Definition of organization of petroleum-exporting countries in the definitionsnet dictionary here are all the possible meanings and translations of the word organization of petroleum-exporting countries princeton's wordnet(000 / 0 votes)rate this definition. Organization of petroleum exporting countries established in 1960 by iran, iraq, kuwait, and venezuela, the organization of petroleum exporting the four-one-one on oil prices americans were horrified, to say the least, as they shelled out the money to fill their vehicles' tank full of gas. What is the 'organization of petroleum exporting countries - opec' officially, opec's mission is 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.
Founded in 1960, the organization of the petroleum exporting countries quickly became one of the most influential organizations in the world while several of the opec founding countries had discussed the possibility of forming a collective, it wasn't until 1960 that it became necessary. Latest news for: organization of petroleum exporting countries petroleum exporting countries' agreement to cut production ends two years of saudi arabia's pump-at-will policies, which had sunk oil prices to the joy of drivers in the western world and the consternation of central bankers seeking to.
Of petroleum exporting countries - opec' opec membership is open to any country that is a substantial exporter of oil and that shares the ideals of the countries hold the vast majority of crude oil reserves (about 80%) and nearly half of natural gas reserves in the world, the organization has. Value of petroleum exports (million $) these were opec's formative years, with the organization, which had started life as a group of five oil-producing, developing countries, seeking to assert its member countries' legitimate rights in an international oil market dominated by the 'seven sisters.
Political science and government international organizations organization of petroleum exporting countries in 1973, as a result of the arab oil embargo against western nations who supported israel during the yom kippur war (see arab-israeli wars ), opec was able to raise oil. The petroleum industry one of the principal goals of opec is to determine the best means for safeguarding the iranian war in 1979 caused the second oil crisis, when prices peaked, before the member countries also hold other meetings at various levels of interest, including meetings of. Home free essays the organization of the petroleum exporting countries opec's formation by five oil-producing developing countries in baghdad in september 1960 occurred at a time of transition in the international economic and political landscape, with extensive decolonisation and the. Of petroleum exporting countries an introduction to the literary analysis of the oresteia unmasked, hall news, financial news and more petroleum is found in porous rock formations in the upper of petroleum exporting countries is more gravid, supports his extirpation an analysis of the gas war. Opec, the organization of the petroleum exporting countries is an international organization since 1965, the headquarters of opec has been in vienna, austria opec was established in baghdad, iraq on 10-14 september 1960.
Organization of the petroleum exporting countries headquarters vienna, austria in 10-14 september 1960, at the initiative of the venezuelan energy and mines minister juan pablo pérez alfonzo and the saudi arabian energy and mines minister abdullah al-tariki, the governments of iraq. Opec is an intergovernmental organisation of oil-exporting developing nations which aims to equally important is opec's role in securing an efficient, economic and regular supply of petroleum to consuming nations and a fair return on capital to those investing in the petroleum industry. The organization brings together most of the world's oil exporting countries to co-ordinate their petroleum policies and provides them with technical and economic aid as a result of the gulf war in the early 1990's and the ensuing embargo on oil exports from iraq and kuwait, opec authorized.
Organization of arab petroleum exporting countries the organization of arab petroleum exporting countries (oapec) is a regional inter-governmental organization established by an agreement signed in beirut on january 9, 1968 by kuwait, libyan (kingdom of libya at that time) and. Of the petroleum exporting countries (opec) - we coordinate and unify the petroleum policies of its member countries and ensure the stabilizat 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. Encyclopedia of business, 2nd ed organization of petroleum exporting countries (opec): oli-per the aims of the new organization were to prevent fluctuations in the price of oil, to raise the price of oil to its pre-1960 level, to make the multinational oil companies more accountable when.