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The Organization of the Petroleum Exporting Countries (OPEC / ˈ oʊ p ɛ k / OH-pek) is an organization enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize profit.
States that form part of the Organization of the Petroleum Exporting Countries (OPEC). ... Former OPEC member states (4 P) Pages in category "Member states of OPEC"
On 9 January 1968, three of the then–most conservative Arab oil states – Kuwait, Libya, and Saudi Arabia – agreed at a conference in Beirut, Lebanon to found the Organization of Arab Petroleum Exporting Countries, aiming to separate the production and sale of oil from politics in the wake of the halfhearted 1967 oil embargo in response to the Six-Day War.
The Organization of Oil Exporting Countries -- better known as OPEC -- has been a dominant player in the oil market since it was formed in 1960. The 12 member countries have provided over 40% of ...
Approximately 72% of world oil production came from the top ten countries, and an overlapping 35% came from the twelve OPEC members. Members of OPEC+ , which includes OPEC members produce about 60% of the world's petroleum. supply and demand In addition to being top 5 in oil production, the United States and Russia are also top 5 in oil exports ...
Saudi Arabia is the leading member of Opec, a cartel of 12 oil-producing nations which has a remit to "work together to ensure stable oil prices". The price of crude fell by 1% after Trump spoke.
The group includes the 12 members of OPEC, the longstanding group set up to coordinate oil production to stabilize markets, plus 10 more significant oil-producing nations with Russia by far the ...
Map of countries with proven oil reserves - according to US EIA (start of 2017) Trends in proven oil reserves in top five countries, 1980–2013 (data from US Energy Information Administration) A map of world oil reserves according to OPEC, January 2014