Changes

OPEC's stated objective is to co-ordinate and unify [[petroleum]] output among member countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry. <ref>http://www.opec.org/aboutus/history/history.htm</ref>

OPEC's stated objective is to co-ordinate and unify [[petroleum]] output among member countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry. <ref>http://www.opec.org/aboutus/history/history.htm</ref>

OPEC is frequently accused of maintaining artificially inflated oil prices by restricting oil production.

OPEC is frequently accused of maintaining artificially inflated oil prices by restricting oil production, but its ability to control the market price has declined with increased competition from the [[United States]] (especially new oil production in [[North Dakota]]), [[Mexico]], [[Norway]] and [[Russia]].<ref>http://www.bloomberg.com/news/2014-11-23/opec-easy-decision-days-seen-over-by-former-qatari-oil-minister.html</ref>

==Reference==

==Reference==