Economic issues.
Oil as the central world commodity, leading to a fundamental change in the global economy.

To allocate scarce resources to satisfy their unlimited wants.

As you know in the world resources are divided into limited unlimited and recoverable with unlimited human needs it is necessary to develop a rational use of limited resources.

Combining oil-producing countries into one organization.

In the process of increasing the impact of oil on the economy the main oil-producing countries are merging into one organization to jointly raise oil prices.

Increase in demand on oil replacement products.

Сourse significant increase oil prices, need to switch oil-replacing products.

The OPEC oil price shocks.

When the price of some commodity increases, consumers will try to use less of it but producers will want to sell more of it.

The oil become scaree resourses.

Stage 1

Determination of oil as a scarce product.

Increase in demand on oil replacement products.

Stage 2

Combining oil-producing countries into one organization.

The OPEC oil price shocks.

The organization of economic activity on the proposal of cheap oil in large amount.

Byers

Sonsumsers

OPEC