect the welfare of 6 African countries out of 54. Namely, interests:

Gabon;
Equatorial Guinea;
Angola;
Libya;
Nigeria;
Algeria.

This region has high numbers of population, as well as unemployment and the number of people who are below the poverty line. Again, the price of the low price of barrel oil, a high level of competition and the oversaturation of the oil market with raw materials.

Cotors of guardians of influence on the global economy

The raw material production quota is an oil export rate established for community members. October 1973 became the moment of signing an agreement on the decline in 5%. The decision to change the amount of production was supposed to raise the price of 70%. These steps were the consequence of the unleashing of the "War of the Day of the Day", in which Syria, Egypt, Israel participated.

An next agreement on reducing the level of oil production adopted the day after the introduction of the first quota. The USA, Japan and Some Western European countries were imposed embargo. During the month, the quotas defining how many barrels of oil per day were introduced and canceled for sale, at what price to sell extracted raw materials.

For decades, practice has repeatedly confirmed the effectiveness of these impact levers, proving the power of the community of exporters. Officer production OPEC decisions are accepted after discussing the issues of representatives of the participating countries.

Russia and OPEC

The impact of the exporters community has decreased in recent years, which led to the impossibility of conducting monopoly policies, imposing unprofitable conditions. This became possible after entering the arena of oil miners from China, the United States, the Russian Federation. In order for the actions of the community of oil exporting countries under control (did not go beyond when they could harm member states), the Russian Federation represented by the Government assumed the role of an observer. Russia is an official observer in OPEC, at the same time representing counterweights. It has the ability to reduce the price of barrel by increasing production levels, thereby influence the global market.

OPEC problems

The main difficulties with which you have to fight are concluded in the following theses:

7 of 14 members are in a state of war.
Technological imperfection, lagging behind progress, feudal atavism of the state system of some participating countries.
Neophrication, lack of qualified personnel at all levels of production of most participating countries.
The financial illiteracy of the Government of most OPEC member countries, unable to manage a large profit.
The increase in the influence (resistance) of states that are not among the members of the coalition.

Under the action of these factors, Ores ceased to be a leading regulator of the stability of the commodity market and the liquidity of petrodollar.

Organization of oil exporters, founded in 1960 nearby countries (Algeria, Ecuador, Indonesia, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates and Venezuela) in order to coordinate actions in terms of sales and prices for crude prices oil.

Due to the fact that OPEC controls approximately half of the world volume of oil trafficking, it is able to significantly affect the level of world prices. The share of the oil carriage, which in 1962 is registered with the UN as a full intergovernmental organization, accounts for about 40% of the global oil production.

Brief economic characteristics of OPEC member states (in 2005)

	Algeria	Indonesia	Iran	Iraq	Kuwait	Libya	Nigeria	Qatar	Saudi Arabia	UAE	Venezuela
Population (thousand people)	32,906	217,99	68,6	28,832	2,76	5,853	131,759	824	23,956	4,5	26,756
Area (kM 2)	2,382	1,904	1,648	438	18	1,76	924	11	2,15	84	916
Population density (man at km 2)	14	114	42	66	153	3	143	75	11	54	29
GDP per capita ($)	3,113	1,29	2,863	1,063	27,028	6,618	752	45,937	12,931	29,367	5,24
GDP in market prices (million $)	102,439	281,16	196,409	30,647	74,598	38,735	99,147	37,852	309,772	132,15	140,192
Export volume (million $)	45,631	86,179	60,012	24,027	45,011	28,7	47,928	24,386	174,635	111,116	55,487
Oil export volume (million $)	32,882	9,248	48,286	23,4	42,583	28,324	46,77	18,634	164,71	49,7	48,059
Current balance (million $)	17,615	2,996	13,268	-6,505	32,627	10,726	25,573	7,063	87,132	18,54	25,359
Confirmed oil reserves (mln barrels)	12,27	4,301	136,27	115	101,5	41,464	36,22	15,207	264,211	97,8	80,012
Confirmed natural gas reserves (billion cubic meters)	4,58	2,769	27,58	3,17	1,557	1,491	5,152	25,783	6,9	6,06	4,315
The amount of extraction of crude oil (1,000 bar / day)	1,352	1,059	4,092	1,913	2,573	1,693	2,366	766	9,353	2,378	3,128
The amount of natural gas production (million cubic meters / day)	89,235	76	94,55	2,65	12,2	11,7	21,8	43,5	71,24	46,6	28,9
Oil processing capacity (1,000 bar / day)	462	1,057	1,474	603	936	380	445	80	2,091	466	1,054
Lifetime of petroleum products (1,000 bar / day)	452	1,054	1,44	477	911	460	388	119	1,974	442	1,198
Consumption of petroleum products (1,000 bar / day)	246	1,14	1,512	514	249	243	253	60	1,227	204	506
Export volume of crude oil (1,000 bar / day)	970	374	2,395	1,472	1,65	1,306	2,326	677	7,209	2,195	2,198
Export volume of petroleum products (1,000 bar / day)	464	142	402	14	614	163	49	77	1,385	509	609
The volume of exports of natural gas (million cubic meters)	64,266	36,6	4,735	--	--	5,4	12	27,6	7,499	--

The main goals of OPEC

The main objectives of creating an organization are:

Coordination and unification of the oil policy of Member States.
Determining the most effective individual and collective means to protect their interests.
Ensuring the price stability in world oil markets.
Attention to the interests of oil producers and the need to ensure: sustainable incomes of oil producers; effective, profitable and regular supply of consumer countries; fair income from investment in the oil industry; Security ambient In the interests of the current and future generations.
superficiation with ECEC countries in order to implement initiatives to stabilize the global oil market.

Only founding members and those countries whose reception applications were approved by the conference can be full members. Any other country, in significant sizes, exporting crude oil and has interests, at its base, similar to the interests of member countries can become a full member, provided that its adoption will be approved by a majority of 3/4 of the votes, including the vote of all founders.

OPEC organizational structure

The Supreme Organ of OPECs is the conference of ministers of states within the organization, the Board of Directors also operates, in which each country is represented by one delegate. It, as a rule, attracts the closest attention not only to the press, but also key players in the global oil market. The conference determines the main directions of OPEC policies, paths and means of their practical implementation and makes decisions on reports and recommendations provided by the Board of Governors, as well as on the budget. She instructs the Council to prepare reports and recommendations on any matters of interest to the organization. The conference forms the Board of Governors and the Council of the Governors (one representative from the country, as a rule, is ministers of oil producing industry or energy). She also chooses the president and appoints the Secretary General of the Organization.

The Secretariat exercises its functions under the guidance of the Board of Governors. The Secretary-General is the highest official of the organization, the authorized representative of OPEC and the head of the secretariat. It organizes and manages the work of the organization. The structure of the OPEC Secretariat includes three departments.

The Economic Commission of OPEC is engaged in promoting stability in international oil markets at fair levels of prices, so that oil can keep its value as a primary global energy source in accordance with OPEC tasks, conducts careful monitoring of changes in energy markets and informs the Conference on these changes. .

The history of the development and activities of OPEC

The task of OPEC since the 1960s was the representation of the unified position of oil producers in order to limit the influence of the largest oil companies to the market. However, actually OPEC in the period from 1960 to 1973. The placement of forces in the oil market could not change. Significant adjustments to the arrangement of forces made a sudden war between Egypt and Syria in October 1973, on the one hand, and Israel, on the other. With the support of the United States, Israel managed to quickly return the lost territories and already in November sign agreements on the cease-fire with Syria and Egypt.

October 17, 1973 OPEC opposed the US policy, introducing an embargo on oil supplies to this country and increased by 70% vacation prices for the United States Western European Allies. On one night barrel oil rose in price from $ 3 to $ 5.11. (In January 1974, OPEC raised the price for one barrel to $ 11.65). The embargo was introduced at the moment when about 85% of US citizens were accustomed to the workplace on their own car. Although Nixon's president introduced severe restrictive measures to use energy resources, the situation could not be saved, and a period of economic downturn came for Western countries. At the peak of the crisis, the price of gallon gasoline in the United States rose from 30 cents to $ 1.2.

The Wall Street reaction was instantaneous. Naturally, on the wave of superfrees, the shares of oil-producing companies went up, but all other shares from October 17 until the end of November 1973 lost an average of 15%. Dow Jones index dropped from 962 to 822 points. In March 1974, the embargo against the United States was removed, but the effect that it produced was not able to smooth. For two years, from January 11, 1973 to December 6, 1974 Dow fell by almost 45% - from 1051 to 577 points.

Revenues from the sale of oil for the main Arab oil producers in 1973-1978. Grew by unprecedented pace. For example, Saudi Arabia revenues increased from $ 4.35 billion to $ 36 billion, Kuwait - from $ 1.7 billion to $ 9.2 billion, Iraq - from $ 1.8 billion to $ 23.6 billion.

At the wave of high income from oil in 1976, OPEC created an OPEC International Development Foundation - Multilateral Financial Institute in Development. His headquarters is also located in Vienna. The fund is intended to promote cooperation between OPEC member states and other developing countries. International Institutionswhose activities benefit developing countries, and all non-OPECs developing countries can use the Foundation. The OPEC Foundation provides loans (on preferential terms) of three types: for projects, programs and pay balance support. Resources consist of voluntary contributions from Member States and profits obtained by the Fund's investment and credit operations.

However, by the end of the 70s, oil consumption began to decline over a variety of reasons. First, the oil market has increased the activity of non-OPEC countries. Secondly, the general decline in the economy of Western countries began to appear. Thirdly, certain fruits brought efforts to reduce energy consumption. In addition, the United States concerned about possible shocks in oil-producing countries, the high activity of the USSR in the region, especially after the introduction of Soviet troops in Afghanistan, was ready in the event of a repetition of the oil supply situation to use military power. Ultimately, oil prices began to decline.

Despite all the measures taken, in 1978, the second oil crisis broke out. The main reasons were the revolution in Iran and the political resonance, which aroused an agreement in Kemp-Devide between Israel and Egypt. By 1981, the price of oil reached $ 40 per barrel.

The weakness of OPEC was fully manifested in the early 1980s, when as a result of the full-scale development of new oil fields outside the OPEC countries, the widespread introduction of energy-saving technologies and economic stagnation, the demand for imported oil in industrialized countries has declined sharply, and prices have fallen almost twice. After that, in the oil market for 5 years, calm and smooth decline in oil prices were observed. However, when in December 1985, OPEC sharply increased oil production - up to 18 million bar / day, a real price war began, provoked by Saudi Arabia. Its result was that over several months, raw oil fell more than twice - from 27 to $ 12 per barrel.

The fourth oil crisis broke out in 1990. On August 2, Iraq attacked Kuwait, prices jumped from $ 19 per barrel in July to 36 in October. However, then oil fell to its previous level before the start of the operation of the "storm in the desert", which ended with Military defeat of Iraq and the country's economic blockade. Despite the permanent overproduction of oil in most OPEC countries and increased competition from other oil-producing countries, oil prices have remained relatively stable compared to those fluctuations that they have experienced in the 1980s.

However, at the end of 1997, the fall in oil prices began, and in 1998, the global oil market covered an unprecedented crisis. Analysts and experts lead many different reasons for this sharp drop in oil prices. Many tend to impose all the guilt on the decision of the OPEC, adopted at the end of November 1997 in Jakarta (Indonesia), to increase the ceiling of oil production, as a result of which additional oil volumes were supposed to the markets, and there was a decrease in prices for it. The efforts undertaken by Member States and ECEC countries in 1998, no doubt played a crucial role in preventing the further collapse of the global oil market. Do not be taken, and the price of oil, according to some experts, could fall up to 6-7 dollars per barrel.

Problems of development of OPEC countries

One of the main disadvantages of OPEC is that it combines countries whose interests are often opposite. Saudi Arabia and other countries of the Arabian Peninsula are among the incomplete, but have enormous oil reserves, large investments from abroad and maintain very close relations with Western oil companies.

For other countries that are members of countries, such as Nigeria, are characterized by a high population and poverty, they are implementing expensive economic development programs and have a huge debt.

The second, it would seem, a simple problem is a banal "where to make money". After all, it is not always easy to properly dispose of the Pelhopollara on the country. The monarchs and rulers of the countries that wealth collapsed, they sought to use it "into the glory of their own people" and therefore climbed various "construction of the century" and other similar projects that cannot be called a reasonable investment of capital. Only later, when Euphoria was held from the first happiness, when the dust cooled a little due to the fall in oil prices and reducing state revenues, the funds of the state budget began to be spent more reasonably and competently.

The third, the main problem is compensation for the technological retardation of OPEC countries from leading countries of the world. After all, by the time of the organization of the organization, some of the countries belonging to its composition have not yet got rid of the remnants of the feudal system! The solution to such a problem could be accelerated industrialization and urbanization. The introduction of new technologies in production and, accordingly, the life of people has not passed without a trace for the people. The main stages of industrialization were the nationalization of some foreign companies, such as Aramko in Saudi Arabia, and the active attraction of private capital into industry. This was carried out by comprehensive state aid to the private sector of the economy. For example, in the same Arabia, 6 special banks and foundations were created, which assisted entrepreneurs under the guarantee of the state.

The fourth problem is the insufficient qualifications of national personnel. The fact is that workers in the state turned out to be unprepared to the introduction of new technologies and were unable to serve modern machines and equipment that was delivered at oil-producing and processing enterprises, as well as other factories and enterprises. The decision of this problem was the attraction of foreign specialists. It was not as easy as it seems. Because it soon gave rise to a lot of contradictions that all intensified with the development of society.

Thus, all eleven countries are in deep dependence on the revenues of their oil industry. Perhaps the only OPEC countries representing an exception is Indonesia, which receives substantial revenues from tourism, forest, gas sales and other raw materials. For the rest of the OPEC countries, the level of dependence on oil exports varies from the lowest - 48% in the case of the combined Arab Emirates to 97% in Nigeria.

Incakes of OPECs at the price of oil are one of the most important factors of fundamental analysis. They depends on the dynamics of bidding with this product.

Today you will learn what OPEC is and as OPEC oil exporting countries affect the extraction of raw materials, which is the organization, how it regulates black gold quotas from earthly subsoil, which relations with Russia and many other important for the trader and Investor issues.

What is OPEC (OPEC) simple words

- this is international Organizationwhich unites the Governments of 15 Oil Exporting Countries. Initially, it consisted of 5 countries: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. She was created during the Baghdad Conference in 1960. In the future, other states were joined to this country, such as Qatar, Libya, UAE, Nigeria and others. Indonesia and Gabon were also members of this organization at one time, but now they are not in its composition.

OPEC is a reduction from The Organization of The Petroleum Exporting Countries (OPEC) - Organization of Oil Exporters.

From 1960 to 1965, the headquarters of OPEC oil exporters were in Geneva, but in September 1965 it began to be constantly posted in Vienna.

The purpose of the organization is to associate oil exporters to regulate economic policies in this industry: to ensure adequate prices for ferrous gold, ensure permanent and fair supply to consumer countries.

OPEC is simple words - this is an international organization established in order to all exporters of oil and its consumers it was good.

Wikipedia says OPEC is an organization that controls two thirds of all oil reserves existing in the world. About thirds of black gold and half of exports fall into 15 countries that are part of this organization.

OPEC countries and OPEC oil production

Today, the organization includes 15 countries (countries OPEC oil exporters):

Kuwait.
Qatar.
Algeria.
Libya.
Iraq.
Equatorial Guinea.
Venezuela.
Iran.
Nigeria.
Congo.
Gabon.
Ecuador.
Angola.

Despite the fact that the organization includes countries of OPEC oil exporters from various parts of the world, the Kingdom of Saudi Arabia (CSA) has the greatest influence, as well as other states located on the Arabian Peninsula.

The thing is that it is CSA who has the ability to extract a huge amount of oil, while other states have both smaller oil reserves and less modern technologies.

For this reason, the organization's policy is largely determined by the monarchies of the Arabian Peninsula, although Iran, Venezuela and other countries also have the right to vote.

OPEC countries, like other states of the world, are involved in world politics, therefore forced to follow different kinds of trends.

For example, Iran, for a long time, which has been under Western sanctions, in recent years, participated in OPEC cases less and less, because its oil did not buy, fearing hostile actions by the country, which introduced these sanctions (USA, Britain and other states). If in the past, the headquarters of this organization was in Swiss Geneva, today it is located in the capital of Austria - Vienna.

This organization includes dependentfrom state of state. Any state can apply for entry. Consider the states that are part of this intergovernmental organization in more detail.

Countries of Asia and the Arabian Peninsula

This category includes Iran, Iraq, Qatar, Kuwait, UAE and Saudi Arabia. Until January 2009, Indonesia was also in this list. The countries of this category are characterized by a monarchist system. They constantly occur conflicts for black gold from the middle of the twentieth century. In particular, wars are created specifically for destabilizing the market for this raw material.

South American countries

The composition of this category includes Venezuela and Ecuador. The first was one of the initiators of creating this organization. Recently, the economic situation of this country leaves much to be desired. Her debt grew due to the political crisis and reducing oil prices. At one time, this country was rather developed because oil was expensive. An example with Venezuela tells us how important a diversification is.

As for Ecuador, this country has a very large amount of public debt ( half from GDP). In addition, for non-fulfillment of obligations of the forty years ago, she had to pay $ 112 million, which was very strongly uttering the economy.

African countries

For this country is characteristic low level Life including due to the oversaturation of the oil market. In addition, in these OPEC member states, a very large population at high unemployment.

How OPEC affects the price of oil in the examples

OPEC quotas for oil production are powerful tools of influence on the price of black gold, which are designed to reduce the supply at high demand. This practice has shown its high efficiency for several decades.

Quota is the amount of oil that can be supplied to the participants of this intergovernmental organization.

For the first time, this tool was applied in 1973, when the release size was reduced by 5%. As a result, the cost of black gold rose by 70%. Another consequence of such a decision is a war where Israel, Syria and Egypt were the parties to the conflict.

When the participants in this organization make a decision, trading activity in financial markets sharply increases, and this is a good opportunity to earn a trader.

Main solutions for OPEC on oil OPEC solution for oil price:

The main task of this organization concludes countries in coordination of countries that supply oil into oil markets. The organization is engaged in the unification of oil policy, which is very important both for the organization as a whole and for each exporting country separately.
Another OPEC task is to stabilize oil supplies, however, as history has shown, in reality it is not. Many OPEC countries (with the exception of developed states of the Arabian Peninsula) are the countries of the Third World, which do not have neither technologies or military power. CSA and other Arab countries can live without oil, but for other states, oil is the only source of income (for example, Iran and Gabon). As a result, they use oil as a weapon, constantly threatening with another world state by oil blockade in the event of non-fulfillment of any solutions.

Iran is constantly threatened with an attack on American vessels that guard peace in the Arab Bay, demanding to relieve sanctions.

The effect of OPEC is carried out in about the same way as the influence of any other organization. In some cases, OPEC countries can reduce oil production, which will lead to an increase in its value. They can also introduce an embargo on the supply of oil.

In the last century, this led to the energy crisis in Western Europe, when some EU countries refused to support Arab countries during a defensive war with Israel. After that, the whole world had shielded frames, as the head of the Netherlands was forced to get a job on a bike.

OPEC also tries to coordinate its actions with Russia in order to more effectively influence world prices.

Some Western countries believe that OPECs gradually monopolizes the oil market and is trying to exclude Iran from the cartel, so this country is subject to sanctions by many states of the world and one of their presence at the negotiation table discredits OPEC.

Despite numerous accusations, OPEC plays an extremely important role in the global economy and politics, since even the most advanced technologies are not able to replace oil, which is the main source of energy on the planet.

OPEC oil production - quotas and regulation

The magnitude of the production of OPEC oil production is affected by the world situation on the black gold market. Additional element of regulation is control over compliance with the agreements between the participating countries. Another key concept of regulation is the "price corridor". If the price goes beyond its limits, the meeting is going, and the participants agree to adjust the quotas in such a way that the quotes for raw materials are maintained in the established limit.

Cutting OPEC oil - simple but effective method regulation of this market.

Oil production quotas are established on the basis of oil reserves and technologies that are in the country for its production. That is why the largest amount of oil to the market supplies CSA. This country is the country of cartel that has new technologies and is capable of using one of the strongest world armies to ensure safety of oil supplies to any point of land.

Also, oil supply quotas can be reduced if the prices for "Black Gold" fall. Some EU countries believe that thus the cartel artificially overstars prices, but this is the sovereign right of all participants in the cartel.

Also, OPEC policy in the past made it possible to form a unified policy of the fight against oil corporations. As a result, the attitude towards the participants of the cartel has changed, and the authority of this world organization. Since the organization includes almost all the largest oil suppliers, the effectiveness of solutions of this organization is not questionable.

Basket of OPEC and the cost of oil

For the first time about the basket of OPEC oil prices began to speak in 1987. This is a prefabricated concept that includes prices of all varieties of oil produced in the participating countries from which the arithmetic averages were derived.

The price corridor is established, based on the cost of the basket. Its the largest price was recorded on July 3, 2008, when the average price of oil supplied to the state of states was at the level of almost $ 141 per barrel.

Interesting situation about Indonesia. Despite the fact that in 2009 she came out of OPEC, its oil in 2016 was included in the basket.

History of OPEC relations with Russia

In the USSR in the 60s of the last century, the attitude towards OPEC was initially positive, because this organization served as a real counterweight oil monopolies of the West in conditions Cold War. Soviet leaders then believed that if it were not for a certain brake in the face of the US allies among developed Middle Eastern states, then the countries of OPEC could go almost along the path of communism at all, although it was impossible. This, as the future showed, did not happen.

At the same time, the USSR was as it were, as it were, "aside" and in no hurry to join the composition of the organization just created, even despite the allies in it. The Soviet Union did not like the then Charter of the Organization in particular, the inability to become a member of the first grade. After all, they could only become the founder. In addition, there were points that are not compatible with the command economy (in particular, about investments from the Western countries).

For the first time, OPEC was brought to the top of world politics during the first energy crisis of 1973-74. He broke out as a result of the oil embargo, which was introduced by the oil-producing Arab countries against the Western countries - the allies of Israel, and supported this campaign to fully. Then many Western countries returned to the Middle Ages, as they have ended fuel and energy stocks. After this case, world prices made a sharp three-year leap and brought the global oil market to a completely new stage of development.

At that time, the USSR, already in the number of the world's largest "black gold" suppliers, even considered the possibility of direct accession to OPEC, where his usters of the USSR Iraq, Algeria and Libya played not the last roles. Nevertheless, before the entry, the case did not reach this, and this, most likely, prevented the charter of OPEC.

The fact is that it could not become a member of a full member of the USSR, because he was not listed in the founders of this organization. Secondly, there were separate provisions in the charter, which were absolutely unacceptable for a closed and ineffective communist economy. For example, members of the Organization had to provide freedom of investment in their oil industry for oil consumers, namely for the United States, Britain, France and other Western countries, as well as guarantee income and return of investors' capital. In the USSR, the concept of "private property" was quite vague, so the Soviet authorities could not provide this condition.

OPEC and modern Russia

Concerning modern Russia, Her story of relationships with OPEC began since 1998, when she became an observer. From now on, it takes part in the conferences of the organization and other events related even to countries that are not included in its composition. Russian ministers are regularly found with the main persons of the organization and colleagues. In relations with OPEC, Russia was also the initiator of some events, in particular, Energodial.

In the relations of OPEC and Russia there are difficulties. First of all, the first is afraid that Russia will increase its market share. In response, OPEC is going to reduce oil production, provided that the Russian Federation does not agree to do this. That is why it is impossible to restore world oil prices. In general, OPEC and oil of Russia is some pain in the relationship.

In general, the relations of the Russian Federation and OPEC favorable. In 2015, it was even proposed to enter into the ranks of this country, but Russia decided to remain as an observer.

Petroleum cartel at first did not have that political influence that he had now. At the same time, even the participating countries did not fully understand why they create it, and their goals were different. But now it is an important player in the black gold market, and we present some interesting facts about it.

Because OPEC was created, there were 7 transnational corporations that were fully operated by the oil market. After this cartel appeared, the situation in the root changed, and the monopoly of private companies disappeared. Now only 4 companies left, because the part was absorbed, and the part merged.
The creation of OPEC changed the balance of strength to such an extent that it is now it solves what the price of oil will be. If the price decreases, mining is immediately reduced, and the cost of black gold increases. Of course, the strength of the organization in this moment Not so big as before, but still decent.
OPEC countries control 70% of world oil. The disadvantage of this statistical is that production is not exposed to an independent audit, so the OPEC is to believe. Although it is likely that this amount of OPEC oil reserves corresponds to reality.
OPEC was able to create a powerful energy crisis, increasing the price of 450%. And the solution was thoughtful and was directed against the United States and other states supporting Israel during the war with Egypt and Syria. On the other hand, the appearance of the crisis led to the fact that many countries began to form strategic reserves of valuable fuel.

Well, finally, we will make the chief interesting fact separately. Despite the fact that OPEC has a significant impact on the cost of oil, it does not directly depend on it. Prices are set during trading on stock exchanges. Just the cartel knows the psychology of the trader well and knows how to make it make deals in the right direction.

OPEC and traders

It would seem that the association of countries producing 1.3 - 1.4 billion tons of oil is only in 1 year and providing two thirds of export deliveries to the global market, able to effectively monitor prices. However, life has shown that it is actually more and more difficult. Quite often, especially recently, the efforts of OPEC on price adjustment or do not give the desired effects or even lead to unexpected negative results.

With the introduction in the early 1980s, the financial market began to provide a much more effect on the formation of prices for "Black Gold". If in 1983, there were open positions on oil futures for 1 billion barrels of oil on the New York Commodity Exchange, then in 2011 they were opened already at 365 billion barrels. And it is many times more than the whole world oil production.

In addition to the New York Commodity Exchange, oil futures traded on other exchanges. In addition, there are other financial instruments (derivatives), which are tied to oil.

Because of this, every time OPEC takes some kind of solution to adjust world prices, in fact only outlines the estimated direction to change world prices. Players in financial markets are actively promoted and used to their benefit of fluctuations in fuel prices, thereby seriously distorting effects, for which OPEC measures have been calculated.

Conclusion

OPEC appeared in 1960, when the colonial system of the world was almost destroyed and new independent states began to appear in the international arena mainly in Africa or Asia.

At that time their minerals, oil, including, mined Western companies, so-called Seven sisters: Exxon, Royal Dutch Shell, Texaco, Chevron, Mobil, Gulf Oil and British Petroleum. OPEC destroyed the monopoly of American and British companies (as well as some other countries), freed from the colonial negle many countries that were occupied by colonial empires. 2 ratings, average: 4,50 ). Please rate, we tried very much!

What is OPEC? The name of this organization is quite often mentioned in the media. What is the purpose of its creation? What are the tasks solve? Which countries in the composition? What does the basket mean and why are quotas for OPEC countries? How does Opec affect the economy in the global aspect? Are there any problems in relations with Russia? There are many questions. Consider answers.

What does OPEC mean?
OPEC function and tasks
Principle of operation and the structure of OPEC
Opec on the world map
OPEC activities
How does OPEC affect the world market?
What is waiting for OPEC in the near future?

States engaged in the extraction and export of "black gold" in the second half of the last century, united in the international level cartel. This organization received an abbreviated name OPEC. This is an English version of the abbreviation. In the Russian free interpretation, under the reduction of OPEC, it is understood: the union of oil exporting countries. As you can see, the name is unpaid, but the idea is clear.

For what purpose is the organization of oil exporters' organization: OPEC function and tasks

Creation date - September 60th last century. The initiative proceeded from five states - five large oil exporters of that period.

What happened on the world stage in those year:

Liberation of colonies or dependent regions from the pressure of the metropolis.
The domination of the oil market belonged to Western companies proposed to lower the price of oil.
Acute lack of oil was not observed. Existing offers were clearly prevalent over demand.

That is why countries established by OPEC were important to control their resources, to exit the sphere of influence of large cartels, prevent the decline in the cost of oil on a global scale. The development of their economy has completely depended on and to this day from the volume of oil sold.

The main goals of the organization have not changed now OPEC was created to perform two functions:

Control the natural resources of national significance.
Influence the cost of oil through the control of the pricing trends in the profile sphere.

In other words, what does Ores do:

Coordinates and uniforms the oil policy of countries included in the organization.
The interests of OPEC members are protected by determining the most effective protection measures that may look like individual or collective ways.
In addition, the Organization develops the infrastructure of oil supplies, is engaged in the competent investment of profits derived from oil exports.

OPEC actively cooperates with non-member states of this structure. The purpose of communication is the implementation of proposals aimed at stabilizing the global oil market.

The leading control authority OPEC is a conference. Representatives of States Parties take part in it. Work or convening conference is held twice a year.

This format implies consideration of the following issues:

Admission to the organization of new members, that is, states.
Approval of the budget and financial report.
Personnel appointments - the candidates of the head of the Board of Governors, the Secretary General, its depots and the audit committee are approved.
Discussion of strategic and other issues.

The Board of Governors owns the right:

Do formulate topical topics for the conference.
Control the implementation of decisions made.
To lead the secretariat to the body that acts constantly.

The secretariat consists of specialized departments,aDDRESS CONSIDERED QUESTIONS:

Administrative or economic.
Legal or information.
Technical.

Their functions: Studies, drawing up an annual budget, preparation of various proposals.

The office of the Secretariat is posted in the Austrian capital.

We will remind, the proposal to create an organization belongs to the five powers: Iran, Iraq, Saudi Arabia, Kuwait and Venezuela. These states became the first Opec participants in the distant 60th year.

Already in nine years, membership in the organization has become an important step for Qatar, Libya, Indonesia, the United Arab Emirates and Algeria. In the mid-70s adopted new participants - Nigeria and Gabon, as well as Ecuador. As you can see, the geography of the continents has steadily expanded. It was during this period that the organization of the organization on the oil market increased. This became possible due to the control of the production of "black gold" by government structures belonging to States Parties to Ores.

After some time, Gabon came out of the OPEC rows, and Ecuador though left, but does not deal with activities, she simply suspended. But a new member appeared, Angola became him.

In the structure of OPEC 12 countries. Why among them there are no Russia? Causes are mainly historical. The USSR at the time of the establishment of the organization did not belong to the role of a key player in the field of mining and selling oil.

OPEC activities - what quotas need and what does the Opec basket mean

The essence of OPEC activities in regulating the oil market on the scale of the world.

The mechanism looks simple enough:

For States parties to the organization, the total limit (quotas) for the extraction of the energy carrier is established. This indicator is regularly adjusted. The reason for changes is the current cost of oil in the market.
The overall limit is distributed among the members of the organization.
Installed quotas are strictly controlled by representatives of Ores.

Quota - the size of the daily volume of oil produced . For each state, its digit is set, which changes periodically. Reducing quotas indicates price increases, which is determined by the increased deficit. Quotas remaining at the same level or enlarged, change the trend of rates in the direction of their decline.

How is the price of "black gold" for members of the OPEC? There are price guidelines. One of them has the name "Basket", that is, the cost of some oil brands mined in various participating countries of Ores are summed up, the amount to share the number of components. As a result, the average arithmetic indicator is obtained. In this case, this is the basket.

For reference. The name of the oil often reflects the country in which it is mined, and the variety of the product. It may be "light" or "heavy" type. Here is a visual example: Iran Heavy is a heavy variety of Iranian oil.

If you remember the maximum value of the basket, then it is necessary to return to the crisis 2008th year. At that time, the indicator increased to $ 140.73.

How does OPEC affect the world market? Relations Opec and Russia

Opec has the status of an intergovernmental level. Such rank allows the organization to influence the global political arena. Official communication is established with the UN. From the first years of activity, contact between the Soviets of Opec and the UN has been established. OPEC Permanent UN Conference Member on Commercial Response.

Conducting several annual meetings with the presence of ministers of OPEC participating States also contribute to the development of joint strategic plans for further work on the wide market.

Russia is on a par with members of OPEC in a number of leading suppliers of "black gold".

In the past between them there were periods of serious confrontation. So, at the beginning of the current century, OPEC addressed Moscow the requirement to reduce the sale of oil. Although the available statistical data has not recorded a decline in volumes exported from Russia. On the contrary, they only increased.

From the mid-2000s, when the rapid increase in the cost of oil occurred, an end to the confrontation between the Russian Federation and OPEC came. Now the relationship is solely constructive, which is expressed in consulting on "oil" issues at the highest level. The coincidence of strategic interests in the circle of oil sellers looks quite logical.

What is waiting for OPEC in the near future: problems and prospects Opec

Countries entering the organization inherent in the polarity of interest.

Just two examples:

The states located on the Arabian Peninsula have a small population, but have a large oil reserve. They are sent major foreign investments on the development of deposits.
In Venezuela, a different situation is a numerous population. There is a realization of expensive programs for development, there are huge debts. Therefore, the state is forced to sell oil in large quantities.

In addition to the above, OPEC should be considered a number of other problems:

OPEC quota agreements are often violated. There is no adjustable control mechanism.
The implementation of large-scale oil production by states that are not participants in Opec (Russia, USA, China, Canada, and so on), reduced the influence of united exporters to the World Market.
The oil production is complicated by political instability. It is enough to recall Iraq and Libya, the instability of the political system of Nigeria, the restless atmosphere of Venezuela and sanctions against Iran.

In addition, there is some uncertainty in the future.

Much depends on the further development of the energy:

The introduction of alternative energy sources will reduce the effect of OPEC on the global economy.
From the official sources, the forecasts predicting the championship of "black gold" are sounded as the main resource for energy. In this situation, successful activities are guaranteed - the depletion of oil fields is expected only in 35 years.

The nebula prospects is complicated by the current geopolitical situation in the world. The creation of OPEC was held under the conditions of relative equilibrium of forces - there were two opposing parties: the social value and capitalist powers. The current monopolarity is very strengthened by instability. The United States increasingly takes on the functions of the "world police officer" against states in anything "guilty", the actions of Islamic fundamentalists are generally difficult to calculate. Similar factors only weaken OPEC. In addition, the oil market is the most unpredictable.

Some specialists are confident that OPEC will not be able to be a dictator of conditions, will have to take into account the political priorities of the buying countries. Other versions are also enough. Time will show who is right. The oil market is the most unpredictable.

Definition and prehistory: The organization of oil exporters (OPEC) is an interstate organization currently consisting of fourteen oil exporters that cooperate to coordinate their petroleum policies. The organization was formed in response to the activities and practice of seven large international oil companies, known as "seven sisters" (among them British Petroleum, Exxon, Mobil, Roya, Dutch Shell, Gulf Oil, Texaco and Chevron). Corporate's activities often have fallen into the growth and development of oil-producing countries whose natural resources they used.

The first step to the creation of OPEC can be attributed by 1949, when Venezuela turned to four other developing oil producers - Iran, Iraq, Kuwait and Saudi Arabia, with a proposal of regular and closer cooperation on energy issues. But the main stimulus for the birth of OPEC was the event that occurred ten years later. After "seven sisters" decided to reduce the price of oil, pre-consistent with the heads of state. In response, several oil-producing countries have decided to hold a meeting in Cairo, Egypt, in 1959. Iran and Venezuela were invited as observers. The meeting adopted a resolution in which corporations had to consult in advance with the governments of oil-producing countries before changing the prices of oil. However, the "seven sisters" ignored the resolution, and in August 1960 again reduced oil prices.

The birth of OPEC

In response to this, five of the largest oil-producing countries held another conference on September 10-14, 1960. This time the meeting was chosen by Baghdad, the capital of Iraq. The conference was attended by: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela (OPEC member states). It was then that OPEC was born.

Each country sent delegates: Fuad Rukhani from Iran, Dr. Talaat Al-Shaibani from Iraq, Ahmed Said Owar from Kuwait, Abdulla Al-Tarika from Saudi Arabia and Dr Huang Pablo Perez Alfonso from Venezuela. In Baghdad, delegates discussed the role of "seven sisters" and the conjuncture of the hydrocarbon market. Oil-producing acute needed to create an organization to protect their most important natural resources. Thus, OPEC was created as a permanent intergovernmental organization with the first headquarters in Geneva, Switzerland. In April 1965, OPEC decided to translate the administration to Vienna, the capital of Austria. The agreement with the host party was signed, and OPEC transferred an office in Vienna on September 1, 1965. After the creation of the OPEC of the Government of the OPEC member countries to take their natural resources under strict control. And in the following years, OPEC began to play a more important role in the global commodity market.

Oil reserves and mining

The scale of the influence of individual members of the OPEC on the organization and the oil market as a whole usually depends on the levels of stocks and mining. Saudi Arabia, which controls about 17.8% of world proven reserves and 22% of proven OPEC reserves. Therefore, Saudi Arabia plays a leading role in the organization. At the end of 2016, the volume of world proven oil reserves amounted to 1.492 billion barrels. Oil, the OPEC accounts for 1.217 billion Barr. or 81.5%.

World proved oil reserves, billion Barr.

Source: OPEC

Other key members are Iran, Iraq, Kuwait and the United Arab Emirates whose total reserves are significantly higher than that of Saudi Arabia. Kuwait, with a small population, demonstrated the readiness to reduce production in relation to the size of its reserves, while Iran and Iraq, which have a growing population, are usually produced at a higher level compared to reserves. Revolutions and war violated the ability of some members of OPEC to consistently maintain a high level of production. OPEC countries account for about 33% of the global oil production.

Large oil-producing countries that are not included in OPEC

USA. The United States is the leading oil-producing country in the world with an average of 12.3 million Barr. Oil per day, which is 13.4% of world production according to British Petroleum. The United States is a clean exporter, that is, exports exceeds oil imports from the beginning of 2011.

Russia It remains one of the largest oil producers in the world, on average in 2016 it is 11.2 million Barr. per day or 11.6% of the total world production. Major oil production regions in Russia - Western Siberia, Ural, Krasnoyarsk, Sakhalin, Komi Republic, Arkhangelsk, Irkutsk and Yakutia. Most is mined at Priobsky and Samotlorsk deposits in Western Siberia. The oil industry in Russia was privatized after the collapse of the Soviet Union, but in a few years the company returned under public control. The largest oil mining companies in Russia are Rosneft, which in 2013 acquired TNK-BP, LUKOIL, Surgutneftegaz, Gazpromneft and Tatneft.

China. In 2016, China made an average of 4 million barrels. Oil, which amounted to 4.3% of world production. China is an oil importer, since in 2016 the country consumed an average of 12.38 million barrels. per day. According to the latest EIA (Energy Information Administration), about 80% of the Chinese production capacity falls on land, the remaining 20% \u200b\u200bare small offshore reserves. The northeast and northern central regions of the country are responsible for most internal production. Regions, such as Datsin, are operated since the 1960s. Production of mature deposits has reached its peak, and companies are investing in technology to increase power.

Canada It occupies the sixth place among the leading global oil producers with an average production level of 4.46 million Barr. per day in 2016, which is 4.8% of world production. Currently, the main sources of oil production in Canada are the Bituminous Sands of Alberta, the West Canadian sedimentary pool and the Atlantic pool. The oil sector in Canada is privatized by many foreign and domestic companies.

Current members of OPEC

Algeria - since 1969

Angola - 2007-present

Ecuador - 1973-1992, 2007 - Present

Gabon - 1975-1995; 2016 - Present

Iran - from 1960 to the present

Iraq - from 1960 to the present

Kuwait - from 1960 to the present

Libya - 1962-present

Nigeria - from 1971 to the present

Qatar - 1961-present

Saudi Arabia - from 1960 to the present