Financial encyclopedia

Recently, the oil price fluctuates greatly, creating many opportunities to make wealth. In order to prepare the daily operation of crude oil, you must know OPEC, which is the organization of petroleum exporting countries.

Price has an important influence. What is the same point that affects oil price? The Organization of Petroleum Exporting Countries (OPEC) is an intergovernmental international organization composed of 13 countries, which was established on September 14th, 1960.

Founded in Baghdad by five founding countries. Today, it is headquartered in Vienna, Austria, and currently has 13 member countries. As of 2019, OPEC's oil production accounted for the global output.

38%, 71.8% of the world's proven oil reserves, can have a significant impact on the global crude oil price previously dominated by the "Seven Sisters" multinational oil companies.

OPEC's mission is to "coordinate and unify the oil policies and prices of member countries, ensure the stability of the oil market, and ensure effective, economical and stable oil for oil consuming countries."

Supply, to provide oil-producing countries with moderate respect and stable income, and to provide investors in the oil industry with fair returns ". Since the Russian war, the oil price volatility has expanded, and more investment banks have said

The volatility of oil price of nearly ten dollars has become the new normal, and the speculative space has greatly increased. Recently, the volatility is very large, because Russia was sanctioned by Europe and America, and the price of natural gas soared, driving up the oil price.

But on the other hand, I'm afraid that after the United States enters the winter, Europe's sanctions against Russia's crude oil exports will cause the oil price to soar, and the upper limit of the oil price guidance price will be set to try to resolve the energy crisis.

Make the oil price extremely sensitive.