Oil exporting countries include: Countries included in the trusteeship. Common difficulties in the formation of all trusteeship states

Definition and background: The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization currently made up of fourteen oil exporting countries that cooperate to coordinate their oil policies. The organization was formed in response to the activities and practices of seven major international oil companies known as the “Seven Sisters” (among them British Petroleum, Exxon, Mobil, Roya, Dutch Shell, Gulf Oil, Texaco and Chevron). Corporate activities have often had a detrimental effect on the growth and development of oil-producing countries whose Natural resources they used.

The first step towards the creation of OPEC can be traced back to 1949, when Venezuela turned to four other developing countries-oil producers - Iran, Iraq, Kuwait and Saudi Arabia, with a proposal for regular and closer cooperation on energy issues. But the main stimulus for the birth of OPEC was an event that occurred ten years later. After the “seven sisters” decided to reduce the price of oil without first coordinating this action with the heads of state. In response, several oil-producing countries decided to hold a meeting in Cairo, Egypt, in 1959. Iran and Venezuela were invited as observers. The meeting adopted a resolution requiring corporations to consult in advance with the governments of oil-producing countries before changing oil prices. However, the “seven sisters” ignored the resolution, and in August 1960 they again reduced oil prices.

The Birth of OPEC

In response, five of the largest oil-producing countries held another conference on September 10–14, 1960. This time, Baghdad, the capital of Iraq, was chosen as the meeting place. The conference was attended by: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela (founding members of OPEC). This is when OPEC was born.

Each country sent delegates: Fouad Rouhani from Iran, Dr. Talaat al-Shaibani from Iraq, Ahmed Sayed Omar from Kuwait, Abdullah al-Tariqi from Saudi Arabia and Dr. Huang Pablo Perez Alfonso from Venezuela. In Baghdad, delegates discussed the role of the “seven sisters” and the hydrocarbon market situation. Oil producers desperately needed to create an organization to protect their critical natural resources. Thus, OPEC was created as a permanent intergovernmental organization with its first headquarters in Geneva, Switzerland. In April 1965, OPEC decided to move its administration to Vienna, the capital of Austria. The host agreement was signed and OPEC moved its office to Vienna on September 1, 1965. After the creation of OPEC, governments of OPEC member countries took strict control of their natural resources. And in subsequent years, OPEC began to play more important role on the global commodity market.

Oil reserves and production levels

The extent of influence of individual OPEC members on the organization and on the oil market as a whole usually depends on the levels of reserves and production. Saudi Arabia, which controls about 17.8% of the world's proven reserves and 22% of OPEC's proven reserves. Therefore, Saudi Arabia plays a leading role in the organization. At the end of 2016, the volume of world proven oil reserves amounted to 1.492 billion barrels. oil, OPEC accounts for 1.217 billion barrels. or 81.5%.

WORLD'S PROVEN OIL RESERVES, BILLION. BARR.

Source: OPEC

Other key members are Iran, Iraq, Kuwait and the United United Arab Emirates, whose total reserves are significantly higher than those of Saudi Arabia. Kuwait, with a small population, has shown a willingness to reduce production relative to the size of its reserves, while Iran and Iraq, with growing populations, tend to produce at higher levels relative to reserves. Revolutions and wars have disrupted the ability of some OPEC members to maintain stable high level production. OPEC countries account for about 33% of world oil production.

Major oil-producing countries that are not members of OPEC

USA. The United States is the leading oil-producing country in the world with production averaging 12.3 million barrels. oil per day, which is 13.4% of global production according to British Petroleum. The United States has been a net exporter, meaning exports have exceeded oil imports since early 2011.

Russia remains one of largest producers oil in the world, on average in 2016 it is 11.2 million barrels. per day or 11.6% of total world production. The main regions of oil production in Russia are Western Siberia, the Urals, Krasnoyarsk, Sakhalin, the Komi Republic, Arkhangelsk, Irkutsk and Yakutia. Most of it is produced at the Priobskoye and Samotlorskoye fields in Western Siberia. The oil industry in Russia was privatized after the collapse of the Soviet Union, but within a few years the companies returned to state control. Largest companies, engaged in oil production in Russia, are Rosneft, which in 2013 acquired TNK-BP, Lukoil, Surgutneftegaz, Gazpromneft and Tatneft.

China. In 2016, China produced an average of 4 million barrels. oil, which amounted to 4.3% of world production. China is an oil importer, as the country consumed an average of 12.38 million barrels in 2016. per day. According to the latest EIA (Energy Information Administration) data, about 80% of China's production capacity is onshore, with the remaining 20% ​​being small offshore reserves. Northeast and northern central areas countries are responsible for the majority of domestic production. Regions such as Daqing have been exploited since the 1960s. Production from brownfields has peaked and companies are investing in technology to increase capacity.

Canada ranks sixth among the world's leading oil producers with an average production level of 4.46 million barrels. per day in 2016, representing 4.8% of global production. Currently, the main sources of oil production in Canada are the Alberta tar sands, the Western Canada Sedimentary Basin and the Atlantic Basin. The oil sector in Canada is privatized by many foreign and domestic companies.

Current OPEC members

Algeria - since 1969

Angola – 2007-present

Ecuador – 1973-1992, 2007 – present

Gabon - 1975-1995; 2016–present

Iran - from 1960 to the present

Iraq - 1960 to present

Kuwait – 1960 to present

Libya – 1962-present

Nigeria - 1971 to present

Qatar – 1961-present

Saudi Arabia - 1960 to present

United Arab Emirates - 1967 to present

Venezuela – 1960 to present

Former members:

Indonesia – 1962-2009, 2016

Today there are more than four thousand international intergovernmental organizations operating in the world. Their role in the global economy is difficult to overestimate. One of these largest organizations, the name of which is on everyone’s lips today, is the Organization of the Petroleum Exporting Countries; abbreviated as OPEC.

The organization, also called a cartel, was created by oil-producing countries in order to stabilize oil prices. Its history dates back to September 10-14, 1960, from the Baghdad Conference, when OPEC was created with the aim of coordinating the oil policies of the member states and, most importantly, especially ensuring the stability of world oil prices.

History of OPEC

At first, the countries forming OPEC were given the task of increasing concession payments, but OPEC’s activities went far beyond the scope of this task and had an impact big influence to the struggle of developing countries against the neocolonial system of exploitation of their resources.

At that time, world oil production was practically controlled by the seven largest transnational companies, the so-called “Seven Sisters”. Completely dominating the market, the cartel did not intend to take into account the opinion of oil-producing countries, and in August 1960 it reduced purchase prices for oil from the Near and Middle East to the limit, which for the countries of this region meant multimillion-dollar losses for as soon as possible. And as a result, five developing oil-producing countries - Iraq, Iran, Kuwait, Saudi Arabia and Venezuela - took initiatives into their own hands. More precisely, the initiator of the birth of the organization was Venezuela, the most developed of the oil-producing countries, which for a long time was subject to exploitation by oil monopolies. Understanding of the need to coordinate efforts against oil monopolies was also brewing in the Middle East. This is evidenced by several facts, including the Iraqi-Saudi Agreement of 1953 on the harmonization of Oil Policy and the meeting of the League of Arab Countries in 1959, dedicated to oil problems, which was attended by representatives of Iran and Venezuela.

Subsequently, the number of countries included in OPEC increased. These were joined by Qatar (1961), Indonesia (1962), Libya (1962), United Arab Emirates (1967), Algeria (1969), Nigeria (1971), Ecuador (1973) and Gabon (1975). However, over time, the composition of OPEC has changed several times. In the 1990s, Gabon left the organization and Ecuador suspended its membership. In 2007, Angola joined the cartel, Ecuador returned again, and in January 2009 Indonesia suspended its membership as it became an oil importing country. In 2008, Russia announced its readiness to become a permanent observer in the Organization.

Today, any other country that exports crude oil on a significant scale and has similar interests in this area can also become a full member of the organization, provided that its candidacy is approved by a majority vote (3/4), including the votes of all founding members .

In November 1962, the Organization of Petroleum Exporting Countries was registered with the UN Secretariat as a full-fledged intergovernmental organization. And just five years after its founding, it has already established official relations with the UN Economic and Social Council, became a participant in the UN Conference on Trade and Development.

Thus, today the OPEC countries are a united 12 oil-producing states (Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Libya, the United Arab Emirates, Algeria, Nigeria, Ecuador and Angola). The headquarters was initially located in Geneva (Switzerland), then on September 1, 1965 it moved to Vienna (Austria).

The economic success of OPEC member states had enormous ideological significance. It seemed that the developing countries of the “poor South” had achieved a turning point in the struggle with the developed countries of the “rich North”. Feeling like a representative of the “third world”, in 1976 the cartel organized the Foundation international development OPEC is a financial institution that provides support to developing countries that are not members of the Organization of Petroleum Exporting Countries.

The success of this combination of enterprises encouraged other Third World countries exporting raw materials to try to coordinate their efforts to raise incomes in a similar way. However, these attempts turned out to be of little result, since the demand for other raw materials was not as high as for “ black gold».

Although the second half of the 1970s became the peak of OPEC's economic prosperity, this success was not very sustainable. Almost a decade later, world oil prices fell by almost half, thereby sharply reducing the income of the cartel countries from petrodollars.

Objectives and structure of OPEC

The proven oil reserves of the countries joining OPEC currently amount to 1,199.71 billion barrels. OPEC countries control about 2/3 of the world's oil reserves, which amounts to 77% of all proven world reserves of “black gold”. They account for the production of about 29 million barrels of oil, or about 44% of world production or half of world oil exports. Estimated Secretary General organizations, this figure will increase to 50% by 2020.

Despite the fact that OPEC produces only 44% of world oil production, it has a huge influence on the oil market.

Speaking about the serious figures of the cartel, one cannot fail to mention its goals. One of the main ones is ensuring price stability on world oil markets. Another important task of the organization is to coordinate and unify the oil policies of member states, as well as to determine the most effective individual and collective means of protecting their interests. The goals of the cartel include protecting environment in the interests of present and future generations.

In short, the union of oil-producing countries defends their economic interests with a united front. In fact, it was OPEC that launched interstate regulation of the oil market.

The structure of the cartel consists of a Conference, committees, a board of governors, a secretariat, a general secretary and economic commission OPEC.

The highest body of the organization is the Conference of Oil Ministers of OPEC countries, which convenes at least twice a year, usually at its headquarters in Vienna. It determines the key directions of the cartel's policy, ways and means of their practical implementation and makes decisions on reports and recommendations, including on the budget. The conference also forms the Board of Governors (one representative per country, usually the ministers of oil, mining or energy), and it also appoints the secretary general of the organization, who is the highest official and authorized representative of the organization. Since 2007, he has been Abdallah Salem al-Badri.

Characteristics of the economies of OPEC countries

Most countries of the Organization of Petroleum Exporting Countries are deeply dependent on the income of their oil industry.

Saudi Arabia has the largest oil reserves in the world - 25% of the world's oil reserves - and as a result, its economy is based on oil exports. Oil exports bring 90% of the state's export revenues, 75% of budget revenues and 45% of GDP to the state treasury.

50% of Kuwait’s GDP is provided by the extraction of “black gold”; its share in the country’s exports is 90%. The subsoil of Iraq is rich in the largest reserves of this raw material. Iraqi state-owned companies North Oil Company and South Oil Company have a monopoly on the development of local oil fields. Iran occupies an honorable place in the list of the most oil-producing countries. It has oil reserves estimated at 18 billion tons and occupies 5.5% of the global petroleum products trading market. The economy of this country is also connected with the oil industry.

Another OPEC country is Algeria, whose economy is based on oil and gas. They provide 30% of GDP, 60% of state budget revenues and 95% of export earnings. Algeria ranks 15th in the world in oil reserves and 11th in its exports.

Angola's economy is also based on oil production and exports - 85% of GDP. It is thanks to “black gold” that the country’s economy is the fastest growing among sub-Saharan African countries.

The Bolivarian Republic of Venezuela also replenishes its budget through oil production, which provides 80% of export revenues, more than 50% of the republican budget revenue and about 30% of GDP. A significant portion of the oil produced in Venezuela is exported to the United States.

Thus, as already mentioned, all twelve OPEC member countries are deeply dependent on the income of their oil industry. Probably the only cartel member country that benefits from more than just the oil industry is Indonesia, whose state budget is replenished through tourism, the sale of gas and other raw materials. For others, the level of dependence on oil exports ranges from a low of 48% in the case of the United Arab Emirates to a high of 97% in Nigeria.

Problems of development of OPEC member countries

It would seem that the union of the largest oil exporters, which controls 2/3 of the world's reserves of "black gold", should develop in geometric progression. However, not all so simple. Offhand, we can name about four reasons hindering the development of the cartel. One of these reasons is that the Organization unites countries whose interests are often opposing. Interesting fact: OPEC countries fought with each other. In 1990, Iraq invaded Kuwait and sparked the Gulf War. After Iraq's defeat, international trade sanctions were applied to it, which sharply limited the country's ability to export oil, which led to even greater volatility in the prices of the "black gold" exported from the cartel. The same reason can be attributed to the fact that, for example, Saudi Arabia and other countries of the Arabian Peninsula are among the sparsely populated countries, but they have the largest oil reserves, large investments from abroad and maintain very close relations with Western countries. oil companies. And other countries of the Organization, such as Nigeria, have high populations and extreme poverty, and have to undertake expensive economic development programs, and therefore have huge external debt. These countries are forced to extract and sell as much as possible more oil, especially after crude oil prices declined. Moreover, as a result political events in the 1980s, Iraq and Iran increased oil production to maximum level to pay military expenses.

Today, the unstable political situation in at least 7 of the 12 cartel member countries is a serious problem for OPEC. Civil War in Libya significantly disrupted the smooth flow of work at the country's oil and gas fields. Events Arab Spring affected normal work in many countries in the Middle East region. According to the UN, April 2013 broke records for the number of people killed and wounded in Iraq over the past 5 years. After the death of Hugo Chavez, the situation in Venezuela cannot be called stable and calm.

The main one on the list of problems can be called compensation for the technological backwardness of OPEC members from the leading countries of the world. No matter how strange it may sound, by the time the cartel was formed, its members had not yet gotten rid of the remnants of the feudal system. It was possible to get rid of this only through accelerated industrialization and urbanization, and accordingly, the introduction of new technologies into production and people’s lives did not pass without a trace. Here we can immediately point out another, third, problem – lack of qualifications among national personnel. All this is interconnected - countries that were lagging behind in development could not boast of highly qualified specialists, workers in the states were unprepared for modern technologies and equipment. Since local personnel could not maintain the equipment that was installed at oil producing and processing enterprises, management urgently had to attract foreign specialists to work, which, in turn, created a number of new difficulties.

And the fourth obstacle, it would seem, does not deserve special attention. However, this banal reason significantly slowed down the movement. “Where should I put the money?” was the question faced by the OPEC countries when a flow of petrodollars poured into the countries. The leaders of the countries were unable to wisely manage the collapsed wealth, so they started various meaningless projects, for example, “construction projects of the century”, which cannot be called a reasonable investment of capital. It took some time for the euphoria to subside as oil prices began to fall and revenue flowing into government coffers declined. We had to spend money more wisely and wisely.

As a result of the influence of these factors, OPEC lost its role as the main regulator of world oil prices and became only one (albeit very influential) of the participants in exchange trading on the world oil market.

OPEC development prospects

The prospects for the development of the Organization today remain uncertain. Experts and analysts on this issue are divided into two camps. Some believe that the cartel managed to overcome the crisis of the second half of the 1980s and early 1990s. Of course, we are not talking about returning to the previous economic power, as in the 70s, but in general the picture is quite favorable, there are the necessary opportunities for development.

The latter will be inclined to believe that the cartel countries are unlikely to be able to comply with established oil production quotas and a clear unified policy for a long time.

Among the countries of the Organization, even the richest in oil, there is not a single one that has managed to become sufficiently developed and modern. Three Arab countries- Saudi Arabia, the UAE and Kuwait can be called rich, but cannot be called developed. As an indicator of their relative underdevelopment and backwardness, one can cite the fact that all countries still maintain monarchical regimes of the feudal type. Standards of living in Libya, Venezuela and Iran are roughly similar to Russian level. All this can be called a natural result of unreasonableness: abundant oil reserves provoke a struggle, not for the development of production, but for political control over the exploitation of natural resources. But on the other hand, we can name countries where resources are exploited quite efficiently. Examples include Kuwait and the United Arab Emirates, where current revenues from raw materials are not only squandered, but also put aside in a special reserve fund for future expenses, and are also spent on boosting other sectors of the economy (for example, the tourism business).

Several factors of uncertainty in the prospects of the Organization of Petroleum Exporting Countries, such as, for example, the uncertainty of the path of development of global energy, can significantly weaken the cartel, so no one dares to draw clear conclusions.

Oil reserves in countries of the world (in billion barrels, as of 2012)

OPEC translated from English is the organization of oil exporting countries. The purpose of creating OPEC was and is to control oil production quotas and prices.

OPEC was created in September 1960 in Baghdad. The list of members changes periodically during the existence of the organization and as of 2018 (July) it includes 14 countries.

The initiators of the creation were 5 countries: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. These countries were later joined by Qatar (1961), Indonesia (1962), Libya (1962), United Arab Emirates (1967), Algeria (1969), Nigeria (1971), Ecuador (1973), Gabon (1975) year), Angola (2007) and Equatorial Guinea (2017).

As of today (February 2018), OPEC includes 14 countries:

1. Algeria
2. Angola
3. Venezuela
4. Gabon
5. Kuwait
6. Qatar
7. Libya
8. United Arab Emirates
9. Nigeria
10. Saudi Arabia
11. Equatorial Guinea
12. Ecuador

Russia is not a member of OPEC.

Countries included in the organization control 40% of all oil production on earth, that’s 2/3. The leader in oil production in the world is Russia, but it is not part of OPEC and cannot control the price of oil. Russia is an energy-dependent country. The level of economic development and well-being of Russians depends on its sale. Therefore, in order not to depend on oil prices on the world market, Russia should develop other sectors of the economy.

So, several times a year the ministers of OPEC countries gather for meetings. They assess the state of the world oil market and predict the price. Depending on this, decisions are made to reduce or increase oil production.

More articles on the topic:

The main words of 2017: Hype, Zashkvar and Eshkere!

OPEC - what is it? Decoding, definition, translation

OPEC is an international cartel of countries that produce and export oil., created with the goal of coordinating the volume of its production and thus influencing its price. The abbreviation OPEC is a Russian transcription English abbreviation OPEC, which is deciphered as follows: Organization of Petroleum Exporting Countries, which translated into Russian means “organization of oil exporting countries.”

Organization of Petroleum Exporting Countries

OPEC includes 12 countries that are lucky with oil reserves. Here list of OPEC member countries: UAE, Iran, Iraq, Kuwait, Saudi Arabia, Angola, Qatar, Libya, Algeria, Nigeria, Ecuador and Venezuela. Russia is not a member of OPEC for historical reasons: the organization was founded in 1960, when the USSR was not yet a key player in the oil market. Today Russia has a difficult relationship with OPEC, although our country is an “observer” in this organization.

correct/add

Did you find out where the word came from? OPEC in simple words, its translation and meaning.
Please share the link “What is OPEC?” with friends:

© 2018 Site of new and well-forgotten words What-is-this.ru
Add a word | Help the project

Foreign economic activity of Russia

2.

Organization of the Petroleum Exporting Countries (OPEC)

Analysis and statistics of exports and imports from Russia, the CIS and countries of the world

In trade with the CIS countries over the past 2 years, exports decreased by 7.6% and amounted to $23,250.0 million. Imports decreased by only 1.1% and amounted to $12,974.9 million. The decline in trade with the CIS countries, according to the World Bank...

Foreign trade in the BRICS countries

2.1 Commodity structure of exports of the BRICS countries at the present stage

The world is undergoing rapid transformations that are rapidly changing the global economic landscape. From the time of the Industrial Revolution until the beginning of this century, including the first few years...

State regulation of foreign trade activities in Russia

3. Features of export regulation using the example of developed countries

State regulation of export activities is designed to optimize the parameters of the country’s participation in the system world economic relations…

State regulation of economic and social processes in developed countries

Main directions of state regulation of the economy of developed countries

The ideas of a mixed economy, which appeared at the turn of the last two centuries and then became widespread, reflected real changes in socio-economic life, which especially intensified in the post-war period...

International economic and trade organizations

2.6 Organization of Petroleum Exporting Countries (OPEC)

OPEC was created at the Baghdad Conference in 1960.

Its charter, approved in Caracas in 1961, was completely revised in 1965, and was later amended several times...

Place of leading international financial organizations in the system of assistance to developing countries

2.3 Main areas of OECD activity in supporting peripheral countries

The goal of the OECD is to promote the socio-economic development of member countries, develop the most effective economic policies...

Scientific and technological potential of East Asian countries

3.1 Main directions of economic development of East Asian countries

East Asia is the most economically dynamic region in the world. From the 1960s to the present day. Moreover, today, based on economic prospects, both immediate and more distant, and emerging business opportunities, then this...

Organization of Petroleum Exporting Countries

2. Common development problems of all OPEC countries

Since most, if not all, of the OPEC member countries are developing countries with similar state structure, with a similar culture, ideology, politics, then naturally...

Main directions and forms of international trade

3 The main directions of trade development of developing countries, their struggle to change the situation in world trade

Developing countries have significantly improved their position in world trade. Since the mid-1980s, their share of world exports has grown continuously, rising from about a quarter to about a third...

Assessment of Bulgaria in terms of investment attractiveness

Chapter 2. Place in the system of international division of labor. Main export and import items. Main trading partners

The total number of economically active persons in 2010 in Bulgaria was 3.465 million or 46.2% of the population aged 15 years or more. The economic activity rate in cities is 52.8%, and in villages - 38.6%. Economic activity of men (53.7%) is 10.1 points higher...

Developing countries in world trade

2.1. Analysis of export performance of developing countries

The industrialization of developing countries, regardless of its general orientation and real direction, was accompanied by the intensification of world economic and cultural ties determined by them, which play key role in the process of development...

Developing countries in the system of international economic relations

b) Development and restructuring of commodity exports of developing countries

For a number of traditional goods, shares are being redistributed among the developing countries themselves. Thus, from the 90s to 2005, there was a decline in Africa’s share in total exports from developing countries. It fell more than 2 times (from 1...

Russia's strategic interests in global oil and gas markets

2. Main directions of development of oil and gas exports

If we recall history, it is not difficult to notice that in 1987 Russia (without other republics of the USSR) produced 571 million tons of oil. This was the highest oil production in one country in the entire history of the world's oil industry...

Forms and methods of state stimulation and support of exports (German experience)

1.3 Modern directions of development and export support

Modern national system state support export is, as a rule, a complex of a significant number of institutions in the supplier’s country and abroad, central and local executive authorities...

Economic growth of advanced economies

2.3 Main directions of foreign economic policy of developed countries

The rapid growth of world economic relations in the second half of this century led to the expansion and increase in the role of the foreign economic sphere.

The reasons for this are…

Goals and objectives of OPEC

All twelve states are deeply dependent on the earnings of their own oil industry. Probably the only state that represents an exception is Ecuador, which receives significant profits from tourism, timber, sales of gas and other raw materials. For other OPEC countries, the level of dependence on oil exports ranges from a low of 48 percent in the history of the United Arab Emirates to 97 percent in Nigeria.

OPEC was organized by oil exporting states to fulfill the following main goals and objectives:

• Coordination and unification of the oil policy of the member states;

• Determining more effective collective and personal means of protecting their interests;

• Implementation necessary funds and methods for ensuring the sustainability of prices on the major oil market;

• Protecting the interests of oil producing states by providing them with sustainable profits;

• Ensuring an efficient, constant and profitable supply of oil to purchasing states;

• Ensuring that investors receive objective profits from financial investments in the oil industry;

• Ensuring environmental protection;

• Working together with countries that are not considered members of OPEC to implement initiatives to stabilize the major oil market.

Now members of the organization control approximately two-thirds of the proven oil reserves on the planet. OPEC guarantees 40% of world production and half of the major exports of this valuable raw material. The organization coordinates oil production policies and large-scale pricing of crude oil, and also sets quotas for the volume of oil production. And despite the popular belief that OPEC’s time has passed, it still remains one of the more authoritative global investors in the oil industry, characterizing its upcoming formation.

Common difficulties in the formation of all OPEC states

Because most of, if not all of the OPEC member countries are considered developing states with similar municipal adaptation, with a similar culture, ideology, politics, then of course they all encounter the same obstacles on the thorny path of development. Basically, all these obstacles are connected with the inveterate mentality of the people of these states. Since it is very difficult to move to a new type of public structure without having time to wean ourselves from those foundations and customs that have been strengthened in the minds of the people for centuries.

One of the main shortcomings of OPEC is that it unites powers whose interests are often the opposite. Saudi Arabia and other powers of the Arabian Peninsula are sparsely populated, but they own huge oil reserves, large investments in foreign countries and maintain very close relations with Western oil companies. Other OPEC member states, such as Nigeria, are characterized by high population and poverty, they have sold expensive financial development programs and have gigantic debt.

The second seemingly simple problem is the obvious “where to put the funds.” Because it is not always easy to take advantage of the rain of petrodollars pouring into the country. Monarchs and rulers of states on which their wealth collapsed were eager to use it “for the popularity of their personal people” and therefore started various “construction projects of the century” and other similar plans, which cannot in any way be called a meaningful investment of money. Only later, as soon as the euphoria from the first happiness passed, as soon as the ardor cooled down a little due to the fall in oil tariffs and the decline in municipal earnings, the funds of the municipal budget began to be spent most appropriately and well.

The third problem is compensation for the scientific and technical backwardness of the OPEC countries from the main countries of the world. Since at the time of the creation of the organization, some of the states that were part of it had not yet gotten rid of the remnants of the feudal system! The solution to this problem could be rapid industrialization and urbanization. Introduction latest technologies in creation and, in accordance with this, the life of the inhabitants of our planet did not pass without any traces for the people. The main steps of industrialization were certain foreign firms, for example ARAMCO in Saudi Arabia, and the intensive recruitment of private capital into industry. This was done through the method of multilateral government support for the private sector of the economy. For example, in the same Arabia, 6 special banks and funds were created that provided assistance to businessmen under the guarantees of the country.

4 problem is considered to be the lack of government personnel. It turns out that employees in the state were unprepared for the introduction of new technologies and were unable to service the advanced machines and equipment that were supplied to oil production and processing enterprises, as well as other factories and enterprises. The solution to this problem was the recruitment of foreign professionals. It was not as simple as it might seem at first glance. Since this soon gave rise to a lot of contradictions, which intensified with the development of the community.

Russia and OPEC

Since 1998, Russia has been considered an observer in OPEC. During this period of time, the parties acquired positive partnership skills. A promising format of regular meetings has emerged Russian ministers with OPEC leaders and employees from the states that are members of this company.

Now OPEC is simply making contact not only with officials of the Russian fuel and energy complex, but also with Russian universities, which are preparing professional personnel of a new level to achieve desired result.

The world faces the risk of a "prolonged oil doom" and must prepare for oil prices to remain high for a long period, the International Monetary Authority said. This is the most sudden of official warnings that have so far sounded on the scale of long-term monitoring for energy supplies.

Our homeland pays significant attention to the situation in the oil markets, not only in contacts with OPEC states, but also in cooperation with key consumer countries. For Russia, these are, first, the European powers (within 90 percent of oil exports). Thus, on the scale of the Energy Dialogue between the Russian Federation and the European Union, the powers agreed, namely, to jointly analyze the issue of the impact of strategic oil reserves on the stabilization of the oil market.

All OPEC powers are deeply dependent on the profits of their own oil industry. Probably the only state that represents an exception is Indonesia, which receives significant profits from tourism, timber, sales of gas and other raw materials that were used. For other OPEC countries, the level of dependence on oil exports ranges from a low of 48 percent in the history of the United Arab Emirates to 97 percent in Nigeria.

It follows from this that in the absence of a foreign market there is no point in talking about the development of OPEC states. Export of raw materials, being the main source of income for states, “pulls” along with it domestic economy. It follows from this that the economies of the countries participating in the cartel are directly dependent on global tariffs on hydrocarbon raw materials.

It seems that oil prices are required to cover the production and major risks of manufacturers. If you look at it from a different angle, prices may not have an impact negative impact on the development of the world economy and, namely, are obliged to allow investments in the development of the oil industry

OPEC and WTO

The importance of energy for financial development cannot be overestimated, but this problem is often ignored at the level of large-scale institutions, and the norms of international trade in the energy sector actually do not work. The efforts of the WTO, for example, first concentrate on overcoming barriers to imports, while in the field of energy restrictions mainly affect exports.

Unlike other products, fossil fuels are unique. They guarantee a huge portion of the world's energy, although they are a finite resource. Fears related to resource shortages are forcing major investors to take constructive measures to ensure access to energy sources. There may be an upcoming escalation of geopolitical clashes, in particular taking into account the monitoring of professionals about an increase in demand for energy resources by 50% by 2035, 80% given growth are required to cover fossil fuels.

The importance of fossil fuels to meet growing demand in consuming countries is also reflected in the importance of these resources for exporting countries. The final ones evaluate energy as a fundamental tool for personal development - in all the qualities of this concept. As a result, they often take steps that contradict the principles of independent trading. Energy exclusivity is increasing due to growing environmental concerns. Countries that have made promises to reduce emissions use subsidies and subsidies to produce other energy, which contradicts the principles of independent trade and the WTO.

The norms of international energy trade must avoid the latter approaches - both the introduction of all the fundamentals of free trade and one-sided municipal or regional regulation.

(The Organization of the Petroleum Exporting Countries, OPEC) is an international organization created to coordinate sales volumes and set prices for crude oil.

By the time OPEC was founded, there was a significant surplus of oil supply on the market, the appearance of which was caused by the start of the development of giant oil fields- primarily in the Middle East. In addition, the market entered Soviet Union, where oil production doubled from 1955 to 1960. This abundance has caused severe competition in the market, leading to a constant decline in prices. The current situation was the reason for the unification of several oil exporting countries into OPEC in order to jointly resist transnational oil corporations and maintain the required price level.

OPEC as a permanent organization was created at a conference in Baghdad on September 10-14, 1960. Initially, the organization included Iran, Iraq, Kuwait, Saudi Arabia and Venezuela - the initiator of the creation. The countries that founded the organization were later joined by nine more: Qatar (1961), Indonesia (1962-2009, 2016), Libya (1962), United Arab Emirates (1967), Algeria (1969), Nigeria (1971), Ecuador (1973) -1992, 2007), Gabon (1975-1995), Angola (2007).

Currently, OPEC has 13 members, taking into account the emergence of a new member of the organization - Angola and the return of Ecuador in 2007 and the return of Indonesia from January 1, 2016.

The goal of OPEC is to coordinate and unify the oil policies of member countries to ensure fair and stable oil prices for producers, efficient, economical and regular supplies of oil to consumer countries, as well as a fair return on capital for investors.

The organs of OPEC are the Conference, the Board of Governors and the Secretariat.

The highest body of OPEC is the Conference of Member States, convened twice a year. It determines the main directions of OPEC's activities, decides on the admission of new members, approves the composition of the Board of Governors, considers reports and recommendations of the Board of Governors, approves the budget and financial report, and adopts amendments to the OPEC Charter.

The executive body of OPEC is the Governing Council, formed from governors who are appointed by states and approved by the Conference. This body is responsible for managing the activities of OPEC and for implementing the decisions of the Conference. Meetings of the Board of Governors are held at least twice a year.

The Secretariat is headed Secretary General appointed by the Conference for three years. This body carries out its functions under the guidance of the Board of Governors. It facilitates the work of the Conference and the Governing Council, prepares communications and strategic data, and disseminates information about OPEC.

The highest administrative official of OPEC is the Secretary General.

The acting Secretary General of OPEC is Abdullah Salem al-Badri.

OPEC headquarters is located in Vienna (Austria).

According to current estimates, more than 80% of the world's proven oil reserves are in OPEC member countries, with 66% of total reserves OPEC countries are concentrated in the Middle East.

Proven oil reserves of OPEC countries are estimated at 1.206 trillion barrels.

As of March 2016, OPEC oil production reached 32.251 million barrels per day. Thus, OPEC exceeds its own production quota, which is 30 million barrels per day.