Title: OPEC and its proposition in the south
|Date:||April 6, 2015|
|Length:||8 / 2354|
|No of views:||0|
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These five countries- Saudi Arabia, Iran, Iraq, Kuwait, and Venezuela- were responsible for nearly 80% of all world oil exports at the time. From this point forward, OPEC would become the primary policy-making body for the price regulation of petroleum exports. Fuad Rouhani, the first Secretary-General of OPEC, established that the objectives of this organizations were:
1) Endeavoring by all possible means to restore the price of crude oil to the level existing before the reductions...
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OPEC would consist of a Board of Governors, with one representative from each of the member countries. Also, the Board of Governors would elect the Chairman and the Secretary-General. The organization is permanently seated in Vienna, where the Secretary-General is entrusted with numerous responsibilities in conjunction with his five departments: Technical, Administration, Legal, Economics, and Information...
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