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 ?
The Gas Exporting Countries Forum (GECF), which is due to meet on Thursday in Doha, has been seen a talking shop that cannot emulate the power of the Organization of the Petroleum Exporting Countries.
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.
Mohammad Ali Khatibi,Iran's governor to the Organization of the Petroleum Exporting Countries, also said one of Mirkazemi's goals was to maintain the Islamic state's position as OPEC's second-largest crude producer.
Summary: VIENNA - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell below 60 dollars Friday, despite the cartel's decision to curb production.
Recently head of the Organization of the Petroleum Exporting Countries (OPEC), Rodriguez understands the cartel's cagey quota game as well as anybody.
We are hostages of the oil companies, the power companies and the Organization of the Petroleum Exporting Countries.
In the ever-continuing saga of crude futures and the Organization of the Petroleum Exporting Countries (OPEC), crude has slipped below 60.
The four countries, represented at the meeting, have common interest in cooperation in the energy sector since they are oil producers and members in the Organization of the Petroleum Exporting Countries (OPEC)," Dr.
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.
Khatibi's comments came days ahead of a meeting of the Organization of the Petroleum Exporting Countries in Vienna on Wednesday.
Speaking at a news conference to mark the 50th anniversary of the Organization of the Petroleum Exporting Countries, Badri declined to comment on what it would decide when it meets to reconsider output policy next month.

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