OPEC and the Global Market Student Name Course Name Tutor Name Date Abstract The paper talks of petroleum exporting countries organization known as OPEC. The organization was formed in the early 1960s in Baghdad in the conference held there by the founding member countries which include Iraq Saudi Arabia Kuwait Iran and Venezuela. Organization has faced several dynamics where some have made it strong while a number of them have declined its good performance. (Colgan 2014 142). The country that is dominant in the paper is Libya for it is open since it carries the weight of the many recorded dynamics since its well known for its higher potential in producing they highest percentage of the petroleum supplied to the consuming nations. Introduction The organization of petroleum exporting countries is an international business organization that comprises all the petroleum supplying countries in the world. The organization was formed in the organization worked hard to deliver. Therefore for a great change and smooth run on the global market the OPEC has to take measures in each of its member countries in order restore the drives that will enable it to hit the objective in coordinating all the global oil activities in the global market References Colgan J. D. (2014). The emperor has no clothes: The limits of OPEC in the global oil market. (International Organization 68 3. Huppmann D. & Jahrestagung des Vereins für Socialpolitik: Wettbewerbspolitik und Regulierung in einer globalen Wirtschaftsordnung. (2013). Endogenous shifts in OPEC market power: A Stackelberg oligopoly with fringe ; conference paper. Kiel und Hamburg: ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften Leibniz-Informationszentrum Wirtschaft. Katusa M. (2015). The colder war: How the global energy trade slipped from America's grasp. Yetiv S. A. (2015). Myths of the oil boom: American national security in a global energy market. Oxford [u.a.: Oxford Univ. Press. [...]
In the International Economics textbook, Carbaugh (2017, Chapter 7) provided a historical account of OPEC and its power in controlling the global petroleum supply. In a critical essay, investigate the dynamics OPEC has faced in the global market in the last ten years. You may select a member country and analyze the effects from the perspective of that jurisdiction. Support your findings with additional academic references.