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 ?
Elsewhere, crude futures have turned higher after members of the Organization of the Petroleum Exporting Countries (OPEC) talked about more production cuts at next month's meeting.
Saudi Aramco plans to supply full volumes of crude to least six buyers in Asia in May, despite cutting production to comply with a deal between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers.
The current meeting is part of the work agenda carried out by Chancellor Delcy Rodriguez along with Peoples Minister of Petroleum and President of Petroleos de Venezuela (PDVSA) Eulogio Del Pino in order to discuss joint strategies with other oil producing countries members and non members of the Organization of the Petroleum Exporting Countries (OPEC) towards an stabilization of oil prices.
VIENNA - The Organization of the Petroleum Exporting Countries (OPEC) said on Tuesday that its basket price stood at USD 46.
Early last week during the reference trading period, market sentiment cooled following failed talks between members of the Organization of the Petroleum Exporting Countries and a handful of outsiders such as Russia.
TEHRAN (FNA)- Organization of the Petroleum Exporting Countries (OPEC) released program of its upcoming ordinary 168th Conference which will be held in Vienna on Friday.
Indonesia, formerly Southeast Asia's sole representative at the Organization of the Petroleum Exporting Countries (Opec), may miss its crude oil production target this year following the uncovering of a graft case that has highlighted the uncertainty in the country's upstream oil and gas sector.
Al-Shahristani spoke during an anniversary celebration of the Organization of the Petroleum Exporting Countries founding in Baghdad 50 years ago, according to a report of the Associated Press.
Summary: The Organization of the Petroleum Exporting Countries (OPEC) started on Wednesday morning in Vienna its ordinary ministerial spring meeting, which will "probably" decide to keep its offer levels at 24.
Khatibi said the 12-member Organization of the Petroleum Exporting Countries would not hold an extraordinary meeting before its next scheduled meeting in Vienna on March 15.
Recently head of the Organization of the Petroleum Exporting Countries (OPEC), Rodriguez understands the cartel's cagey quota game as well as anybody.
The Organization of the Petroleum Exporting Countries announced its widely expected move in a communique issued during a semiannual meeting of its 11 oil ministers.

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