The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
OPEC, in full Organization of the Petroleum Exporting Countries, Multinational organization established in 1960 to coordinate the petroleum production and export policies of its members. Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela are the founding members.
Updated October 18, 2021 Reviewed by Thomas Brock Fact checked by Ariel Courage OPEC stands for the Organization of the Petroleum Exporting Countries. As the name suggests, OPEC is made up of
OPEC is an intergovernmental organization that controls much of the world’s oil supply. Find out why it formed and which countries are members.
In accordance with its Statute, the mission of the Organization of the Petroleum Exporting Countries (OPEC) is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and
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what does opec stand for
