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There are many economic issues that are determined in the rise and fall of the American stock market; one of those issues is the price of oil. On many levels, the price of oil is dictated by groups of governments that have a stake in the success of the Organization for Petroleum Exporting Countries (OPEC). American consumers deserve to know how OPEC and its member countries influence the price of oil around the world.
OPEC controls the price of oil around the world, and a majority of the world’s oil reserves, producing 29.9% of America’s imported oil ("How dependent", 2008). The Organization for Petroleum Exporting Countries, referred to as OPEC, was created in Baghdad, Iraq, in September of 1960...
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Common topics in this essay:
- Cuban Embargo
- Crude Oil and Prices: OPEC needs to be shut down!
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