SIA COLLEGE OF HIGHER EDUCATION

SUBJECT: IB
TOPIC: ORGANIZATION OF OIL AND
PETROLEUM EXPORTING COUNTRIES
PRESENTED BY: Amit Parmar( BF/14036)
&
Mehul jadhav ( BF/14017)

ORGANIZATION OF OIL AND PETROLEUM

EXPORTING COUNTRIES

WHAT IS OPEC ?
It is an organization of oil-producing countries
founded in 1960.
OPEC controls the price of petroleum all over the
world.
Ensures stability of oil markets to secure,
economic and regular
supply of petroleum.
Ensures steady income to the producers and a fair
return on capital.
FOUNDER MEMBERS OF
OPEC
Iran
Iraq
Kuwait
Saudi Arabia
Venezuela
Later on the founding members of OPEC were
joined by nine other members countries.

CRUDE OIL BENCHMARK

A crude oil benchmark is a standardise petroleum
product that serves as a convenient reference price
for buyers and sellers of crude oil.
Benchmark is used because oil prices differ based
on variety, grade, delivery date and location.
The OPEC Reference basket of crudes has been an
important benchmark of oil prices since 2000.
It is calculated as a weighted average of prices for
petroleum blends from member countries.
OBJECTIVES OF OPEC
Co-ordinate and unification polices of member
states on oil.
Determine the most effective means of individual
and collective protection of interest of parties.
Providing sustainable income to oil producing
countries.
Effective supply to consumers countries.
Equitable distribution of income from investment in
the oil industry.
Environmental protection.

THANK YOU