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Emilie Young
 Post subject: "Oil Prices"
PostPosted: Thu Dec 06, 2007 6:23 pm 
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Joined: Mon Dec 03, 2007 6:43 pm
Posts: 6
Location: Orlando
Hi, I would like to know, who sells oil to the rest of the world? Does OPEC, the producer, act as middleman also?
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steve.austin
 Post subject: Re: "Oil Prices"
PostPosted: Sun Dec 16, 2007 10:37 am 
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Joined: Fri Aug 18, 2006 5:28 am
Posts: 81
Emilie Young wrote:
Hi, I would like to know, who sells oil to the rest of the world? Does OPEC, the producer, act as middleman also?

Emilie, Oil producing countries and companies sell oil mostly on their own term. OPEC does not sell oil but is an organization similar to a "labor union" where its members meet and try to agree on setting output quotas. In reality OPEC has little enforcement authority and its members do pretty much what they want when they pump and sell oil.
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probafix
 Post subject: Re: "Oil Prices"
PostPosted: Sat Jun 12, 2010 6:16 am 
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Joined: Mon May 03, 2010 10:32 am
Posts: 7
Now OPEC fell their oil production and demand gain due to which oil prices will go up.
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