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    What group is trying to control world oil production and its prices?

    Question #80457. Asked by armindasantana. (May 15 07 4:01 PM)


    1cyprus

    		OPEC, the Organisation of Oil Producing and Exporting Countries have controlled this for a long while.

    http://en.wikipedia.org/wiki/OPEC



    May 16 07, 1:02 AM
    BungeeAZ

    		Oil prices are dictated on the open market through futures/commodities trading, taking into account world events, supply, demand and refinery capabilities.

    OPEC determines how much oil they (as a consortium) will allow on the open market.

    May 16 07, 11:48 AM

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