why opec want oil price at $50?

Answer 1

They want to have the price stabilize at $50.

They would rather have it at $70 but they know that we will develop alternatives QUICKER if it is at $70.

Also, at $70 the demand was lower. At $50 the demand is higher.

More demand gives them more money. That is what they need - MORE MONEY.

KKP

Answer 2

A good question indeed. Having sold the oil at various prices ranging from mid US$20s to mid $70 OPEC finds that $50 gives them the maximum profit with the right level of demand. Any higher price means less demand and also run the risk of customers actively seeking for alternative source of energy, which is a big threat indeed. If the demand for oil dwindles significantly then the opec countries are finished for good. This is bound to happen some time in the future, dont you think? Hope this answers your question.

Answer 3

Previously OPEC had kept the oil price around $27. Now they have increased the price to $50. OPEC feels that at this price, the consumers will not feel the pinch and they can make the maximum amount.

Answer 4

OPEC does not want oil priced too high to keep us dependent on cheap oil. It wants a price which is cheap enough to keep us hooked without giving up too much in price. Obviously, OPEC wants to make as much money as they can, but they realize that if they set the price too high, alternatives will show up that wil put them out of business. We have the ability to reduce our dependency on OPEC by 70 percent or more if we work at it. Solar Arrays and Hybrid vehicles are big steps in this direction. E85 and electric cars will greatly reduce our dependence on OPEC. These are things we need to do and OPEC is afraid that we will do them if they set their price too high.