OPEC at 50 and the next 50 years

OPEC on Sept. 14 marks 50 years of existence. 

In its early years in the 1960s, the Organization of the Petroleum Exporting Countries had little price impact. 

That changed with the Arab-Israeli War of 1973 and an Arab oil embargo, which oil producers said was in response to the U.S. decision to supply the Israeli military. 

For graphic showing Brent oil price history back to 1957, please click r.reuters.com/puv42p 

The group's fame was cemented under the charismatic leadership of Saudi Oil Minister Sheikh Ahmed Zaki Yamani, who was in office from 1962 until his summary dismissal in 1986. 

Since then, OPEC's power has ebbed and flowed. The following questions the scope of its future influence. 

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