Organization of the Petroleum Exporting Countries
From Simple English Wikipedia, the free encyclopedia
The Organization of the Petroleum Exporting Countries (OPEC) is an international organization. Since 1965, headquarters of OPEC is in Vienna, Austria.
Contents |
[edit] Members
11 countries are members of OPEC. The names of these countries are:
- Algeria
- Indonesia
- Iran
- Iraq
- Kuwait
- Libya
- Nigeria
- Qatar
- Saudi Arabia
- The United Arab Emirates
- Venezuela.
[edit] Aims
Member countries of the OPEC came together to form this international organization with several aims. Some of the aims are:
- To protect the interest of the member countries.
- To make sure that the price of petroleum products do not change much.
- To make certain a regular supply of petroleum oil to other countries.
- To make sure that member countries get suitable income from sale of oil products.
- To decide policies to follow relating to production and sale of petroleum oil.
However, OPEC has not always been able to achieve all these aims.
[edit] See also
- Organization of Arab Petroleum Exporting Countries
- 1973 oil crisis
