Opec+ controls more than 80% of the world's oil production. Because opec+ controls more than 80% of the global oil production, the daily oil production determines the oil price in the international market. As the daily output increases, the oil price will decrease. On the contrary, when the Organization of Petroleum Exporting Countries reduces its daily oil production, oil prices will rise. In a short time, opec+ oil production controls oil prices. Organization of Petroleum Exporting Countries (opec+) was founded in 1960. Its purpose is to coordinate the oil policies of various countries, agree on the output and price of crude oil, take concerted action against the exploitation and plunder of oil-producing countries by western countries, protect their own resources and safeguard their own interests.