Difference between revisions of "OPEC"
JDWpianist (Talk | contribs) (Undo revision 491330 by NewCrusader (Talk) removed unsourced assertion) |
(common information does not require footnotes) |
||
| Line 1: | Line 1: | ||
The '''Organization of the Petroleum Exporting Countries (OPEC)''' is a permanent, intergovernmental organization, created at the [[Baghdad Conference]] on September 10–14, 1960, by [[Iran]], [[Iraq]], [[Kuwait]], [[Saudi Arabia]] and [[Venezuela]]. The five founding members were later joined by nine other members: [[Qatar]] (1961); [[Indonesia]] (1962); Socialist Peoples Libyan Arab Jamahiriya (1962); [[United Arab Emirates]] (1967); [[Algeria]] (1969); [[Nigeria]] (1971); [[Ecuador]] (1973–1992); [[Gabon]] (1975–1994) and [[Angola]] (2007). OPEC had its headquarters in [[Geneva]], [[Switzerland]], in the first five years of its existence. This was moved to [[Vienna]], [[Austria]], on September 1, 1965. | The '''Organization of the Petroleum Exporting Countries (OPEC)''' is a permanent, intergovernmental organization, created at the [[Baghdad Conference]] on September 10–14, 1960, by [[Iran]], [[Iraq]], [[Kuwait]], [[Saudi Arabia]] and [[Venezuela]]. The five founding members were later joined by nine other members: [[Qatar]] (1961); [[Indonesia]] (1962); Socialist Peoples Libyan Arab Jamahiriya (1962); [[United Arab Emirates]] (1967); [[Algeria]] (1969); [[Nigeria]] (1971); [[Ecuador]] (1973–1992); [[Gabon]] (1975–1994) and [[Angola]] (2007). OPEC had its headquarters in [[Geneva]], [[Switzerland]], in the first five years of its existence. This was moved to [[Vienna]], [[Austria]], on September 1, 1965. | ||
| − | OPEC's objective is to co-ordinate and unify [[petroleum]] policies among member countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry. <ref>http://www.opec.org/aboutus/history/history.htm</ref> | + | OPEC's stated objective is to co-ordinate and unify [[petroleum]] policies among member countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry. <ref>http://www.opec.org/aboutus/history/history.htm</ref> |
| + | OPEC is frequently accused of maintaining artificially inflated oil prices. | ||
==Reference== | ==Reference== | ||
Revision as of 20:08, April 10, 2009
The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The five founding members were later joined by nine other members: Qatar (1961); Indonesia (1962); Socialist Peoples Libyan Arab Jamahiriya (1962); United Arab Emirates (1967); Algeria (1969); Nigeria (1971); Ecuador (1973–1992); Gabon (1975–1994) and Angola (2007). OPEC had its headquarters in Geneva, Switzerland, in the first five years of its existence. This was moved to Vienna, Austria, on September 1, 1965.
OPEC's stated objective is to co-ordinate and unify petroleum policies among member countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry. [1]
OPEC is frequently accused of maintaining artificially inflated oil prices.
