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Definition: OPEC

OPEC stands for the Organization of Petroleum Exporting Countries. Represented by a group of countries, (OPEC) centered around middle east and founded in and around 1960 with a purpose to collaborate in the management of regulating production levels of oil to meet world demand.

OPEC also regulate the exportation of crude oil from member states, to the rest of the world and because of their ability to adjust production levels, OPEC possess a great deal of influence on the price of oil and associated political issues.

MARKET WATCH: Energy prices decline despite inventory reductions
Oil & Gas Journal
No update of the average price for OPEC's basket of 12 reference crudes was available Sept. 10 because the Secretariat in Vienna was closed for Eid ...
Brent crude oil futures for front-month 2010 delivery: US$77.78/bbl, up 1.0 ...Industrial Fuels and Power (blog)
MARKET WATCH: Crude price rebounds; gas price continues to slipPennEnergy- Energy News (press release)
Brent crude oil futures for front-month 2010 delivery: US$77.23/bbl, down 0.2 ...Industrial Fuels and Power (blog)

all 13 news articles »

09/10/2010 07:27 PM

WEEKAHEAD-The view from Reuters EMEA news editors
Reuters
OPEC on September 14 marks its 50th anniversary and has causes to celebrate, even if it would prefer the world economy and, with it, world oil demand to be ...

and more »

09/10/2010 04:31 PM

The Business Insider

Is There Anyone Left Excited About Doing Business In China?
The Business Insider
In his CNBC appearance this morning, Donald Trump identified two economic villains: OPEC and China. OPEC is an old "enemy" so we can ignore that for now. ...

09/10/2010 01:14 PM

A golden anniversary for OPEC
Marketplace (blog)
Oil cartel OPEC is celebrating its 50th anniversary. On September 10, 1960, a conference kicked off in Baghdad which led to its formation. ...

09/10/2010 01:13 PM

Reuters India

Is Opec likely to remain a big player in the world economy?
BBC News
50 years ago the oil-rich nations of the world met in Baghdad for a conference which led to the creation of Opec. In the 1970s the organisation seemed like ...
OPEC cartel faced with future risks in its 50th yearSify
TIMELINE-50 years of OPECReuters Africa
OPEC Warns of Weakening Oil DemandWall Street Journal
RIA Novosti -Bloomberg -The Voice of Russia
all 153 news articles »

09/10/2010 12:57 PM

Iraq 'a fly in the Opec ointment'
One News Page
NewsGluttony Iraq 'a fly in the Opec ointment': Economist Dr Leo Drollas: OPEC "will have to cut back and make... http://bbc.in/dt44nO #BBC #News #Money 6 ...

09/10/2010 11:07 AM

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