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OPEC

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Definition of the noun opec

What does opec mean as a name of something?

noun - plural: -

  1. an organization of countries formed in 1961 to agree on a common policy for the production and sale of petroleum

Other definitions of opec

What does opec also mean?

acronym

  1. Organization of Petroleum Exporting Countries

Explanation

OPEC, a permanent, international organization with its headquarters in Vienna, Austria, was established in Baghdad, Iraq on 10–14 September 1960. Its mandate is to "coordinate and unify the petroleum policies" of its members and to "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 a fair return on capital for those investing in the petroleum industry." In 2014 OPEC comprised twelve members: Algeria, Angola, Ecuador, the Islamic Republic of Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela. According to the United States Energy Information Administration, OPEC crude oil production is an important factor affecting global oil prices. OPEC sets production targets for its member nations and generally, when OPEC production targets are reduced, oil prices increase. Projections of changes in Saudi production result in changes in the price of benchmark crude oils.

  • also known as Organization of Petroleum Exporting Countries, Organisation of Petroleum Exporting Countries
  • official website: www.opec.org

Printed dictionaries and other books with definitions for OPEC

Click on a title to look inside that book (if available):

Google previewEnvironmental and Natural Resources Economics, Theory, Policy, and the Substantial Society (2016)

Economics, Economics by CTI Reviews

OPEC is an oil cartel whose mission is ...

Google previewECON Macro 3 (2016)

by CTI Reviews

OPEC is an oil cartel whose mission is to coordinate the ...

Google previewManagerial Economics and Business Strategy (2016)

by CTI Reviews

OPEC is an international organization and economic cartel whose mission is to coordinate the policies of the oilproducing countries. The goal is to secure a steady income to the member states and to collude in influencing world oil prices ...

Google previewEconomics (2016)

by CTI Reviews

OPEC is an oil cartel whose mission is to coordinate ...

Google previewManagerial Economics, Applications, Strategies and Tactics (2016)

by CTI Reviews

OPEC is an oil cartel whose mission is to coordinate the policies of the oilproducing countries. The goal is to secure a ...

Google previewEssentials of Economics (2016)

by CTI Reviews

OPEC is an oil cartel whose mission is to coordinate the policies of the oilproducing countries. The goal is to ...

Google previewEconomics, Principles, Problems, and Policies (2016)

Economics, Economics by CTI Reviews

OPEC: OPEC is an oil cartel whose mission is to coordinate the policies of the oilproducing countries.

OPEC is an intergovernmental organization that was created at the Baghdad Conference on 1014 September 1960, by Iraq, Kuwait, Iran, ...

Google previewPrinciples of Economics (2016)

Economics, Economics by CTI Reviews

OPEC is an oil cartel whose mission is to coordinate the policies ...

Google previewEconomics and the Environment (2016)

Economics, Economics by CTI Reviews

OPEC is an intergovernmental organization that was created at the Baghdad Conference on 1014 September 1960, by Iraq, Kuwait, Iran, ...

Google previewOperations Management (2016)

by CTI Reviews

OPEC is an international organization and economic cartel whose mission is to coordinate the policies of the oilproducing countries. The goal is to secure a steady income to the member states and to collude in influencing world oil prices ...

Google previewPrinciples of Economics, Brief Edition (2016)

Economics, Economics by CTI Reviews

OPEC is an oil cartel whose mission is to coordinate the policies of the ...

Google previewModern Principles of Economics (2016)

Economics, Economics by CTI Reviews

OPEC is an oil cartel whose mission is to coordinate the policies of the oilproducing countries ...

Google previewThe Legal Environment of Business (2016)

Business, Business law by CTI Reviews

OPEC is an international organization and economic cartel whose mission is to coordinate the policies of ...

Google previewUrban Geography (2016)

by CTI Reviews

OPEC is an oil cartel whose ...

Google previewWhy We Hate the Oil Companies (2011)

Straight Talk from an Energy Insider by John Hofmeister

OPEC produces twice as much oil per day as the combined global output of all the major international oil companies, including ExxonMobil, Royal Dutch Shell, BP, Chevron, ConocoPhillips, and Total. OPEC is the antithesis of the free market .

Google previewThe Two Lefts: Chavez, Venezuela, and Contemporary Left-Wing Politics (2007)

by Teodoro Petkoff

OPEC is an organization riddled with numerous contradictions, and its members look at each other with suspicion. A few of them have confronted each other, even on the battlefield in very deadly and bloody wars. None of them, with the ...

Google previewEncyclopedia of Global Warming and Climate Change, Second Edition (2012)

by S. George Philander

OPEC calls on those industrialized nations responsible for the bulk of historical GHG emissions and therefore largely responsible for climate change to bear the greatest financial and leadership burdens in emissions reduction efforts.

Google previewThe Encyclopedia of Kidnappings (2002)

by Michael Newton

OPEC terrorist kidnapping ered on May 25 near Greenwater, Washington, north of Mount Rainier. On June 9, 1987, Lisa Szubert disappeared from a truck stop at Mountain Home, Idaho. Last seen with a young man bearing the familiar knuckle ...

Google previewRoutledge Encyclopedia of International Political Economy (2002)

by R. J. Barry Jones

Concurrently, OPEC decided to increase prices unilaterally. However, because so few commentators in the West were aware of the existence of OAPEC, it was generally assumed that both the embargo and the price increases were the work ...

Google previewThe Concise Encyclopedia of The Great Recession 2007-2012 (2012)

by Jerry M. Rosenberg

OPEC ( ORGANIZATION OF PETROLEUM EXPORTIN G COUNTRIES). A group comprising thirteen ...

Google previewAmerican Economic History: A Dictionary and Chronology (2015)

A Dictionary and Chronology by James S Olson, Abraham O. Mendoza

They initially formed OPEC to gain some power over oil prices. Throughout the 1960s, however, OPEC had relatively little power. But in the 1970s, the organization became an enormously powerful cartel. Increased global oil consumption ...

Google preview2008 International Petroleum Encyclopedia (2008)

by Joseph Hilyard

million b/d SUPPLY OECD US Canada Mexico North Sea Other OECD Total OECD Non -OECD OPEC-12 OPEC Crude Algeria Angola Indonesia Iran Iraq Kuwait Libya ...

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Photos about OPEC

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OPEC

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Small photo of OPEC concept isolated on white background. This has clipping path.Small photo of VIENNA - JUL 22: Building Organization of the Petroleum Exporting Countries (OPEC) on July 22, 2012 on Helferstorferstrasse 17 in Vienna, Austria.Small photo of VIENNA, AUSTRIA, DECEMBER 19, 2015: view of the main lobby of the OFID - OPEC fund for international development - headquarters in vienna, austria.Small photo of Vienna, Austria, March 2018: OPEC building in central ViennaSmall photo of Vienna, Austria, March 2018: OPEC building in central ViennaSmall photo of OPEC Waving FlagSmall photo of VIENNA, AUSTRIA - DECEMBER, 24 Entrance to Organization of the Petroleum Exporting Countries OPEC headquarters More...

Video about OPEC

Explanation of Oil Barrel Pricing - The Price of Gasoline Gas OPEC 2015 Razor Resources LLC

Razor Resources LLC Houston, Texas (281) 624-6090...

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Quotes about OPEC

The Christians had a better chance against the lions than the American consumer has against the OPEC cartel. (Ed Markey)
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Scrabble value of O1P3E1C3

The value of this 4-letter word is 8 points, but it's not an accepted word in the Official Scrabble Players Dictionary.

Anagrams of OPEC

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Semordnilap

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Other anagrams

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