The Microeconomics of OPEC

—-Instructions—-

The paper should be 6 pages single spaced; not including the works cited page and title page.
However, the paper sources should be MLA and should contain in-text citations.
Also, before you send it to me, please provide me with a .docx copy of the research paper that you wrote.
The sources should contain 3 sources in JSTOR. If you don’t have access to JSTOR, then leave this requirement to me.

—-DIRECTIONS—-
I would also like to provide you with an understanding of what this paper is about. It is about OPEC, or the Organization of Petroleum-Exporting Countries, and understanding how it sets the prices of petroleum around the price. What is the criterion that they use to set the prices (Is it mathematics? or Is it pure will?). What effect does the price that they set have on the global economy?

Page 1: Introduction (What is OPEC? What is its history?)
Page 2: How does it set the price? (How does it calculate projected supply of member’s nations.)
Page 3: Continuation of Page 3.
Page 4: Add graph and explain. (The explanation should be about 2/3 of the page.)
Page 5: How does it affect other producers of oil, outside of the OPEC constituent states. (Does Russia change their production in accordance? How do the oil majors react to this?)
Page 6: How does it affect the commodity price of oil? Internationally.
Page 7: Add a graph (The explanation should be 2/3 of the page).
Page 8: Conclusion (Summarize everything that has been said before.)

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