Opec
Concept of Opec
An introductory definition of Opec is provided here: Organization of Petroleum Exporting Companies: cartel of oil producers formed to control the price and supply of oil on world markets
Definition of OPEC
Within the context of international organizations, the following is a brief meaning of opec: The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization of twelve oil-producing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela
OPEC has twelve member countries: six in the Middle East, four in Africa, and two in South America. Every member of OPEC is a net exporter of Oil
Indonesia withdrew in 2008 after it became a net importer of oil, but stated it would likely return if it became a net exporter again
Ecuador joined the organisation in 1973 and left it in 1991, while Gabon, which joined the group in 1975, dissociated with it in 1995
OPEC was formed by Iran, Iraq, Saudi Arabia, Kuwait and Venezuela in Baghdad in 1960. The organisation controls nearly 40 per cent of the international crude oil trade.
OPEC
The Organization of Petroleum Exporting Countries, abbreviated as OPEC, is a global organisation devoted to ensuring stability and shared control of the petroleum markets. OPEC was established in September 1960 and formally constituted in January 1961. The headquarters, originally in Geneva, were moved to Vienna in 1965
OPEC members are: Algeria (DZ), Angola, Ecuador, Iran (IR), Iraq (IQ), Kuwait (KW), Libya (LY), Nigeria (NG), Qatar (QA), Saudi Arabia (SA), the United Arab Emirates (AE), and Venezuela (VE).
OPEC
Embracing mainstream international law, this section on opec explores the context, history and effect of the area of the law covered here.
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See Also
- Foregin Policy
- Foreign Affairs
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See Also
- International Organization
- Foreign Relations
- Intergovernmental Organization
- Regional Organization
- Regional Integration
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Further Reading
- The entry “opec” in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the Encyclopaedic Dictionary of International Law, 2009), Oxford University Press
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Further Information
Organization of the Petroleum Exporting Countries
See Also
World Trade Organization
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See Also
- International Organization
Hierarchical Display of OPEC
International Organisations > World organisations > World organisation
Geography > Economic geography > OPEC countries
OPEC
Concept of OPEC
See the dictionary definition of OPEC.
Characteristics of OPEC
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Translation of OPEC
Thesaurus of OPEC
International Organisations > World organisations > World organisation > OPEC
Geography > Economic geography > OPEC countries > OPEC
See also
- Organisation of Petroleum Exporting Countries
- Organization of Petroleum Exporting Countries