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]
Allusions—Cultural, Literary, Biblical, and Historical: A Thematic Dictionary. Copyright 2008 The Gale Group, Inc. All rights reserved.

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
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
References in periodicals archive ?
Of the four candidates, only Saudi Arabia's man is not a former petroleum minister, a position OPEC secretary-generals have traditionally held at some point.
In the meeting, the member states would also select OPEC Secretary-General. OPEC was founded in Baghdad in September 1960 with the signing of an agreement by five countries of Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela.
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.
Summary: DUBAI -- Gulf OPEC producers that raised oil output to compensate for the shutdown of Libyan oilfields will certainly reduce production as Libya's output recovers, OPEC Secretary-General Abdullah Al Badri said on Monday.
OPEC Secretary-General Abdullah al-Badri also said the market was "well supplied".
An ex-oil minister, diplomat and former OPEC secretary-general, Lukman now is the most powerful man in the petroleum sector next to President Yar'Adua.
Opec secretary-general Abdullah Al Badri, earlier called for tighter regulation of oil markets to reduce the amount of speculative investment, but did not give more details of how that could be achieved.
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.1.
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.
"Saudi Arabia's firm decision to retreat its candidacy for the post of OPEC Secretary-General has not yet been announced, but it seems that Iran and Iraq are stronger candidates for the post than Saudi Arabia," Iranian Oil Minister Rostam Qassemi said last month.