What is OPEC What does OPEC organization mean?

OPEC.

organization of the petroleum exporting countries,opec

Translated as OPEC. It is an international professional organization formed by some oil-producing countries in Asia, Africa and Latin America to resist the control of international oil monopoly capital, defend oil resources, and safeguard national interests. It was established in September 1960 and its main organs are the General Assembly, the Council and the Secretariat.

The headquarters are located in Vienna. As of 1988, there were 13 member states. Five countries, including Iraq, Iran, Saudi Arabia, Kuwait and Venezuela, are the founding countries.

The other members are: Qatar, Algeria, Ecuador, Gabon, Indonesia, Libya, Nigeria and the United Arab Emirates. The property rights, extraction, refining and operation of oil in these countries have long been manipulated by foreign monopoly capital.

In the 70s, in order to protect the oil revenues of member countries, the organization repeatedly forced Western oil companies to sign agreements to raise oil prices, and unilaterally made decisions to raise oil prices, so as to gain the dominance of regulating the world oil market, which once plunged Western countries into an oil crisis and played a positive role in promoting the reform of the old international economic order. After entering the 80s, due to the sharp decline in the demand of the world oil market, the organization has successively adopted measures such as "reducing production and guaranteeing prices" and "reducing prices and guaranteeing production", and was forced to continuously reduce oil ** and limit the output of member countries, so that the organization gradually lost the right to regulate oil **. This trend cannot be reversed in the short term.

In addition to the 13 OPECs mentioned above, there are also regional international oil organizations. For example, the Latin American Association of Petroleum Mutual Aid was established in October 1965 and the Organization of Arab Petroleum Exporting Countries (OPEC) was established in January 1968. During the Middle East war in October 1973, the latter member states used oil as a tool to oppose Israel and its supporters by raising prices, reducing production, embargoing, increasing shares, and nationalizing, which had a major impact on international politics.

It also established the International Development Association in 1976 to provide economic and financial assistance to other developing countries, giving a strong impetus to South-South cooperation.

In September 1960, representatives of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela met in Baghdad and decided to unite against Western oil companies and maintain oil revenues, and on the 14th, the five countries announced the establishment of the Organization of Petroleum Exporting Countries (OPEC), or "OPEC". With the growth of its membership, OPEC has grown into an international oil organization with some of the major oil producers in Asia, Africa and Latin America. OPEC is headquartered in Vienna.

Someone was walking on the road eating fish, and suddenly a fish bone stuck in his throat, and he said, "Ou! Bah! ”

I spit it out, and then I felt that it wasn't clean yet, "Gram!" He coughed again. It's OPEC.

The Organization of the Petroleum Exporting Countries (OPEC) has 13 member countries, namely:

Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates, Venezuela.

Organization of the Petroleum Exporting Countries.

OPECMeaning:OPEC.

The Organization of the Petroleum Exporting Countries (OPEC), or OPEC, is an effort by oil-producing countries in Asia, Africa and Latin America to oppose Western capitalism.

It was established in September 1960 by coordinating the oil production policies of the member countries. In order to maintain the stability of the international oil market and ensure the income of oil-producing countries, the highest decision-making body is the General Assembly of the Member States, which is composed of member delegations and is responsible for formulating relevant policies.

History. The headquarters of the Organization of the Petroleum Exporting Countries (OPEC) has been located in Geneva, Switzerland, since September 1960.

Moved to Austria.

The capital is Vienna.

The Organization of the Petroleum Exporting Countries (OPEC) is the oldest and most influential raw material producer and exporting organization in the Third World. Oil was the main source of energy in the post-war world. In the early post-war period, the exploration, exploitation and sale of world oil was almost entirely controlled by Western oil monopolies.

The consequence of this monopoly control is the developed countries of the West.

Excess profits were obtained, while the economic interests of the major oil-producing countries of the Third World were harmed. In order to compete with the major oil companies (mostly American, British, and German), in order to reduce oil prices and the burden on producers. Initially, it was organized as an unofficial bargaining group to sell to third world countries at a reduced price.

This size limits its ability to compete for a greater share of interests and a higher level of production control with Western oil companies. However, in the early 70s of the 20th century, it began to show its effectiveness.

OPEC+ means: the cooperation alliance of the 13 OPEC member countries plus other major oil producers led by Russia (on July 2, 2019, OPEC and non-OPEC oil producers signed the "Cooperation Charter", and the "OPEC+" cooperation mechanism has been made long-term).

The Organization of the Petroleum Exporting Countries (OPEC) is abbreviated as "OPEC". An international organization established in September 1960 by the oil-producing countries of Asia, Africa and Latin America to coordinate the oil policies of member states and oppose the exploitation and control of Western oil monopoly capital. The 14 Member States are:

Iraq, Iran, Kuwait, Saudi Arabia.

Venezuela, Algeria, Ecuador, Gabon, Indonesia.

Libya, Nigeria, Qatar, United Arab Emirates.

Tunisia. It is headquartered in Vienna, Austria.

OPEC+Influence

On July 2, 2019, OPEC and non-OPEC countries officially realized the long-term "OPEC+" cooperation mechanism.

According to statistics, the "OPEC+" mechanism controls more than 80% of the world's oil reserves and 60% of oil production, and has also regained control of the international oil market.

However, although there is a big gap between the United States and the "OPEC+" countries in terms of oil exports, the United States is the only superpower.

With its strong military, political and economic influence, it still has a lot of control over the international oil market.

In addition, the OPEC+ mechanism is relatively weak in binding force on member countries. There are also significant differences in energy policies between member states, each with a national interest.

Priority, which means that the OPEC+ mechanism may not be able to become a long-term cooperation mechanism.

OPEC isOPEC. AbbreviationIt is an international organization established in September 1960 by the oil-producing countries of Asia, Africa and Latin America to coordinate the oil policies of member countries and oppose the exploitation and control of Western oil monopoly capital.

OPEC's purpose is to coordinate and unify the oil policies of member countries, maintain the stability of the international oil market, and ensure that oil-producing countries obtain stable income.

OPEC Organizational Regulations stipulate:

Any country which is in fundamental interest consistent with the Member States and which can indeed achieve a net export of ** may become a full member of the Organization after being admitted by a three-fourths majority of the member States with full powers and unanimously by all the founding members.

The Constitution's Statute further distinguishes between three categories of Member States: Founding Member States, which were present in Iraq in September 1960.

The capital is Baghdad.

the holding of the first meeting of OPEC and the signing of the original agreement on the establishment of OPEC; Plenipotentiary members, including founding members, and all countries whose applications for membership in OPEC have been accepted by the General Assembly; Associate Member State - a State which has not been granted the status of a full member State, but which is admitted to the Assembly in exceptional circumstances as may be prescribed by the Assembly.

OPEC isOrganization of the Petroleum Exporting Countries

An international organization established in September 1960 by the oil-producing countries of Asia, Africa and Latin America to coordinate the policies of member countries and oppose the exploitation and control of Western oil monopoly capital. Its purpose is to coordinate and unify the oil policies of member countries, maintain the stability of the international oil market, and ensure that oil-producing countries receive stable income.

The highest authority is the Assemblies, which are composed of the delegations of the Member States, which are responsible for formulating the general policy, the executive body is the Council, and the day-to-day work is handled by the Secretariat. An economic committee has also been established to assist in the maintenance of oil stability. Since its establishment, the organization has persistently fought against the Western oil monopoly capital, and has made significant progress in raising the oil industry and nationalizing the oil industry.

OPEC members

OPEC currently has 13 member countries: Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iran, and Iraq.

Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates.

Venezuela. It is headquartered in Vienna, Austria.

OPEC members analyze the current situation and market trends** and make clear guesses about a number of fundamental factors, such as the rate of economic growth and the state of oil supply and demand, and then negotiate on how to adjust their oil policies accordingly.

OPEC is the Organization of the Petroleum Exporting Countries (OPEC) to do so.

In September 1960, representatives of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela met in Baghdad and decided to unite against the Western Petroleum Corporation and maintain oil revenues, and on the 14th, the five countries announced the establishment of the Organization of Petroleum Exporting Countries (OPEC), referred to as "OPEC".

OPEC currently has 13 member countries, including Saudi Arabia, Iraq, Iran, Kuwait, the United Arab Emirates, Libya, Equatorial Guinea, Nigeria, Algeria, Angola, Venezuela, Gabon and Congo (Brazzaville).

OPEC's enormous influence:

Representatives of OPEC member countries (mainly heads of delegations) coordinate and unify their oil policies at the OPEC conference to promote the stability and prosperity of the oil market. The OPEC Secretariat is responsible for the day-to-day affairs of the organization, receives instructions from the Council and is under the direct authority of the Secretary-General.

OPEC's Economic Committee, Ministerial Supervision Committee, and other executive agencies perform a number of functions such as consultation, consultation, and coordination.

OPEC's decision has a considerable impact on international oil prices. In the 1973 oil crisis, OPEC refused to ship oil as a way to support Israel against Western countries in Egypt and Syria. This caused oil prices to rise fourfold for five months, from 17 October 1973 to 18 March 1974.

The above content reference:Encyclopedia - Organization of the Petroleum Exporting Countries.

The Organization of the Petroleum Exporting Countries (OPEC) has 13 member countries: Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates, and Venezuela. It is headquartered in Vienna, Austria.

Qatar withdrew from OPEC in January 2019.

The OPEC Regulation stipulates that "any country whose fundamental interests are consistent with the Member States and Tongheng and which can indeed achieve ** net export may become a full member of the Organization after being admitted by a two-thirds majority of the members with full powers and unanimously by all the founding members." ”

The role of OPEC:

OPEC member countries analyze the current situation and market trends**, identify basic factors such as economic growth rate and oil supply and demand, and then negotiate on the adjustment of their oil policies.

For example, at previous conferences, OPEC members have decided to increase or decrease the Organization's overall oil production in order to maintain the stability of oil** and provide stable short-, medium- and long-term oil** to consuming countries.

In recent years, the OPEC organization has repeatedly caused the oil to soar to counter the United States and other developed countries in the West, which has played a non-negligible role in balancing world power. <>

China also exports oil, such as North Korea, but China is not a net oil exporter, so it is not eligible to join.

What qualifications do I have to become an OPEC member? Who are the current OPEC members?

A: OPEC regulations stipulate that "any country that is in fundamental interest with the member states and can indeed achieve ** net export may become a full member of the Organization after being admitted by a two-thirds majority of the plenipotentiary members and unanimously accepted by all the founding members." ”

The Constitution's Statute further distinguishes between three categories of Member States: Founding Member States, which were present in Iraq in September 1960.

the first meeting of OPEC in the capital Baghdad and the signing of the original agreement on the establishment of OPEC; Plenipotentiary members, including founding members, and all countries whose applications for membership in OPEC have been accepted by the General Assembly; Associate member States ——— are admitted to the General Assembly in exceptional circumstances under the special circumstances prescribed by the General Assembly, although they have not been granted full membership status. Currently, OPEC has 11 member countries (the date of joining OPEC is in parentheses): Algeria.

1969), Indonesia.

1962), Iran (1960), Iraq (1960), Kuwait (1960), Libya (1962), Nigeria (1971), Qatar.

1961), Sand Digging Arabia.

1960), United Arab Emirates.

1967) and Venezuela (1960).