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.

Contents 1 Members 2 Aims 3 See also 4 External links

[edit] Members

11 countries are members of OPEC. The names of these countries are:

1. Algeria
2. Indonesia
3. Iran
4. Iraq
5. Kuwait
6. Libya
7. Nigeria
8. Qatar
9. Saudi Arabia
10. The United Arab Emirates
11. 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

• OPEC official site

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