Name_______________
Oil / OPEC
Period_____
20 Points
Instructions: Complete the following questions and tables as you navigate the appropriate
websites.
Log on to www.opec.org
1. What does OPEC stand for?
2. Now click About OPEC. How many countries are in OPEC?
Match the member countries in OPEC to their geographical regions below (If you aren’t sure, go
to www.worldatlas.com then click on find any country here to find out where these countries
are located.):
MIDDLE EAST
AFRICA
SOUTHEAST ASIA
SOUTH AMERICA
If you’re not there, find your way back to About OPEC. Then click on the History link on the left.
3. When and where was OPEC create. Who were the 5 founding countries? What region do 4 of
the 5 belong to?
4. Click on Functions on the left. Read the first paragraph on the MC’s (member countries). Try
to sum in 1 or 2 sentences what OPEC’s main function is.
5. Now click on Member countries on the top of the page. Click on the individual countries listed
below to fill in the chart below with the individual country information.
Country
Algeria
Indonesia
Iran
Iraq
Kuwait
Libya
Nigeria
Qatar
Saudi Arabia
UAE
Venezuela
Proven Crude Oil Reserves
Crude Oil Production
5. Now click on FAQ’s , at the top of the page, then click on Crude Oil and its Uses. How much
oil is in a barrel?
Click on About the Petroleum Industry.
6. How much oil is there in the world? How much does OPEC have?
7. How much oil is consumed each day?
8. Which countries have the largest proven oil reserve? What region are they all in.
9. Which countries produce the most oil? Why might these be different from above?
10 . Will oil continue to be the most important energy source? Why or why not?
11. How long will OPEC’s reserves last? How long will the rest of the world’s reserves last?
Now click on the home page and then click on OPEC Daily Basket Price. What is a good
description of the OPEC reference Basket price? What is the current OPEC daily basket price?
12. Look at the graph on the right. What is the trend?
Given that the rate of consumption continues to rise and if the trend continues and the oil
reserves will last as long as your answer in #11, what course of action should we be taking to
ensure that we have an adequate energy supply in the long term future. Write a paragraph on a
separate sheet of paper with your ideas and suggestions.