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Organization of the Petroleum Exporting Countries

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Organization of the Petroleum Exporting Countries
OPEC logo.png
Basic facts
Location:Vienna, Austria
Type:Intergovernmental organization
Affiliation:Nonpartisan
Top official:Haitham al-Ghais, Secretary General
Founder(s):Iran, Iraq, Kuwait, Saudi Arabia, Venezuela
Year founded:1960
Website:Official website
Promoted policies
Energy Policy

The Organization of the Petroleum Exporting Countries (OPEC) is an international, intergovernmental membership organization that aims to represent the interests of nations with substantial net exports of crude oil. The organization, headquartered in Vienna, Austria, comprises 12 member countries, primarily located in the Middle East and Africa.[1][2]

OPEC's stated goal is "to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry."[3]

Background

OPEC was formed in September 1960 at the Baghdad Conference in Iraq. The organization originally had five members: Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. Originally located in Geneva, Switzerland, the group's headquarters was moved to Vienna, Austria, in September 1965. By 1969, OPEC had 10 member countries, and by 1975, it had 13.[2]

Membership

As of December 2025, the following 12 countries were members of OPEC:[1]

  • Algeria
  • Congo
  • Equatorial Guinea
  • Gabon
  • Iran
  • Iraq
  • Kuwait
  • Libya
  • Nigeria
  • Saudi Arabia
  • United Arab Emirates

Leadership

As of December 2025, the Secretary General of OPEC was Haitham al-Ghais. According to OPEC's website, the secretary general "is the legally authorized representative of the Organization and Chief Executive of the Secretariat. In this capacity, he administers the affairs of the Organization in accordance with the directions of the Board of Governors."[4]

OPEC Secretariat

The headquarters and sole office of OPEC, the OPEC Secretariat, is located in Vienna, Austria.[5]

According to the OPEC website, the Secretariat "responsible for the implementation of all resolutions passed by the Conference and carries out all decisions made by the Board of Governors. It also conducts research, the findings of which constitute key inputs in decision-making."[6]

Work and activities

Legislative and policy work

See also: Gasoline prices

Member states of the Organization of the Petroleum Exporting Countries convene semiannual and special meetings to coordinate policies on oil prices and production. OPEC's primary strategy has been to coordinate oil production targets among its member states in order to influence the world price of oil and increase revenues for oil producers.According to the U.S. Energy Information Administration:[7][8]

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State energy policy
U.S. energy policy
U.S. fracking policy
Energy terms
“

OPEC member countries produce about 40 percent of the world's crude oil. Equally important to global prices, OPEC's oil exports represent about 60 percent of the total petroleum traded internationally. Because of this market share, OPEC's actions can, and do, influence international oil prices. In particular, indications of changes in crude oil production from Saudi Arabia, OPEC's largest producer, frequently affect oil prices. [9]

”
—U.S. Energy Information Administration[8]

Affiliations

OPEC Fund for International Development

In January 1976, the OPEC Fund for International Development (OFID) was established, following agreements at the 1975 Summit of the Sovereigns and Heads of State of the OPEC Member Countries in Algiers, Algeria. OFID functions as an international development agency funded by the OPEC member states. To read more about OFID, click here.[10]

Recent news

The link below is to the most recent stories in a Google news search for the terms 'Organization of the Petroleum Exporting Countries' OPEC. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.

Organization of the Petroleum Exporting Countries - Google News

See also

External links

Footnotes

  1. ↑ 1.0 1.1 OPEC, "Member Countries," accessed December 10, 2025
  2. ↑ 2.0 2.1 OPEC, "Brief History," accessed December 10, 2025
  3. ↑ OPEC, "Our Mission," accessed December 10, 2025
  4. ↑ OPEC, "Secretary General," accessed December 10, 2025
  5. ↑ OPEC, "OPEC Secretariat," accessed December 10, 2025
  6. ↑ OPEC, "Secretariat," accessed December 10, 2025
  7. ↑ Encyclopedia Britannica, "OPEC," accessed June 28, 2016
  8. ↑ 8.0 8.1 U.S. Energy Information Administration, "Supply: OPEC," accessed June 29, 2016
  9. ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
  10. ↑ OPEC, "Who We Are," accessed December 10, 2025
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