Question

Mention OPEC missions and how does it help other countries?

Answer 1

OPEC’S Mission:

1. To coordinate oil policies in its member countries.
2. Help stabilize oil markets.
3. To secure fair and stable income to petroleum producers.
4. An efficient, economic, and regular supply of oil to consuming nations.
5. A fair return on capital to those investing in the petroleum industry.

How does OPEC help other countries?

1. The OPEC, fund for International Development (OPID) is an institution that helps finance projects with low-interest loans.
2. It also provides grants to social and humanitarian projects.
3. OPEC has an information center with over 20,000 volumes including books reports, maps, and conferences, proceedings related to petroleum energy and the oil markets.
4. The information center is open to the public and is often used by researchers and students.