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  OPEC
  Algeria  Mohamed Hamel 0 +100.00%
  Angola  Estévâo Pedro 0 +100.00%
 Congo, Republic of    
  Equatorial Guinea  Agustín Mba Okomo 0 +100.00%
 Gabon    
 Iran    
  Iraq  Alaa K. Alyasri 0 +100.00%
 Kuwait    
  Legal Office  Leonardo Sempértegui 0 +100.00%
 Libya    
 Nigeria    
  Office of the Secretary General  Shakir Mahmoud A. Al Rifaiey 0 +100.00%
  Research Division  Ayed S. Al-Qahtani 0 +100.00%
  Saudi Arabia  Adeeb Al Aama 0 +100.00%
  Secretary General  Haitham Al-Ghais 1 +100.00%
 Support Services Division    
  United Arab Emirates  Ahmed Al Kaabi 0 +100.00%
  Venezuela  Angel Gonzalez Saltron 0 +100.00%

Country DETAILS
Parents  
Websitehttp://www.opec.org/
Established September 14, 1960
Disbanded Still Active
Contributorkal
Last ModifiedBojicat October 04, 2019 01:39pm
Description'Intergovernmental' organization of petroleum producing nations acting in cartel fashion to coordinate, unify and control the price and output of oil worldwide.

The organization is led by an 'OPEC Conference' headed by the oil ministers of member countries, which acts as its supreme authority. Meetings are held twice a year (and in additional extraordinary sessions when necessary) at its headquarters in Vienna. Members vote to select the OPEC Secretary General, its chief executive.

Though OPEC's charter requires that the organization make decisions on the principle of 'one member/one vote', its largest oil producer, Saudi Arabia, has been and continues to be primus inter pares with the greatest sway.

A vote by three-quarters of OPEC's existing members is required to approve the admission of any new member.

Indonesia quit effective January 1, 2017 after the group announced production cuts with non-OPEC producers.

Qatar left OPEC effective January 1, 2019.

Ecuador announced on October 1, 2019 it was leaving the group effective January 1, 2020 [Link]


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Date Category Headline Article Contributor
Jul 11, 2008 04:00pm General OPEC warns against military conflict with Iran  Article kal 
Feb 26, 2008 04:00pm General Greenspan tells Gulf to drop dollar  Article kal 

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