During the past two days we had the opportunity to visit The Organization of the Petroleum Exporting Countries (OPEC), The Canadian Embassy and The United Nations in Vienna.
It was interesting to see the other side of OPEC. We personally did not know what exactly OPEC does. The main things we learned from the presentation was what OPEC does, how much they produce and their sister organization. OPEC includes 14 member countries with the goal of achieving cooperation, stability and benefit for their state holders. The most important part we learned from this is understanding how all three of these are interconnected. It is important to understand how they effect each other and adapt accordingly.
We found it interesting that OPEC counts for roughly 40% of the crude oil production. With the amount of influence and member states OPEC has, we were surprised by how low this number was. We learned that no matter your size in this industry, your voice will be heard.OPEC plays an important role in the sale and production of crude oil. We learned that OPEC has an international organization known as OFID. This stands for the OPEC Fund for International Development. It was establish in 1976 and provides financial support to developing countries. Of all the things, this was new to us. It was interesting to see how these two organization work together. Crude oil and financial aid are very different from each other.
It was interesting to see the other side of OPEC. We personally did not know what exactly OPEC does. The main things we learned from the presentation was what OPEC does, how much they produce and their sister organization. OPEC includes 14 member countries with the goal of achieving cooperation, stability and benefit for their state holders. The most important part we learned from this is understanding how all three of these are interconnected. It is important to understand how they effect each other and adapt accordingly.
We found it interesting that OPEC counts for roughly 40% of the crude oil production. With the amount of influence and member states OPEC has, we were surprised by how low this number was. We learned that no matter your size in this industry, your voice will be heard.OPEC plays an important role in the sale and production of crude oil. We learned that OPEC has an international organization known as OFID. This stands for the OPEC Fund for International Development. It was establish in 1976 and provides financial support to developing countries. Of all the things, this was new to us. It was interesting to see how these two organization work together. Crude oil and financial aid are very different from each other.
During our visit to the Canadian Embassy, we were greeted by the senior Trade Commissioner. We learned the differences and similarities between Canada and Austria with regards to globalization and economic success. We started our last day in Vienna with a tour of the United Nations. We sat in on presentations by UNCITRAL and UN Environment: Vienna Programme Office. We concluded the day with a tour of Ottakringer Brewery and a visit to The Wein Therme.
The question we have for our classmates is:
Did the OPEC presentation change your perspective on the crude oil industry?
- Ashton and James
No comments:
Post a Comment