The Energy Crisis
Peter Evans
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VI. WHAT IS OPEC AND WHAT IS ITS POSITION IN INTERNATIONAL POLITICS?
The Organization of Petroleum Exporting Countries was organized in 1960 to enable its member nations to formulate a common policy, to set certain trade rules, and to establish prices for their tremendous fuel supplies. Its members produce more than half the world’s oil and supply about 80 percent of the oil imported by non-member nations. OPEC has become one of the most influential groups in world politics because of its great supply of oil. Its member nations are Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Saudi Arabia, United Arab Emirates and Venezuela. More than half of its members are Middle Eastern countries. The largest oil reserves are in Saudi Arabia, which is our largest supplier and closest friend within the group. Previously, we had close ties with Iran. In the Iranian crisis, our closest allies West Germany, Japan, Britain and France did not wholeheartedly support us because of their dependence on Iranian oil.
