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Organization of the Petroleum Exporting Countries

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Organization of the Petroleum Exporting Countries (OPEC,or OPEP in several other languages) is an intergovernmental organization of 14 nations as of May 2017, founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, Venezuela), and headquartered since 1965 in Vienna. As of 2016, the 14 countries accounted for an estimated 44 percent of global oil production and 73 percent of the world's "proven" oil reserves, giving OPEC a major influence on global oil prices that were previously determined by American-dominated multinational oil companies.

Link: OPEC

Official Web-Site

 

OPEC map

 

 

Members, Observers and other participations

Full members Observers Special members
Algeria    
Angola    
Ecuador    
Gabon    
Guinea Equatorial    
Iran    
Iraq    
Kuwait    
Libya    
Nigeria    
Qatar    
Saudi Arabia    
United Arab Emirates    
Venezuela    

 

 

 


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