OPEC (Organization of the Petroleum Exporting Countries) – intergovernmental organization founded in 1960 by the first 5 members. Now, OPEC – 13 petroleum-exporting nations Headquartered since 1965 in Vienna, Austria. The 13 countries account for 40% ofglobal oil production and 73% of the world’s “proven” oil reserves. OPEC Meetings a major influence on global oil prices…. (Official website)
OPEC’s stated mission:
“…to coordinate and unify the petroleum policies of its member countries and 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.”
(OPEC Meeting calendar )
| Month | Date | Event |
| March | 5 | 178th (Extraordinary) Meeting of the OPEC Conference |
| March | 6 | 8th OPEC and non-OPEC Ministerial Meeting |
| June | 9 | 179th (Ordinary) Meeting of the OPEC Conference |
| June | 10 | 9th OPEC and non-OPEC Ministerial Meeting |
See other important events in “Live Forex Economic Calendar“
Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar Middle East, Saudi Arabia, United Arab Emirates, Venezuela
Sudan awaiting decision on its OPEC membership application (In October 2015, Sudan formally submitted an application to join OPEC)
OPEC countries Production – comparison table:
OPEC members ranking
“Organization has received a letter from the State of Qatar giving notice of its intention to withdraw from its Membership of OPEC, pursuant to Article 8 of the OPEC Statute, with effect from 1 January 2019” (source)
(11 votes, average: 4.55 out of 5)
Loading...
Add your review