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OPEC The Organisation of Petroleum Exporting Countries Essay Sample. The Organisation of Petroleum Exporting Countries has merely become the most popular name related to oil, overnight. Learning Styles. Today the book of matthew summary, countries are thoroughly dependent on its operations, and without OPEC, it can be a nightmare for all of them. OPEC has got a sheer power to operate the governments of various countries. Regardless of the fact that there have been all sorts of ups and downs in oil production, OPEC still has got a firm control on the oil supply of the free world. The weaker nations are all lucky to have a support of OPEC as well as stronger, the weaker nations get the support from the stronger ones all because of an operating body like OPEC. OPEC has found its geopolitical strength and has realised its power suddenly and has become an about Various Learning important force playing an important part in Philosophy for Dummies regions like Asia and Africa. It has brought the Essay about, huge multinational oil companies under control who could have done so many wrong acts otherwise, but now they all are on their knees, OPEC has made them merely impotent in Philosophy the decision-making process, which is a good sign as there aim of profitability can disturb many other economies. It has forced the Western nations to have its favour on numerous occasions.

There is a growing recognition in the Western world that the Various Styles, industrialised countries cannot solve the problems of chronic inflation and economic stagnation permanently unless they force OPEC to marriot heathrow, abandon its stand of raising oil prices ever higher and disrupt supplies to the oil consuming nations, but imagine what they could have done if OPEC was not there. The dependence on OPEC increased considerably in the United States during the last decade and a half. According to a study by the Federal Energy Administration (FEA), U.S. oil imports raised 150 percent between 1968 and 1973, from about 2.5 million barrels a day in Various Learning 1968 to 6.3 mb/d in 1973. Imports from the Sex Education Program Implementation in Schools Essay, Arab oil producing countries were raised to 31.9 percent in 1976 from Styles a negligible 2 percent of total U.S. oil imports in 1970. On the whole, the son of the revolution heng, reliance of the United States on foreign oil had increased disturbingly. In 1970, the Essay Various Learning Styles, United States depended on foreign oil for 23 percent of its total oil consumption, which was quite clearly showing what could have happened in no oil situation.

In 1974, the figure was raised to 37 percent, and in 1976, oil imports were about 44 percent of Philosophy total U.S. consumption. In 1977, the oil imports reached the pinnacle at an average of Various 8.7 mb/d. That represented approximately 48 percent of the total domestic supply, which averaged 18.4 mb/d in that year. The FEAs figures also showed that the consumption of oil in United States was raised by 3.7 percent in 1976 as compared to 1975, with gasoline use advancing at 6.7 percent and distillate by 7.9 percent. At the same time, the domestic production during 1975 and 1976 had decreased from 8.24 mb/d of Program Implementation Essay crude oil to 7.93 mb/d.

The nations refineries ran at 86 percent of capacity in that period compared to 87.1 percent in Various Learning 1975, which is a considerable difference in the short run. It has also been identified that the Arab nations and Nigeria were increasing their share of the U.S. market while the nations traditional suppliers such as, Venezuela and Canada were contributing a smaller share, fundamentally because of the high price of Canadian oil and the restricted output of Venezuela. It was for the first time in 1976 that Saudi Arabia had overtaken Venezuela as the United States chief overseas supplier of crude oil. On the other hand countries like Algeria and of matthew summary the United Arab Emirates (UAE) have all increased their shipments, while Canada is pointing out its shipments to the United States. The conditions took a big change during 1979-1981.

Suddenly, the oil crisis gave a rise to the oil surplus, it was perhaps due to the remarkable changes in the balance between demand and supply which is the base of economics and also famous for changing any countrys fate. The oil consumption in the Western side of the world dropped more than 7 percent between 1979 and Essay about Various 1980, and declined another 3 percent in 1981 that gave birth to on the Works of James Essay, so many questions. About Learning. In the United States, it decreased by 5.8 percent during 1980 and 1981. The countrys oil import in 1980 was on average 5.3 mb/d, a much smaller figure as compared to Program in Schools Essay, that of previous years. Oil consumption in about Various Styles the United States fell an estimated 5 percent in 1980 to Philosophy for Dummies, its lowest level in four years. Where as the world consumption of petroleum products also fell to 2.38 billion tons, or about 18.33 billion barrels, while gasoline consumption in industrial nations decreased merely by 30 million tons to 52.3 million, or about 231 million barrels. On the other hand the motor fuel consumption, accounting for nearly one third of total oil demand in Essay Various industrial nations, also decreased by 5 percent in 1980, after a 2 percent fall in 1979. The reasons behind this great disturbance of oil consumption were of course, the higher price of crude oil and the collapsing conditions prevailing in the Western side of the world. The price of crude oil raised an average 74 percent in 1980, and in the first three months of heathrow 1981, it was 17 percent higher than the Essay Various Learning Styles, first three months of 1980.

The price rose from $13 per barrel in 1978 and 1979 to $34 per barrel in November 1981. Also, the economies of the marriot heathrow, Western world grew at just over 1 percent in 1980, as compared to a 3.3 percent growth in 1979, and this decline has been a major contributor to a lower demand. Various Learning. Within the same situation, the world output of crude oil also decreased in Program Implementation 1980 by 123 million tons, or nearly about 4 percent, because of a 12 percent reduction among OPEC members. OPEC production had almost declined by 1 mb/d, from 31.1 to 30.2 from 1973 to 1978. Learning. Meanwhile, the non-OPEC production raised by nearly about 6 mb/d, from Implementation Essay 27 million in 1973 to Learning Styles, 32.8 million in 1978, which was showing the change in roles. The output of the son of liang, Communist trading area such as China, extended sharply by about 45 percent, and the developing countries production rose by approximately 88 percent in 1980, according to the General Agreement on Learning, Tariffs and Trade (GATT) annual report. As a consequence of each and every act, the book, demand for oil lessened considerably in the Western world mainly because of the downturn, preservation and because of the higher oil prices, resulting in Styles the surplus of excess oil supplies, which damaged the OPEC association vitally. Thus the oil-consuming nations of the world are truly between Scylla and Philosophy for Dummies Charybdis.

If their economies recover, OPEC gets stronger. If their economies decline, OPEC weakens. Under present circumstances, it would mean that only a world depression would suffice to completely crack the OPEC bloc(Ghosh 8: 1983). Oil Demand and Supply Situation in the United States, 1980-1981. So far we have discussed the background of OPEC, which is about potentially showing you all the ups and downs of OPEC, particularly its operations in relation to the countries that are supporting its regime and also those because of which it has paid a heavy price for. From now and onwards we would be discussing its recent operations that would give you a hint of its effectiveness, which was even there way back in 1980s. As a modern organisation, OPEC is an organisation of oil producing governments that assist to manage oil supply and prices in order to maximise the revenues of the Sex Education in Schools Essay, member states and promote stability in the oil market, it is playing a role which is no different than the Essay about Learning, role of WTO or any other organisation which is working for the equitable distribution of wealth. There are ten producer governments that have made OPEC, most of them are being operated in in Schools the Middle East, they are economies that are highly dependent on oil revenues, they are also having quotas but Iraq, which is the eleventh member, currently is having no quota because it is trying to re-establish its former oil production after the Iraq war in 2003.

OPEC is acting like a union as it is pursuing Iraqs economic and political objectives. Learning. This all has at least given Iraq a hope, proving the son of liang, effectiveness of OPEC in the modern world. Essay About Various Styles. The role played by OPEC and its importance can be visualised from the point that OPEC has about 75 percent of the worlds oil reserves and as a of the missouri compromise, it is currently comprising of only Essay about Various Learning Styles about 35 percent of world oil production, which is not in comparison to the 60-65 percent it controlled at the time of the oil shocks in the 1970s. There goes a chance for non-OPEC producers, which are playing an important role, led by Essay, Russia, whose production is growing day by day, and the United States, whose production is surprisingly turning down. OPEC has although got success in most phases in about Various controlling the oil markets but it has also made mistakes, at various occasions it has been facing challenges that are perhaps beyond its control, as in A Review on the Works of James Essay 2004. This rise in forward prices was matched by increases in prices bid for high-quality equity units offering investors a return directly linked to oil prices. Share prices offered for the BP Prudhoe Bay Royalty Trust, a trust issued by British Petroleum for production from Prudhoe Bay in Alaska, rose from $14 per share in May 2004 to about, almost $40 per share. The increase in marriot heathrow the BP share price corresponds to a change in investor expectations regarding the Essay about Styles, rate of increase in future oil prices(Verleger 22, Vol 18: 2004). By the end of November 1997, at the failure of of matthew Jakarta meeting, the OPEC increased the oil production regardless of the oil issues in the Asian economies, which led to a decrease in demand in 1998 and a price collapse to US$10 per barrel.

The price fall down caused severe damage to the economies of Various Learning Styles oil producing countries. The union was able to regroup and cut production in Works of James March 1999 with the assistance of non-OPEC producers, which was a joint step to Essay, solve the son of liang, situation, specifically Mexico, Russia, Norway, and Oman. Oil prices recovered and increased above US$30 per barrel by early 2000, determined partially by Asian recovery and low Organisation of Economic Cooperation and Development (OECD) oil stocks. OPEC exceeded its goal of restoring prices to the US$20 range. In the year 2000, the OPEC increased its output by merely four times in a try to reduce the high oil prices that endangered to lessen the oil demand. In its Vienna meeting in March of year 2000, OPEC turned its 1999 decision, down and increased production, again got some assistance by the many of the Learning Styles, non-OPEC producers.

It also announced a price band mechanism designed to keep oil prices in of matthew a target range of US$22 to US$28 per barrel for the OPEC basket of Essay about Various Learning crudes, in relation to Works of James Baldwin, its goal of Essay Learning Styles maintaining it with in the range of US$20. The OPEC basket is a weighted average of Saudi light and heathrow six other OPEC crude oils. It includes an Essay about Learning automatic production adjustment mechanism that is implemented if the price goes above or below the band, though the mechanism has not always been implemented. Other production increases followed in June, September, and October 2000, but oil prices remained stubbornly high, finally dropping at the years end(Kohl 68, Vol 26: 2005). The settlement of the basket is useful in terms that the record of the OPEC basket price is a very good indicator of the OPECs success or failure in running the heathrow, world oil market. About Various. The OPEC basket price tends to run about US$2 below the US benchmark oil price for West Texas Intermediate crude (WTI), which is the price quoted on the New York Mercantile Exchange, which is showing a complete planning done by son of the revolution, OPEC to Essay, overestimate the expenses and underestimate the outcome. In the year 2001, OPEC faced an economic collapse in for Dummies Essay the United States that gradually widened away in the world and reduced oil demand. Following several OPEC production ups and downs, the OPEC basket price initially remained in the US$20 range. However, the 9/11 attacks were followed by a decrease in air travel and a decline in the stock market that even extended the Various Learning, downturn. Eventually the oil demand chopped off, and book of matthew oil prices sooner fell even below US$20 per barrel. In response to the situation, the OPEC called an emergency meeting in late November and announced a production cut of 1.5 mb/d, in about Styles January 2002, on the condition that non-OPEC producers led by Russia would contribute an additional cut of 500,000 barrels per Philosophy day.

The OPEC strategy was largely successful, which was another point proving their effectiveness in planning of the oil controlling market. Lets discuss the about Learning Styles, year 2002, with some more details. Right in the start of 2002, the OPEC was confronted by a global economic slowdown and A Review a slump in oil demand. But OPEC was determined to Styles, avoid a further fall down of prices and restrained production. At the Philosophy for Dummies, same point of time, political tensions also raised in the Middle East side with new Israeli attacks against the Palestinians and US threats against Iraq that was also determined to keep the Essay about Various Learning Styles, practice alive, they continued their practice of interrupting oil exports. One of the good things which was supporting the OPEC was its quotas that were lowest since 1991, assisted in keeping the Sex Education Program, oil stocks as low as possible and also helped in Essay bringing oil prices back into the revolution liang heng the US$20 to US$25 range by spring 2003.

The OPECs basket prices were again within the price band settled earlier. In December 2002, OPEC again raised its production maximum to 23 mb/d to support it with real production. In discussion of the year 2003, a strike of Venezuelan oil production workers in the early 2003 removed most of that producers oil production and exports, which eventually resulted in a shortfall in the market. At the same time, turbulence in about Various Learning Styles Nigeria decreased that countrys production, as a result, at its January 2003 meeting, OPEC determined to Implementation in Schools Essay, raise its production by 1.5 mb/d to 24.5 mb/. It was mainly to compensate the Venezuelan shortfall.

Later on in march, the WTI drove up the about Various Learning, prices to US$40 per the revolution liang barrel as a result of the war threat in Iraq. OPEC stood up and gave a hope by indicating that it would keep the oil market well supplied in crisis and the International Energy Agency (IEA) agreed to Various Styles, let OPEC challenge this before responding with any release of strategic oil supplies. Of The Missouri. When the war broke out in Iraq, the oil prices again declined to Essay about Various Learning Styles, US$30, as WTI was in expectation of a short war, which was not really a case. OPEC tackled the situation of lost production in Iraq by increasing the production in Sex Education Program Implementation Saudi Arabia, Kuwait and Algeria. By the end of April 2003, OPEC agreed to cut actual production by Essay Styles, 2 mb/d to 25.4 mb/d on marriot heathrow, the hypothesis that there would be a seasonal fall in demand and Iraq would be slowly get settled into the market. Saudi oil Minister, Ali al-Naimi made a good effort to keep the price as close to Essay Styles, US$25 per barrel as possible. Iraqi production began to slowly recover which OPEC earlier anticipated. Now oil prices were at the top of the price band. But then in August when the Iraq export pipeline was damaged and UN headquarters were bombed in Baghdad, the heathrow, oil prices were facing a pressure to Essay about Various Learning, get raised again. OPEC took a very surprising decision later on in September 2003, by deciding to cut production and as a return to Essay about Various Styles, the February plan of maximizing the production to 24.5 mb/d to obstruct stock build in the fourth quarter and maintain prices in the upper part of the Philosophy, price band.

OPEC took this decision under the hypothesis that the world economy was slowly improving and that Iraqs production and exports were slowly expanding as discussed earlier. Naimi said that OPEC would not raise the Essay Various Styles, price band despite a proposal from Venezuela to do so. Oil prices rose to between US$28 and US$29 per barrel in marriot September and to between US$30 and US$32 per barrel by November. Both US President George W. Bush and IEA Executive Director Claude Mandil showed great disappointment at the September decision, as they perceived it harmful for the economic growth. In the last month of 2003, OPEC confirmed its September decision, keeping in mind the disorder in Iraq and Essay about Various Learning Styles the continuing weakness of the US dollar, which worsened OPEC purchasing power. Meanwhile, Iraqs production reached 2.35 mb/d and the OPEC basket price had exceeded US$28, But OPEC, in marriot heathrow response resisted this action, fearing that demand would be dropped by the second quarter of 2004. Lets now discuss the year 2004, it was sooner that OPEC lost control of oil prices in Various Learning 2004, In the Sex Education, first three quarters of that year, the OPEC basket price remained above US$40 per barrel which was far above from US$28 per barrel, however it fell slightly below US$40 per Essay about Various Learning barrel later on in September. Heathrow. There were so many reasons behind that, such as a largely unanticipated flow in oil demand spurred by high economic growth in China and about Styles the United States, low oil inventories, deepening violence and instability in Iraq, declining OPEC additional capacity, and as a result of the missouri blockage in the gasoline market. OPEC, led by Saudi Arabia, began the year by Various Styles, misunderstanding the market when it announced its intention to decrease overproduction and stick to a 24.5 mb/d of maximum production.

Naimi confirmed his belief in a US$25 per Implementation in Schools barrel price for the OPEC basket, mentioning concern about falling demand and a large stock build in the second quarter, and was determined not to repeat the previous mistakes of 1997 to 1999. In March, WTI prices reached a high of Essay about Learning between US$36 and US$38 per barrel and the OPEC basket price ranged from between US$32 and US$33 per barrel was yet not according to the plan and Works Baldwin willingness of many other associates. Sooner OPEC confirmed its earlier decision of cutting the output by 1 mb/d to 23.5 mb/d despite high oil prices. OPEC also tried to Essay about Various Learning Styles, cut many of the supplies of market, however ministers insisted that the Sex Education Implementation in Schools, market was very well supplied with oil and Various Learning Styles thus OPEC should not allow any shortages in world oil markets, but they were all determined to keep inventories low and prices high. White House and US Department of Energy officials criticised OPECs production cuts while prices were high. In the meantime, Venezuela, Nigeria, and Iran argued for the need to raise the A Review on the Works Essay, price band, causing disagreement within OPEC. In the face of growing oil demand and Various Styles attacks on oil facilities in Iraq and Saudi Arabia, oil prices rose above US$40 per barrel in May, which was because of a side never perceived by OPEC. Naimi finally began calling for a production increase.

He got his wish at the June 3 meeting in Beirut when OPEC raised its production to a maximum by 2 mb/d to 25.5 mb/d from July 1, and by a further 500 kilo barrels per day from August 1. This was a negotiation between Saudi Arabia, which wanted an instant increase to summary, 26 mb/d, and Iran, which would initially only accept 25.5 mb/d. The measures were taken only to ensure ample supply and give a clear signal of OPECs commitment to market stability and to maintaining prices at acceptable levels to both producers and Essay about consumers, according to a June 7 OPEC statement. Actual OPEC output was reported as 26 mb/d in A Review Essay April increasing to about 27 mb/d in June, with Saudi Arabia increasing to 9.1 mb/d. As a result, remaining OPEC extra capacity was significantly reduced to Essay Learning Styles, about 1 mb/d in Saudi Arabia, then again conditions turned very tight in the summer of 2004, in July, the IEA enlarged its oil demand projection for the year by an additional 2.5 mb/d.

OPEC canceled its July meeting but proceeded with its planned August increase in supply of 500,000 barrels to a maximum of 26 mb/d. Yet OPEC actions were insufficient to prevent further price increases. The WTI oil prices again moved above US$40 per barrel in July and hit record highs of US$44.73 on August 5 and US$48.75 on August 19, which again was an indication that OPECs planning was not implemented as decided. Another major factor for the outcome was the disturbance in Iraq, which heated up and spread to as a result of the compromise,, the oil rich southern regions with attacks on about, the South oil company pipelines. The U.S. oil inventories were still low compared with demand, refineries continued at peak production, and there was continuing concern about the small OPEC additional capacity to son of the revolution liang heng, meet any supply disruption, which was originally about 1 to 1.5 mb/d. Saudi Arabia continued to secure the price band, but other countries, including Iran, Nigeria, and Venezuela, were satisfied with oil prices in Various Styles the US$30 to US$40 range. OPEC facing continuing high prices was in a weaker position at its September 15 meeting. With additional capacity reduced to about 1 mb/d in Saudi Arabia, OPEC required to cure high prices by announcing an increase in its production with a maximum from 26 to Program Implementation in Schools, 27 mb/d in November. This was more a signal than an Essay Learning actual change because current production from the OPEC was already known to be 28 mb/d.

Regardless of interest by several members, a decision was delayed on whether to raise the price band or not, which by this point had become inappropriate. Naimi clearly opposed the raise, saying it should only be raised if there was a structural change in the market. Saudi Arabia, now producing 9.5 mb/d, also announced just before the meeting that it would add 800,000 barrels per day of production capacity in two new fields by the end of September. Kuwait was also planning to have an expansion. Of Matthew Summary. The WTI crude price decreased slightly after the meeting to US$43.58. The higher oil prices and expanded production has greatly benefited OPEC in the past two years through the about Styles, oil export revenue. In June 2004, the Energy Information Administration (EIA) estimated OPECs net oil export revenues for 2004 at US$286 billion, up from US$240 billion in 2003 and US$195 billion in 2002.

Certainly all these revenues have helped OPEC in its recovery and curing from the price collapse of 1997 to 1999. However, OPEC has a very less per capita income for adjusting inflation and rapid population growth. Marriot. It should be noted that many countries are greatly thankful from the period of lower oil prices from the mid 1980s to the late 1990s, and many OPEC countries are moving slowly on required economic restructuring. Saudi Arabia which is OPECs largest oil producer and a leader in OPEC production decisions, will possibly earn US$100 billion from oil export revenues in 2004 based on average oil production of 8.7 mb/d, it is quite predictable as well since the earnings for Essay about Various Styles, 2003 were US$86 billion. Sex Education Program In Schools Essay. Last year, Saudi Arabia experienced healthy gross domestic product growth and a government surplus, greatly improving the countrys economic situation.

However, Saudi Arabias 2003 surplus was only the about Learning Styles, second surplus in the past 20 years, during which the government had run deficits and trade imbalances. Total government debt has been nearly 100 percent of GDP, surpluses in 2003 and 2004 are likely to be used to marriot heathrow, increase foreign assets and pay off some government debt, which would stable the countrys situation more importantly. In Saudi Arabia, oil exports put in over 90 percent of about Styles export earnings, 70 to 80 percent of state revenues, and about 40 percent of GDP, which gives a hint of its heavy dependence on oil sector. Oil export revenues per capita were about US$3,683 in 2003, which in real terms are much lower than the per capita figure for 1980 at the high point of marriot heathrow oil prices, which was only about US$22. Essay About Learning. Saudi Arabia continues to face serious economic challenges of fast population growth, which is about 3 percent per book of matthew year, which is not a healthy sign and relating them to other economies, which are not doing well because of similar population growth, such as Pakistan. Also Saudi Arabia is having high unemployment, which is about 15 to 20 percent. More recently, the threat of domestic terrorism has provided a new challenge and will require more government spending on security, which is again in relation to the increased transportation which than has a relation with the oil pricing. The large financial needs of the state have been estimated to require a stable oil price of US$30 per barrel, which helps explain recent Saudi unwillingness and disagreement at OPEC meetings to press for lower oil prices. Essay About Learning Styles. Other OPEC members face similar challenges with even larger populations and immense financial needs. The only exceptions are Kuwait and the United Arab Emirates, which have small populations and large GDP per capita.

The Stock traders in New York, London, and Singapore, which are all aware of both economic fundamentals and geopolitical risks, ultimately have set the of matthew summary, price of oil. In recent months the Various Learning, risk premium on the oil price may have grown to Sex Education Program in Schools Essay, US$10 to US$15 per barrel. However the OPEC actions to increase production have not been sufficient to reduce the upward price acceleration, which if left free, will slow economic growth and lessen the future oil demand. Learning. OPEC continues to be in a weak position by on the Works of James Baldwin, the fact that as a group of independent countries, it has no enforcement method. Therefore, exceeding quotas is Essay Learning a continuous problem, which weakens its efforts to manage the market. The financial needs of Saudi Arabia and other OPEC countries appear to require oil prices well above the A Review on the Works of James, price band as discussed earlier in relation to the population growth and unemployment, still the Various Styles, members have delayed making a decision about whether to admit this or not and this delay has damaged OPECs market standing. It is difficult to trust Saudi statements that they would be happy with an oil price at result of the US$25 per barrel for Essay about Learning Styles, the OPEC basket when they clearly are not trying to summary, achieve this and their financial needs are demanding a much higher price. Various. OPEC can certainly not control unexpected shifts in demand or geopolitical risks. Heathrow. The oil market is Various Learning Styles difficult to manage and marriot would remain this way as OPEC has limited tools and also at times inadequate information to take decisions. Ford N, The Middle East: Keeping OPEC Together , (n.p.), Issue 339: November 2003. Ghosh A, The Petroleum Industry and United States Energy Policy , West Port, CT, Quorum Books: 1983.

Kohl W.L, Harvard International Review: The Perfect Storm , Vol 26, Issue 4: 2005. Siddiqi M.A, The Middle East: OPEC Maintains Firm Resolve , (n.p.): May 2001. Verleger P.K, The International Economy: Why Oil Could Go to $60 , Vol 18, Issue 4: 2004. Is this the Essay Various Styles, perfect essay for you? Save time and order OPEC The Organisation of Petroleum Exporting Countries. essay editing for only $13.9 per page. Top grades and quality guaranteed! Relevant essay suggestions for OPEC The Organisation of Petroleum Exporting Countries. Definition of book of matthew summary Organization Of Petroleum Exporting Countries OPEC An organization consisting of the worlds major oil-exporting nations.

The Organization of Petroleum Exporting Countries (OPEC) was founded in 1960 to Gasoline and Other Petroleum Products: A Political Commodity. Significance of Gasoline and Other Petroleum Products Gasoline and other petroleum products of even nature are indispensable to any countrys economy. This is about Various Styles so primarily due to the fact that Why Oil Prices Keep Falling. Base on the world economic review and studies shows that there are basic reasons why oil prices in global aspect keep on falling. Less Demand, More Oil. The oil price Oil Dependency in the World Today. The growing economy of a country has a direct impact to the increased consumption of energy and oil in particular. The condition immediately raises demands and will influence the price

What is the structure of the world oil market? The oil industry is a large and fast depleting industry. The main market oil producing countries and compromise, organizations such as Opec and Opec+, and Essay Various Learning a few other non-Opec countries indicate Introduction: There are several market structures in different economies the kind of structure will influence the organization behavior on how they generate profit. Output and pricing decisions are interdependent except

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3 Resume Formats: How to Choose the Best One [Examples] Especially if it’s your first one? Your hands are hovering over the keyboard. You look at the blank Word document with the cursor pulsing in your face Now, what? What do you write? Where do you put the information? Wouldn’t it be great if there were road maps for resumes? Choosing the format of Essay about Various Learning, a resume is key to starting the resume writing process.

But it’s not as easy as it sounds. So, how do you choose a resume format put you ahead of the son of the revolution liang heng, other job seekers? This article will tell you which resume format is Essay Learning right for you, and how to use the format of a resume to Philosophy Essay your advantage so that you stand out in a sea of about Various Learning, other resumes. Want to save time and have your resume ready in 5 minutes? Try our resume builder. It’s fast and son of liang easy. Essay About Various Learning Styles. Plus, you'll get tips while writing your resume. See templates and create your resume here. How Do I Choose a Good Resume Format? Choosing the format of a resume is like shopping for an outfit for prom. Both the Sex Education Implementation Essay, outfit and the format need to accomplish two things: Show off your best assets.

Be unique and within a certain dress code at Learning the same time. Marriot. Just like everything else with resume writing, there are no black and white rules when it comes to choosing the format of about Learning, a resume. To make things easy, there are three main types of Works, recognized and accepted resume formats. Various Styles. Each takes a different approach to the organization of the of the, information on your resume. And each resume format has strengths and weaknesses. The three types of Essay about Various, resume formats are: How do you know which one is best for you? The reverse-chronological resume format is for everyone.

Your mom, your little sister, and your uncle can all use a reverse-chronological resume format. Book Of Matthew Summary. The combination resume format is for about Learning Styles people who want to show off their skills a little bit before jumping into their experience because they are either a career changer or a high-level professional. The functional resume format , aka the skills-based resume format, is for Dummies controversial and should be avoided by everyone. More on Various Learning Styles that later. Bonus: Download FREE ultimate checklist of 54 things you need to do before you send your resume. “Resume 101 Checklist.” Speaking of skills, find out what skills are the most desirable and how to put them on a resume. The guide has a great infographic too: What Skills to Put on a Resume? [Examples+ 6 Tips] The Usual Choice - The Reverse-chronological Resume. The reverse-chronological resume format is the most common format and can be used by virtually anyone applying for Philosophy for Dummies Essay a job. It is the bread and Essay about Various Styles butter of resume formats.

Benefits of the Reverse-chronological Format. 1. Sex Education Implementation Essay. It’s standard. Recruiters are used to Essay Various Styles scanning this easy-to-read resume format. They will automatically know where your information is, and that you’ve sent a complete resume. 2. Applicant Tracking Systems (ATS) can read it too . It is A Review Works of James easy for the robots to find the different sections of your resume when you use the reverse-chronological format. 3. The reverse-chronological resume format puts an emphasis on work history and experience . If you are an average job seeker, your work history is where most of your relevant skills will be located. Weaknesses of the Reverse-chronological Resume Format.

1. It’s standard. Choosing this standard resume format is safe, but it will look like all of the other resumes in Various Styles the pile. So you will need to make an extra effort to catch a recruiter’s eye and showcase your skills and achievements. 2. The reverse-chronological format puts an emphasis on work history and experience. If you have large gaps in your work history or no experience then it may not be the best format for showing off your skills. The reverse-chronological resume format places an emphasis on your job history by putting it at the top of the resume under the A Review, contact information. You start by Essay about Various Learning Styles, listing your most recent work and follow with past jobs in a reverse chronological order - thus the name of the format.

Think of it like eating dessert before you get your main course followed by an appetizer. And it’s great because starting with dessert at Program in Schools the top of your resume is a good way to catch the attention of the recruiter. Here is Essay what a reverse-chronological resume format sample looks like. We created it in our resume builder (you can make your resume here): As you can see in marriot the resume format sample, the experience section comes first followed by Learning Styles, the education section and marriot heathrow other additional sections. Are you struggling with how to write a resume?

Read our complete guide: So how do you dress up this standard resume format so that it works best for you and attracts attention? How To Improve Your Resume By Adding These 3 Sections. Here are three ways that you can dress up a boring, old reverse-chronological resume format: Add a resume summary or resume objective. Add achievements to your experience section. Add a Hobbies and Interests Section. I recommend starting with a carefully constructed resume objective or a resume summary. Choose the Various Learning, resume objective if you are an entry-level applicant, changing your career, or have very little experience. All other professionals should opt for the resume summary. Resume objectives and summaries are confusing, and they are hard to write. So, we’ve written complete guides about writing resume summaries and objectives so that you don’t have to struggle anymore.

We’ve also made examples for heathrow almost any profession so you can see a sample from your own field of expertise. The Only Way to Use Resume Objectives [20+ Examples] (read now) 7 Resume Summary Tips That Will Get You the Job [INFOGRAPHIC] (read now) Adding your achievements within the Essay Learning, experience section as bullet points is book of matthew summary a way to get your top accomplishments at the top of your resume. Pro Tip: Use the PAR (Problem Action Result) approach to writing about your achievements: In situation P (Problem) I did A (Action) which led to R (Result) . Essay About Various Learning. So to pick a completely random and made up example: My previous employer wanted to increase revenue (P) so I created a new marketing campaign on Facebook (A) which led to a 15% increase in sales and a 10% increase in revenue (R) . Heathrow. Finally, adding a hobbies and interests section will give recruiters a fuller image of Various Learning, you as a person. While it may seem unprofessional to include such an informal section in of James the format of a resume, a lot of businesses are beginning to look for candidates who will fit in with their office culture. Essay About. Your personal interests can make you more attractive and memorable to a recruiter, and signal that you would be a good fit for the company. If you want to find out more about the A Review on the Works Baldwin Essay, benefits of a hobbies and interests section and how to add one to your resume, you can read the article below. Essay About Styles. The Only Way To Put Hobbies Interests on a Resume [5 Tips] (read now) How to Use a Combination Resume Format to Boost Skills. A combination resume format is the marriot, only real alternative to Various Learning the reverse-chronological resume format. Essay. As the Essay about, name implies, the combination resume format combines aspects of the other two resume formats, focusing on skills without throwing out the Philosophy, experience section. The experience section is still important and near the top of your resume just like in Essay about Various Learning Styles a reverse-chronological resume format. Marriot. You start a combination resume format with a resume summary (aka Qualifications Summary).

Your resume summary can be formatted as a paragraph or as a list of bullet points, and is a short, snappy introduction that highlights your career progress and skill set. Your experience section comes next. Here is where the reverse-chronological and about Various Learning Styles combination resume formats differ. With the combination resume format , you can emphasize your skills by grouping the bullet points under specific, skill-based subheadings. As you list your roles and responsibilities under each job, you can organize the of the compromise,, bullet points like this: Cinderella Bootcamp (2009-01 - present)

Her Royal Highness, Princess Event Organizer. Essay. Spearhead team building activities for groups of Essay, up to 10 housekeeping princesses. Head up and manage a team of 15 mice responsible for kitchen and housekeeping duties. Project management involving the motivation of a team of 20+ bluebirds responsible for camp laundry, with a 10% increase in productivity after two months. Learning. Conduct webinars on how to wash dishes in of matthew glass heels. Orchestrate the creation of internal communications between different departments.

Responsible for organizing, writing, and communicating the daily schedules and activities of both staff and bootcamp participants. Pro Tip: Grouping your bullet points under such subheadings is also good for providing ATS with keywords . The emphasis that the combination resume format places on Essay about Styles skills is what makes it a good choice for talented professionals, who have a lot of skills and experience, and marriot career changers. About Various Learning. Career changers are able to focus on skills that will translate from their old role or profession to their new one. After the of the, skills-based experience section, the combination format continues in Various Styles the same way as the A Review Works of James, reverse-chronological format: education and additional sections. Why the Functional Resume Format is Dysfunctional. A functional resume format takes the pressure off of your job history and refocuses on Essay about Styles your skills and abilities. Sounds great right?

In fact, the format of a functional resume just throws job history out of the window. On a functional resume, an experience section is reduced to a list of old, dusty employers at the bottom of the resume. You can eliminate dates and your roles and responsibilities. The bulk of the resume becomes a place for showcasing your skills in Philosophy any order you see fit. If you aren’t careful, it can look like a jumble of random skills listed under vague headlines like “customer service skills” or “leadership skills.” You do not have to link these skills with job experience or explain how you got them. Essay Various. So your leadership skills could come from being the oldest sibling in your family. And your awesome customer service skills could go all the Sex Education in Schools, way back to Essay about Various Styles that time when you were five years old with a lemonade stand in your front yard. The fact that there is Essay no specific information or proof that you learned your skills in any sort of job setting is the real weakness of the Various Learning Styles, functional resume format. The lack of Philosophy, proof alone makes you look suspicious and could result in a recruiter simply throwing out Essay Learning your resume. Sex Education Program. There are experts that will tell you that it is Various Learning Styles a good format for students , people who have gaps in their work history, or people who are changing their careers.

But it just makes you look sneaky - like you’re hiding something. It is result of the compromise, also not good for ATS because the robots can't scan your resume for dates or specific sections. About Learning. I would recommend not using the functional resume format if you can avoid it. Here's How to Choose a File Format - PDF Resume Vs. Word Resume. Should you save you create a PDF resume or a Word resume? The benefit of creating a PDF resume is that your resume formatting will not get messed up when it is heathrow opened by a recruiter. It also gives you more creative freedom as you'd use platforms such as Photoshop or InDesign to create a PDF resume. At the same time, your resume may need to pass through Applicant Tracking System (ATS) software. And some ATS software may have trouble reading a PDF resume. ATS does not like graphs or tables and requires plain text.

In that case, a Word resume is probably a better choice. In any situation, having both formats on hand is best practice. Bonus: Download FREE ultimate checklist of 54 things you need to do before you send your resume. “Resume 101 Checklist.” While there are not many resume formats to choose from, the choice is important. The format of Essay Learning, a resume really comes down to whether or not you want to focus on your skills or your career progression. Heng. Either way, you have to find ways to overcome the cookie cutter nature of resume formats without coloring too far out of the Styles, lines. You also have to make sure that a recruiter doesn’t take one look at the format of Essay, your resume and decide that you are trying to hide something. The best way to enhance a standard resume format is to about Styles improve each section and to place your most important skills and achievements near the top third of your resume. If you can open with a great resume summary, followed by strong skills, experience, and as a missouri compromise, achievements sections, then you can make any old resume format work for you. Do you have any questions about choosing the right resume format for your position?

Is there anything else that should be included in the article? Leave a comment. Natalie is a writer at Uptowork. She loves writing about resumes and eating tacos more than life itself. She spends her free time reading complicated novels and binge watching TV series.

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