Few international organizations have seen their reputations change as dramatically over the last several decades as the Organization of Petroleum Exporting Countries (OPEC). During the energy crisis of the 1970s, OPEC was widely thought to exert immense power over the global oil market. Many observers, especially in oil-importing countries, blamed OPEC for driving up prices and using its economic power to manipulate world politics. Today, by contrast, the rise of shale oil an