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The Organization of the Petroleum Exporting Countries (OPEC, / ˈ oʊ p ɛ k / OH-pek) is a cartel enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize profit.
The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization founded in 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. It has since expanded to 12 ...
Meanwhile, BofA analysis shows prices could drop to an average of $65 per barrel in 2025, particularly if the Organization of Petroleum Exporting Countries (OPEC) decides to bring barrels back ...
Oil prices fell 2% on Monday after China’s stimulatory plans failed to impress traders and oil alliance OPEC lowered its demand forecast. West Texas Intermediate closed at $73.83 per barrel ...
Below is a list with each secretary general of the Organization of the Petroleum Exporting Countries (OPEC), based on the organization's official publications. [1] [2] [3] [needs update] The secretary general is OPEC's chief executive officer.
Iran, a founding member of the Organization of the Petroleum Exporting Countries (OPEC), is responsible for more than 3 million barrels of crude oil production per day.
As Minister of Mines and Hydrocarbons during the second democratic government of Venezuela of President Rómulo Betancourt (1959–1964), he was responsible for the creation of the OPEC (Organization of Petroleum Exporting Countries) for the purpose of rationalizing and thereby increasing oil prices in the world market.
While the Organization of Petroleum Exporting Countries and its allies (OPEC+) have had output cuts in place to maintain a price floor, the oil alliance has made it clear it wants to bring back ...