Saturday, 24 May 2014
Organization of Petroleum Exporting Countries (OPEC)
After several years of slow economic growth, world demand for
petroleum began to rise rapidly in the 1990s. Much of the increase
in demand was met by additional supplies from sources outside the
Organization of Petroleum Exporting Countries (OPEC). OPEC, during
this time, was unable to restrain output among members in its
effort to lift oil prices. What best describes these events?
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