Date of this Version
Gross, M. 2024. The Future of the Organization of the Petroleum Exporting Countries. Undergraduate Honors Thesis. University of Nebraska-Lincoln.
The Organization of the Petroleum Exporting Countries (OPEC) is a multinational and intergovernmental organization that dictates the petroleum exportation policies of 13 countries: Algeria, Angola, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, the Republic of the Congo, Saudi Arabia, the United Arab Emirates and Venezuela (About Us, 2023). The mission of OPEC is to ensure a stable supply of petroleum through its shared policies for its Member Countries and consumers (Our Mission, 2023). Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela founded OPEC in 1960 under the foundations and principles that dictated the international world order. Those foundations and principles have lasted for over 60 years and, arguably, may continue to help or hinder the goals of OPEC. Through Strengths, Weakness, Opportunities, and Threats (SWOT) analysis, this paper will evaluate the different facets of OPEC through a literature review and analyze the possible future that OPEC may face.