OPEC & WTO

What does OPEC stand for?

Organization of Petroleum Exporting countries

Which nation leads the Middle East región in the production and exporto f oil?

Saudi Arabia

Why was Opec created?

To regulate the supply and Price of oil

What happens to the Price of oil when OPEC countries decide to limit production?

Prices rise

WTO is the sucesor of?

GATT

Mostly, Middle Eastern Nations that work together with setting prices and production levels of oil:

OPEC (Orgnaization of petroleum exporting Countries)

The WTO hq is located in:

Geneve, Switzerland

Name of the last round of the GATT in which the WTO was born?

Uruguay

Since what year Mexico is a member of the WTO?

1995

The WTO derives most of the income for its annual Budget from contributions by its members.

TRUE

How many members does the WTO have?

164

How many observers governments does the WTO have?

25

In which year country was OPEC born?

Iraq

Fisrt members of OPEC?

Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.

In wich year was OPEC created?

1960

Where are the HQ of OPEC settled?

London, UK

Members of OPEC?

13

What is the main objective of the World trade Organization?

Promote free trade

When was the WTO set up?

1995