In this chapter you have learned about the global importance of this region of the world, due in part to the fact that it contains about two-thirds of the world's oil reserves. Oil is essential both for developed countries and for developing countries that are becoming industrialized and improving their economies. In this activity you will learn more about the Organization of the Petroleum Exporting Countries (OPEC) and its influence on global oil prices.
Destination Title: OPEC
Start at the OPEC Web site.
- Click on About OPEC at the top of the screen. Read this brief introduction, and then click on and read the History link.
- Click on FAQs at the top of the screen, and then click on About the Petroleum Industry. Explore the answers to the questions presented.
- Click on Crude Oil and Its Uses in the box at the left of the screen. Read this information.
Using the information you gathered reading the above site, answer the following questions.