Open AccessOPEC’s Benefit for the Member Countries
Author(s) -
Jamola Khusanjanova
Publication year - 2011
Publication title -
research in world economy
Language(s) - English
Resource type - Journals
eISSN - 1923-399X
pISSN - 1923-3981
DOI - 10.5430/rwe.v2n1p14
Subject(s) - member states , revenue , petroleum , international trade , business , work (physics) , oil price , economics , international economics , economy , european union , finance , mechanical engineering , paleontology , monetary economics , engineering , biology
The Organisation of Petroleum Exporting Countries (OPEC) is a permanent inter - governmental organisation composed of member states whose economies mostly rely on revenues from oil export. The OPEC’s twelve members work together to coordinate the overall oil price in the world market. So far, there have been numerous studies on OPEC’s influence on the world petroleum market. Current study, manly looks at the role of OPEC in development of the member countries. Investigates what kind of benefits does the member countries get from being member of the Organisation of Petroleum Exporting Countries and its influence on the economic development of the member countries.