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What is OPEC? | CNBC Explains

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The fluctuating price of oil is largely decided by supply and demand and the collective actions of OPEC, an organization that provides 40% of the world’s oil. CNBC's Tom Chitty explains. ----- Subscribe to us on YouTube: http://cnb.cx/2wuoARM Subscribe to CNBC Life on YouTube: http://cnb.cx/2wAkfMv Like our Facebook page: https://www.facebook.com/cnbcinternational Follow us on Instagram: https://www.instagram.com/cnbcinternational/ Follow us on Twitter: https://twitter.com/CNBCi

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