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Organization of Arab Petroleum Exporting Countries
(redirected from OAPEC)

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Organization of Arab Petroleum Exporting Countries
An international organization founded in 1968 to coordinate oil policy among Arab countries. Originally intended for conservative countries like Kuwait and Saudi Arabia, it initially excluded left-wing Arab governments from membership. It is not a cartel like OPEC (which has global membership), but it aims for economic cooperation and regional integration.


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The board will also review the activities of the OAPEC secretariat over the last period, the Arab cartel said in a news release.
The real income, OAPEC explained, "was calculated on the basis of the dollar's purchasing power, the GDP deflator in industrial countries and inflation rates worldwide".
In addition to OPEC and OAPEC, IPTC is endorsed by the International Association of Drilling Contractors, International Gas Union, Qatar Geological Society, Qatar Society of Engineers, and the International Association of Oil & Gas Producers.
 
 
 
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