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Organization of Arab Petroleum Exporting Countries

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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 Organization of Arab Petroleum Exporting Countries (OAPEC) said in a study that a drop of one dollar in oil price deprives Arab countries of between four and 10 billion dollars in revenues annually.
The November 29 date had been reported by Algeria's APS news agency which said that members of the OPEC cartel would gather on the sidelines of a meeting by the Organization of Arab Petroleum Exporting Countries (OAPEC).
The Organization of Arab Petroleum Exporting Countries (OAPEC) previously published similar data about the large annual increase in the consumption of petroleum products in the entire Arab region, not only in the Gulf.
 
 
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