OPEC

(redirected from OPEC Secretary-General)
Also found in: Dictionary, Thesaurus, Encyclopedia, Wikipedia.

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.

OPEC

see ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES.

OPEC

see ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES.
References in periodicals archive ?
Lukman was elected as OPEC secretary-general on Nov.
OPEC Secretary-General Abdullah al-Badri, who greeted the OPEC president on his arrival in Vienna, said it was too soon to say whether OPEC might consider changing its output ceiling when it next meets in September.
If we have about 80 per cent (compliance), then we still need about 800,000 bpd to cut," Opec secretary-general Abdullah Al-Badri said.
Opec secretary-general Abdullah Al Badri, earlier called for tighter regulation of oil markets to reduce the amount of speculative investment, but did not give more details of how that could be achieved.
Before Ali Rodriguez of Venezuela became OPEC secretary-general in January 2001, Ghanem used to head the secretariat on interim basis when Rilwanu Lukman was absent.
Al-Omair noted that his is in contact with the OPEC Secretary-General Abdullah Salem Al-Badri to keep abreast with the developments and the outlook of the oil market, noting that the OPEC member states have a common interest in stopping or reversing the downward trend of the prices.
Summary: TEHRAN (FNA)- Iranian Oil Minister Rostam Qassemi said Tehran is determined to get the post of OPEC secretary-general.
OPEC Secretary-General Abdullah al-Badri said the producers would next meet on October 14 in Vienna, pushing back slightly from the usual September slot.
A slowing global economy would not impact demand in the short-term or lead to a price collapse, Opec Secretary-General Abdullah Al Badri said.
During a visit to Iran OPEC Secretary-General Abdullah al-Badri told that "oil supply to the market is enough and high oil prices are not due to a shortage of crude but rather it is because of the decrease in the dollar`s value, shortage of refinery capacity and some political tensions in the world".
Rilwanu Lukman: An ex-oil minister, diplomat and former OPEC secretary-general, Lukman now is the most powerful man in the petroleum sector next to President Yar'Adua.
He has a rapport with OPEC Secretary-General Alvaro Silva, who does not speak English but enjoys his Spanish with Yusufov.