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Describe market trends OPEC will face

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Describe market trends OPEC will face
Explain your conclusions. Address how each of the following will change or will not change, and why:

a. Market structure
b. Impact of new companies entering the market
c. Prices

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Market Trends
The Organization of Petroleum Exporting Countries (OPEC) is a permanent and intergovernmental organization, created at Baghdad in 1960. OPEC's objective is to co-ordinate and unify petroleum policies 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 (The Organization of the Petroleum Exporting Countries (OPEC), 2008).

This Organization was jointly formed by Five Founding Members and later through its international prominence nine other members had collaboration with it. The headquarters of the Organization of the Petroleum ...

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