KNOW ABOUT THE Organization of the Petroleum Exporting Countries (OPEC,
The Organization of the Petroleum Exporting Countries (OPEC, is an intergovernmental organisation of 14 nations, founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela), and headquartered since 1965 in Vienna, Austria.
As of September 2018, the then 17 member countries accounted for an estimated 44 percent of global oil production and 81.5 percent of the world's "proven" oil reserves, giving OPEC a major influence on global oil prices that were previously determined by the so called "Seven Sisters” grouping of multinational oil companies.
HEADQUARTERS:- VIENNA, AUSTRIA
MAIN FACTS
As of September 2018, the then 17 member countries accounted for an estimated 44 percent of global oil production and 81.5 percent of the world's "proven" oil reserves, giving OPEC a major influence on global oil prices that were previously determined by the so called "Seven Sisters” grouping of multinational oil companies.
HEADQUARTERS:- VIENNA, AUSTRIA
OFFICIAL LANGUAGE:- ENGLISH
ESTABLISHMENT:- BHAGDAD
SECRETARY GENERAL:- MOHAMMED BARKINDO
CURRENCY:- USD PER BARREL US$/BBL
MAIN FACTS
Headquarters: Vienna, Austria
Founded: September 1960, Baghdad, Iraq
Currency: Indexed as USD per barrel (US$/bbl)
Members: Indonesia, Venezuela, Iran, Saudi Arabia, Iraq, Nigeria, MORE
Founders: Juan Pablo Pérez Alfonzo, Abdullah Tariki
Secretary general: Mohammed Barkindo