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http://www.opec.org/....FAQ
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| No, OPEC does not control the oil market. OPEC Member Countries produce about 41% of the world's crude oil and 15 per cent of its natural gas. | |
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| However, OPEC's oil exports represent about 55% of the oil traded internationally. Therefore, OPEC can have a strong influence on the oil market, especially if it decides to reduce or increase. | |
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| OPEC seeks stability in the oil market and endeavours to deliver steady supplies of oil to consumers at fair and reasonable prices.....Hey come back here! | |
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