THE REPRESENTATIVES OF FEW OPEC MEMBER COUNTRIES AND CARTEL OF PETROLEUM OIL COMPANIES ATTEMPT TO STABILIZE PETROLEUM OIL PRICE IN THE GLOBAL MARKETS MAY REMAIN A LONG TERM OBJECTIVE AND CHALLENGE TO ACCOMPLISH.

   The cartel of petroleum oil producing companies and Representatives of few OPEC member countries convened in Vienna earlier in the week in the attempt to stabilize petroleum oil declining prices per barrel of oil in both the domestic and International markets for better economic prospects and financial performance in financial and economic markets of many countries of the World  particularly of the petroleum oil producing countries by conventional approach of markets dynamics on essential and strategic commodities as the various energy sources required  for generation of electric power to run the industries and rejuvenate global economies as simply described by the cartel of the Arab World petroleum oil producing companies that makes five of the top ten global companies in the list of the five hundred successful and competitive financial and economic companies in the global markets, despite the constrains in the current global markets for the oil producing nations, specially of the Arab World conation's, The cartel attempt to reduce petroleum oil production of OPEC member countries to increase oil prices per barrel of  petroleum oil in the global markets may remain a long term challenge for the Organization to accomplish, due to differences among the oil producing countries on the allocated quotes, particularly by the World's major petroleum oil producing country of the Kingdom of Saudi Arabia followed by Iran Quatar and other Arab World and none Arab World countries as the United States of America which has announced its intention for withdrawal from Parish Climate Change and Environmental Protection AGREEMENT, besides the Kyoto Protocal for Climate Change and Environmental Protection Measures which may enable the United States of America to expand its reserve in Alaska and offshore  the gulf coast of Mexico in addition to the intended in production capacity that makes around twenty three percent (23%) of petroleum oil global production capacity to the seventy nine percent (79%) produced and controled by the Arab World OPEC countries. However, Climate Change and Environmental Protection Measures remains a distand dream for the Arab World countries, specially the major petroleum oil producing nations of the Arab World countries, despite Saudi Arabia involvement in the renewable energy sources technology it described may help the Kingdom of Saudi Arabia to reduce domestic consumption of fossil fuel in order to increase quotes for sale in the global markets.

        Written by Professor Godfrey Ohia.
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Name : Professor Godfrey Ohia.