🏢 Company

OPEC

International petroleum organization

📊 Rating

6 news mentions · 👍 0 likes · 👎 0 dislikes

📌 Topics

Geopolitics (6)
Energy Markets (4)
Energy markets (2)
Diplomacy (2)
Finance (1)
Economic Sanctions (1)
Nuclear negotiations (1)
Supply Chain (1)

🏷️ Keywords

OPEC (6) · Oil prices (3) · US-Iran talks (3) · Energy markets (2) · oil prices (2) · sanctions (2) · energy markets (2) · de-dollarization (1) · US dollar (1) · geopolitical risk (1) · international trade (1) · financial sanctions (1) · reserve currency (1) · Middle East conflict (1) · Iran oil (1) · Sanctions (1) · Crude exports (1) · Economic crisis (1) · Nuclear program (1) · Brent crude (1)

📖 Key Information

The Organization of the Petroleum Exporting Countries (OPEC OH-pek) is an organization enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize profit. It was founded on 14 September 1960 in Baghdad by the first five members: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The organization, which currently comprises 12 member countries, accounted for 38 percent of global oil production, according to a 2022 report.