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OPEC |
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OPEC Organization of Petroleum Exporting Countries An international organization founded in 1960 whose members collaborate on the production and exportation of oil. Members meet several times a year to discuss oil prices and ways to bring them to an optimal level for members. OPEC has a great influence over the world's oil supply as the organization sets production quotas for member nations. Cutting production tends to result in higher oil prices while raising production tends to lower them. Many of OPEC's member nations are heavily reliant on oil to fund their economies and, as a result, tend to prefer high prices. On the other hand, other members (though the groups overlap) suffer high inflation rates when oil prices are too high. As a result, there is often tension between so-called "price hawks" and other members. See also: Brent blend. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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Association of Coffee Producing Countries Cartel Economic Shock Organization of Arab Petroleum Exporting Countries Organization of Petroleum Exporting Countries Petrodollars Quota stagflation | Now the Gulf kingdom, previously a vigilant enforcer of the cuts by the OPEC cartel that checked the sharp fall in oil prices last year, appears to be expanding its own oil flow again in exasperation. My feeling" is there will be "no more cuts" to production when ministers of the OPEC cartel meet on Wednesday, Sheikh Ahmad Abdullah al-Sabah said as he arrived in Vienna ahead of the talks. World oil prices tumbled below 45 dollars a barrel in Asian trade Monday after the OPEC cartel decided during a weekend meeting not to cut output. |
OPEC Cartel |
OPDIN OPDIP OPDIV OPDL OPDM OPDO OPDOC OPDP OPDQ OPDR OPDRA OPDS OPDS Utility Boat OPDT OPDU OPDV OPDW OPDX OPE OPE OPE OPEA OPEAA OPEAL OPEB OPEC OPEC OPEC OPEC OPEC Cartel OPEC Fund for International DevelopmentOPEC Secretary-General OPEC Secretary-General OPEC Secretary-General OPEC Secretary-Generals OPEC Secretary-Generals OPEC Secretary-Generals OPEC World Energy Model OPECA OPECNA OPECST OPECT Oped Oped Oped Oped Oped OPEDC OpEdNews OPEDS OPEE OPEER OPEESA OPEF OPEFB OPEFE OPEFM OPEG OPEGA Opegraphaceae | |||||||
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