Organization of the Petroleum Exporting Countries
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The Organization of the Petroleum Exporting Countries (OPEC) is an international organization. Since 1965, headquarters of OPEC is in Vienna, Austria.
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[edit] Members
11 countries are members of OPEC. The names of these countries are:
- Algeria
- Indonesia
- Iran
- Iraq
- Kuwait
- Libya
- Nigeria
- Qatar
- Saudi Arabia
- The United Arab Emirates
- Venezuela.
[edit] Aims
Member countries of the OPEC came together to form this international organization with several aims. Some of the aims are:
- To protect the interest of the member countries.
- To make sure that the price of petroleum products do not change much.
- To make certain a regular supply of petroleum oil to other countries.
- To make sure that member countries get suitable income from sale of oil products.
- To decide policies to follow relating to production and sale of petroleum oil.
However, OPEC has not always been able to achieve all these aims.
[edit] See also
- Organization of Arab Petroleum Exporting Countries
- 1973 oil crisis
[edit] External links
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