OPEC Was an Effective Cartel for Many Years,but Recently It

question 4

Essay

OPEC was an effective cartel for many years,but recently it has been unable to maintain a high price for oil.What factors do you think are contributing to the demise of OPEC?

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Definitions:

Conscientiousness

A characteristic of being reliable, dependable, and having a deep commitment to responsibility.

Big Five

A psychological framework that explains human personality via five wide-ranging traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Personality Psychology

A branch of psychology that studies personality and its variation among individuals, including traits, behaviors, and patterns of thinking.

Existential Awakening

A profound realisation or enlightenment regarding the nature of existence, often leading to a change in perspective on life.