Description
In this critical thinking assignment, you are required to address following three questions with sub questions: In a critical essay, investigate the dynamics OPEC has faced in the global market in the last ten years. In this assignment, you can either use a member country (like KSA) or the entire the OPEC member countries as a block to address some of the following issues: 1) The first part of the question asks you discuss dynamic evolution of OPEC as a powerful organization and a trading community. This part of the question can be answered by trying to answer the following sub questions: a. What is a cartel? Why is OPEC considered a Cartel? Make sure you cite the textbook in this section. b. Briefly discuss the rise of prominence of OPEC as a powerful organization in the 1970’s, specially the oil embargo on USA. You can cite data in this section. c. What is the main challenges OPEC has faced in the last 10 years? If you want to, you can start your discussion from 2001. You must answer at least two questions out of the three parts defined above to satisfy your answer for the first question. 2) Discuss some of the main effect of the challenges faced by OPEC and its member countries over the referenced time. You can cite data in this section.
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