OPEC Countries 2022

Fifteen countries comprise the Organization of the Petroleum Exporting Countries, more often known as OPEC. Over 81.5 percent of the world’s oil reserves are held by OPEC’s 15 member countries, which produce 44 percent of the world’s oil. Consequently, the intergovernmental body works together to coordinate and harmonize policies mostly related to the oil price.

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Periphery Countries 2022

Sociologist Immanuel Wallerstein’s world-systems theory divides nations into three groups: core countries, periphery countries, and transition countries. These categories help researchers better understand global history and social change. There are three levels of nations in world-systems theory: Core, Periphery and Semi-Periphery. Countries in the sociological model of the World-Systems Theory: Core countries: Produce goods that need

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