By Chiana McLatchie
VIENNA- Given the recent development in North Africa and the Middle East, the countries of the OPEC strongly implore the Security Council to take economic and military action against ISIS. If no action is made, the countries threaten to reduce oil production and increase prices.
In a recent interview, delegates of the OPEC countries of Iran, Saudi Arabia, Algeria, Qatar and Kuwait came forth demanding solutions regarding the rise of the Islamic extremist group ISIS. Since these countries do hold the majority share of the oil market, a change in prices could drastically affect their revenue and economic stance worldwide.
The countries did not present motivations behind their statement, however it could be due to ISIS’s recent activities on the oil black market or their impeding presence on Saudi Arabia’s and Iran’s land.