Is OPEC a (successful) cartel?

The Organization of the Petroleum Exporting Countries (OPEC) was founded in Baghdad in 1960 by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Nowadays the international organisation counts 14 Members. OPEC’s mission is: to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure anContinue reading “Is OPEC a (successful) cartel?”