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Why did Venezuela help form OPEC, the Organization of Petroleum Exporting Countries? Venezuela wanted to make sure other countr...Question
why did venezuela help form opec ghe organization of petroleum exporting counties?
Venezuela wanted to make sure other countries did not produce oil?
Other oil-producing countries forced it to join or lose money.
Venezuela wanted to protect its role in the oil industry.
This was part of Venezuelas import substitution industrialization policy.
Venezuela wanted to make sure other countries did not produce oil?
Other oil-producing countries forced it to join or lose money.
Venezuela wanted to protect its role in the oil industry.
This was part of Venezuelas import substitution industrialization policy.
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GPT 3.5
Venezuela helped form OPEC to protect its role in the oil industry and ensure it had a say in setting oil prices. OPEC was initially formed to counter the dominance of Western oil companies and ensure that oil-producing countries had control over their own resources. By joining OPEC, Venezuela was able to collectively negotiate with other oil-producing countries and have more influence in the global oil market.
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