OPEC

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OPEC:

see Organization of Petroleum Exporting CountriesOrganization of Petroleum Exporting Countries
(OPEC), multinational organization (est. 1960, formally constituted 1961) that coordinates petroleum policies and economic aid among oil-producing nations.
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OPEC

cartel of nations whose economic livelihood depends upon the export of petroleum. [World Hist.: WB, 14: 646]

OPEC

Organization of Petroleum-Exporting Countries: an organization formed in 1961 to administer a common policy for the sale of petroleum. Its members are Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. Ecuador and Gabon were members but withdrew in 1992 and 1995 respectively
www.opec.org
References in periodicals archive ?
Parra, who as a candidate for OPEC secretary-general in 1994 fell victim to the unanimity rule, secured the support of all OPEC member-states except for one.
DOHA, Sept 5 (KUNA) -- OPEC Secretary-General Mohammad Sanusi Barkindo underlined importance Monday of working together to overcome challenges facing oil markets, and ensure stability and to boost security and safety of supplies and demands to support stability of the global economy.
In the meeting, the member states would also select OPEC Secretary-General.
It may also finally decide on a new head after a vote to appoint a successor to OPEC Secretary-General Abdullah El-Badri has been postponed in June.
The Opec secretary-general, who was previously the energy minister of Libya, will be the guest speaker at the Gulf Intelligence Energy Markets Forum on September 19, which will be held at the Dubai Armani Hotel.
OPEC Secretary-General Abdullah al-Badri also said the market was "well supplied".
His ministry later said OPEC Secretary-General Abdullah al-Badri of Libya had given preliminary agreement to the idea when he and Shmatko met.
A slowing global economy would not impact demand in the short-term or lead to a price collapse, Opec Secretary-General Abdullah Al Badri said.
The Energy and Mines Minister since July 2002, when he succeeded Alvaro Silva Calderon as the latter became OPEC Secretary-General to replace Ali Rodriguez, Ramirez until then was head of the national gas regulatory body Enegas.
He has also been Iran's candidate for the post of OPEC secretary-general, a key function for which Venezuelan Energy Minister Ali Rodriguez was chosen on Nov.
They have chosen Ali Rodriguez, Venezuela's energy and mines minister and current OPEC President, as OPEC secretary-general to succeed Rilwanu Lukman of Nigeria from Jan.
Al-Omair noted that his is in contact with the OPEC Secretary-General Abdullah Salem Al-Badri to keep abreast with the developments and the outlook of the oil market, noting that the OPEC member states have a common interest in stopping or reversing the downward trend of the prices.