Why these countries produce less oil inspite of high reserves | The OPEC cartel 

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00:00 Introduction
02:09 How is oil made
03:24 Discovery of oil
04:22 Seven Sisters or Big Oil
06:20 Formation of OPEC
06:55 1973 oil embargo
08:10 How OPEC controls oil prices
09:04 The Future ??
In this informative and engaging video, we delve into the history, formation, and profound influence of OPEC (Organization of the Petroleum Exporting Countries) on the world oil market. Explore how OPEC's inception in 1960 was a response to the dominance of multinational oil companies, and how it sought to protect the interests of oil-producing nations. Discover how this powerful energy cartel has shaped global oil prices, production levels, and geopolitics over the decades. Gain insights into the critical role OPEC plays in maintaining energy stability, addressing crises, and influencing international relations. Unravel the complex dynamics that drive the ever-evolving landscape of the oil industry.
#opec #opecplus #oil