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OPEC

OPEC

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About OPEC

Wikipedia

The Organization of Petroleum Exporting Countries (OPEC) is a cartel of twelve countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. The organization has maintained its headquarters in Vienna since 1965, and hosts regular meetings among the oil ministers... Full Article

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OPEC Secretary General Adullah al-Badri talks with journalists after an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers on Wednesday agreed their first new production limit in three years in a deal that settles a 6-month-old argument over output levels in Saudi Arabia's...
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  1. OPEC Secretary General Adullah al-Badri talks with journalists after an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers on Wednesday agreed their first new production limit in three years in a deal that settles a 6-month-old argument over output levels in Saudi Arabia's... Reuters Pictures logo Reuters Pictures 2 months ago

    OPEC Secretary General Adullah al-Badri talks with journalists after an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers on Wednesday agreed their first new production limit in three years in a deal that settles a 6-month-old argument over output levels in Saudi Arabia's...

    View Photo »
  2. An OPEC official (2nd row C) and plain clothes police urge journalists to clear the plenary hall during an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit for the first time in three years and... Reuters Pictures logo Reuters Pictures 2 months ago

    An OPEC official (2nd row C) and plain clothes police urge journalists to clear the plenary hall during an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit for the first time in three years and...

    View Photo »
  3. OPEC Secretary General Adullah al-Badri (C) looks over journalists as Iranian Oil Minister and OPEC president Rostam Qasemi (L) talks during an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit... Reuters Pictures logo Reuters Pictures 2 months ago

    OPEC Secretary General Adullah al-Badri (C) looks over journalists as Iranian Oil Minister and OPEC president Rostam Qasemi (L) talks during an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit...

    View Photo »
  4. Kuwaiti Oil Minister Mohammad al-Busairi arrives for an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit for the first time in three years and settle an argument over output levels in Saudi... Reuters Pictures logo Reuters Pictures 2 months ago

    Kuwaiti Oil Minister Mohammad al-Busairi arrives for an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit for the first time in three years and settle an argument over output levels in Saudi...

    View Photo »
  5. Secretary General of OPEC Abdalla Salem El Badri of Libya speaks to the media at the end of the meeting of the Organization of the Petroleum Exporting countries, OPEC, at their headquarters in Vienna, Austria, Wednesday, Dec. 14, 2011. AP Photo logo AP Photo 2 months ago

    Secretary General of OPEC Abdalla Salem El Badri of Libya speaks to the media at the end of the meeting of the Organization of the Petroleum Exporting countries, OPEC, at their headquarters in Vienna, Austria, Wednesday, Dec. 14, 2011.

    View Photo »
  6. OPEC Secretary-General Abdalla Salem el-Badri (R) poses with Maria van der Hoeven, Executive Director of the International Energy Agency (IEA), at the IEA conference in Riyadh November 20, 2011. The global oil market looks balanced, Saudi Oil Minister Ali al-Naimi indicated on Sunday,... Reuters Pictures logo Reuters Pictures 2 months ago

    OPEC Secretary-General Abdalla Salem el-Badri (R) poses with Maria van der Hoeven, Executive Director of the International Energy Agency (IEA), at the IEA conference in Riyadh November 20, 2011. The global oil market looks balanced, Saudi Oil Minister Ali al-Naimi indicated on Sunday,...

    View Photo »
  7. Iranian Oil Minister Rostam Qassemi, smiles to the media at the start of his press conference in Tehran, Iran, Saturday, Feb. 4, 2012. Iran's oil minister repeated claims that an EU oil embargo will not cripple Iran's economy, claiming Saturday that the country already has identified... AP Photo logo AP Photo 1 week ago

    Iranian Oil Minister Rostam Qassemi, smiles to the media at the start of his press conference in Tehran, Iran, Saturday, Feb. 4, 2012. Iran's oil minister repeated claims that an EU oil embargo will not cripple Iran's economy, claiming Saturday that the country already has identified...

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  8. Iran's Oil Minister Rostam Qasemi speaks during a press conference in Tehran on February 4, 2012. Qasemi said that Iran has asked the members of the oil cartel OPEC not to increase production to compensate for a European Union oil embargo against Tehran. Getty Images logo Getty Images 1 week ago

    Iran's Oil Minister Rostam Qasemi speaks during a press conference in Tehran on February 4, 2012. Qasemi said that Iran has asked the members of the oil cartel OPEC not to increase production to compensate for a European Union oil embargo against Tehran.

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  9. Organization of the Petroleum Exporting Countries (OPEC) Secretary General Adullah al-Badri listens during the presentation of OPEC's 2011 World Oil Outlook in Vienna, November 8, 2011. OPEC is investing in new supplies to meet rising consumption, even as it sees the risk to the demand... Reuters Pictures logo Reuters Pictures 3 months ago

    Organization of the Petroleum Exporting Countries (OPEC) Secretary General Adullah al-Badri listens during the presentation of OPEC's 2011 World Oil Outlook in Vienna, November 8, 2011. OPEC is investing in new supplies to meet rising consumption, even as it sees the risk to the demand...

    View Photo »
  10. Workers wearing anti-OPEC shirts listen during the U.S. State Department's open hearing for the proposed Keystone XL Pipeline at the Port Arthur Civic Center in Port Arthur, Texas, Monday, Sept. 26, 2011. If constructed, the planned pipeline would connect TransCanada tar sands to... AP Photo logo AP Photo 4 months ago

    Workers wearing anti-OPEC shirts listen during the U.S. State Department's open hearing for the proposed Keystone XL Pipeline at the Port Arthur Civic Center in Port Arthur, Texas, Monday, Sept. 26, 2011. If constructed, the planned pipeline would connect TransCanada tar sands to...

    View Photo »
  11. Iraqi Minister of Oil Abdul-Kareem Luaibi Bahedh attends the opening session of the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) on December 14, 2011 in Vienna. OPEC began a ministerial meeting here on Wednesday without yet reaching a decision on... Getty Images logo Getty Images 2 months ago

    Iraqi Minister of Oil Abdul-Kareem Luaibi Bahedh attends the opening session of the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) on December 14, 2011 in Vienna. OPEC began a ministerial meeting here on Wednesday without yet reaching a decision on...

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  12. Quatari Minister of Energy and Industry Mohammed Biin Saleh Al-Sada attends the opening session of the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) on December 14, 2011 in Vienna. OPEC began a ministerial meeting here on Wednesday without yet reaching a... Getty Images logo Getty Images 2 months ago

    Quatari Minister of Energy and Industry Mohammed Biin Saleh Al-Sada attends the opening session of the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) on December 14, 2011 in Vienna. OPEC began a ministerial meeting here on Wednesday without yet reaching a...

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  13. A view of the plenary hall during the opening session of an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit for the first time in three years and settle an argument over output levels in Saudi... Reuters Pictures logo Reuters Pictures 2 months ago

    A view of the plenary hall during the opening session of an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit for the first time in three years and settle an argument over output levels in Saudi...

    View Photo »
  14. Nigeria's Minister Diezani Alison-Madueke arrives for the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) on December 14, 2011 in Vienna. OPEC began a ministerial meeting here on Wednesday without yet reaching a decision on whether to change oil production... Getty Images logo Getty Images 2 months ago

    Nigeria's Minister Diezani Alison-Madueke arrives for the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) on December 14, 2011 in Vienna. OPEC began a ministerial meeting here on Wednesday without yet reaching a decision on whether to change oil production...

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  15. Quatari Minister of Energy and Industry Mohammed Bin Saleh Al-Sada arrives for the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) on December 14, 2011 in Vienna. OPEC began a ministerial meeting here on Wednesday without yet reaching a decision on whether... Getty Images logo Getty Images 2 months ago

    Quatari Minister of Energy and Industry Mohammed Bin Saleh Al-Sada arrives for the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) on December 14, 2011 in Vienna. OPEC began a ministerial meeting here on Wednesday without yet reaching a decision on whether...

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  16. Ecuador Minister of Non-Renewable Natural Resources Wilson Pastor-Morris arrives for the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) on December 14, 2011 in Vienna. OPEC began a ministerial meeting here on Wednesday without yet reaching a decision on... Getty Images logo Getty Images 2 months ago

    Ecuador Minister of Non-Renewable Natural Resources Wilson Pastor-Morris arrives for the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) on December 14, 2011 in Vienna. OPEC began a ministerial meeting here on Wednesday without yet reaching a decision on...

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  17. United Arab Emirates' Oil Minister Mohamed bin Dhaen al-Hamli (R) talks to journalists during an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit for the first time in three years and settle an... Reuters Pictures logo Reuters Pictures 2 months ago

    United Arab Emirates' Oil Minister Mohamed bin Dhaen al-Hamli (R) talks to journalists during an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit for the first time in three years and settle an...

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  18. Libyan Oil Minister Abdulrahman Ben Yazza talks to journalists during an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit for the first time in three years and settle an argument over output... Reuters Pictures logo Reuters Pictures 2 months ago

    Libyan Oil Minister Abdulrahman Ben Yazza talks to journalists during an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers gathered on Wednesday for a meeting that is expected to reset a production limit for the first time in three years and settle an argument over output...

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  19. Saudi Arabian Oil Minister Ali al-Naimi (C) talks to journalist during an OPEC meeting in Vienna, December 14, 2011. Saudi Arabia responded to demand for its oil rather than the pace of fellow OPEC member Libya's rising oil exports, al-Naimi said. Reuters Pictures logo Reuters Pictures 2 months ago

    Saudi Arabian Oil Minister Ali al-Naimi (C) talks to journalist during an OPEC meeting in Vienna, December 14, 2011. Saudi Arabia responded to demand for its oil rather than the pace of fellow OPEC member Libya's rising oil exports, al-Naimi said.

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  20. Iranian Oil Minister Rostam Qasemi talks to journalist during an OPEC meeting in Vienna, December 14, 2011. Qasemi told Reuters that he expected OPEC to agree to an oil output limit of around 30 million barrels per day at its Wednesday meeting. Reuters Pictures logo Reuters Pictures 2 months ago

    Iranian Oil Minister Rostam Qasemi talks to journalist during an OPEC meeting in Vienna, December 14, 2011. Qasemi told Reuters that he expected OPEC to agree to an oil output limit of around 30 million barrels per day at its Wednesday meeting.

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  21. Saudi Arabia's Minister of Petroleum and Mineral Resources Ali Ibrahim Naimi gestures as he speaks to journalists prior to the start of the meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria, Wednesday, Dec. 14, 2011. The... AP Photo logo AP Photo 2 months ago

    Saudi Arabia's Minister of Petroleum and Mineral Resources Ali Ibrahim Naimi gestures as he speaks to journalists prior to the start of the meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria, Wednesday, Dec. 14, 2011. The...

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  22. Iraqi Minister of Oil Abdul-Kareem Luaibi Bahedh arrives for a meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria, Wednesday, Dec. 14, 2011. The Organization of Petroleum Exporting Countries meets Wednesday in Vienna amid a... AP Photo logo AP Photo 2 months ago

    Iraqi Minister of Oil Abdul-Kareem Luaibi Bahedh arrives for a meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria, Wednesday, Dec. 14, 2011. The Organization of Petroleum Exporting Countries meets Wednesday in Vienna amid a...

    View Photo »
  23. General view of a meeting of oil ministers of the Organization of the Petroleum Exporting countries, OPEC, at their headquarters in Vienna, Austria, Wednesday, Dec. 14, 2011. AP Photo logo AP Photo 2 months ago

    General view of a meeting of oil ministers of the Organization of the Petroleum Exporting countries, OPEC, at their headquarters in Vienna, Austria, Wednesday, Dec. 14, 2011.

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  24. A security asks the media to leave the conference room prior to the start of a meeting of oil ministers of the Organization of the Petroleum Exporting countries, OPEC, at their headquarters in Vienna, Austria, Wednesday, Dec. 14, 2011. AP Photo logo AP Photo 2 months ago

    A security asks the media to leave the conference room prior to the start of a meeting of oil ministers of the Organization of the Petroleum Exporting countries, OPEC, at their headquarters in Vienna, Austria, Wednesday, Dec. 14, 2011.

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  25. Iran's Minister of Petroleum and President of the Conference Rostam Ghasemi, left, gestures as he sits next to Secretary General of OPEC Abdalla Salem El Badri of Libya prior to the start of the meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters... AP Photo logo AP Photo 2 months ago

    Iran's Minister of Petroleum and President of the Conference Rostam Ghasemi, left, gestures as he sits next to Secretary General of OPEC Abdalla Salem El Badri of Libya prior to the start of the meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters...

    View Photo »
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Reuters Pictures logo Reuters Pictures 2 months ago

OPEC Secretary General Adullah al-Badri talks with journalists after an OPEC meeting in Vienna, December 14, 2011. OPEC oil producers on Wednesday agreed their first new production limit in three years in a deal that settles a 6-month-old argument over output levels in Saudi Arabia's...

View Photo »
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Related Topics

  1. European Union European Union
  2. Royal Dutch Shell Royal Dutch Shell
  3. Mitsubishi Mitsubishi
  4. Ali al-Naimi Ali al-Naimi
  5. Muammar al-Qaddafi Muammar al-Qaddafi
  6. International Energy Agency International Energy Agency

Timeline of Coverage

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Related Quotes

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  1. If Arab neighbours compensate for a looming EU ban on Iranian imports, 'we would not consider these actions to be friendly,' Iran's representative to OPEC, Mohammad Ali Khatibi, was quoted as saying by the Sharq newspaper on Sunday.
    SOURCE: American Thinker 4 weeks ago
  2. Saudi Arabia's oil minister says the OPEC powerhouse's readiness to boost oil output is not linked to sanctions that could affect Iran's oil exports. Ali Al-Naimi was quoted by the Saudi daily Al-Ektisadiya on Sunday as saying the oil-rich kingdom was ready to use its spare production capacity to fill a...
    SOURCE: American Thinker 4 weeks ago
  3. Yesterday OPEC warned that the eurozone debt crisis could have a negative impact on oil demand in emerging economies, but those fears have receded because of this Chinese data
    SOURCE: Business Standard 4 weeks ago
  4. The increase in production last month was all about Libya, with only minor changes from other OPEC members ... Libyan output is still only halfway back to where it was before last year's uprising, but total OPEC supply is already 830,000 b/d greater than the group's new output production ceiling, which ...
    SOURCE: AME Info 4 weeks ago
  5. The increase in production last month was all about Libya, with only minor changes from other OPEC members ... Libyan output is still only halfway back to where it was before last year's uprising, but total OPEC supply is already 830,000 b/d greater than the group's new output production ceiling, which ...
    SOURCE: AME Info 4 weeks ago
  6. There has been no disruption in Iran's crude exports through the Persian Gulf ... We have not stored oil in the Gulf because of sanctions as some foreign media reported ... We do not have even one drop of oil (stored) in the Persian Gulf ... Iran's oil exports are taking place based on the OPEC's polici...
    SOURCE: Silicon India 1 month ago
  7. OPEC countries have stronger incentives to defend higher oil prices, i.e. any drop in the oil price could mean lower OPEC production in order to try to secure higher oil prices.
    SOURCE: Wall Street Pit 2 months ago
  8. The Volt has all the snappy performance I like in a car and incredible mileage ... It’s so quiet the only sound I could hear was the sound of OPEC losing money.
    SOURCE: InsideHalton.com 2 months ago
  9. The significant supply increases and slowing demand could all coalesce around the second quarter ... Given this backdrop, if OPEC were to leave production at current levels, inventories would balloon through the first half.
    SOURCE: Atlanta Journal Constitution Vendor 2 months ago
  10. OPEC is on standby until they get a bit more clarity on what’s happening in Libya and with Libyan exports
    SOURCE: Calgary Herald 2 months ago
  11. The fact is that OPEC’s price hikes and the ‘improved market power’ of coal and uranium both reflected a new reality based on emerging scarcity of oil and natural gas.
    SOURCE: MasterResource 2 months ago
  12. The price of oil is at the level that OPEC has defended between $80 and $100. This is beneficial for the global economy.
    SOURCE: Bloomberg.com 2 months ago
  13. This is not problem ... It can be substituted by OPEC and others.
    SOURCE: Reuters.co.uk 2 months ago
  14. There is a legitimate guy on long island. He’s going to come over and give me a price and I’m going to report back to you. Because I don’t want to be dependent on OPEC and I don’t think anybody does
    SOURCE: Think Progress 2 months ago
  15. So far there is no impact on demand for oil. If there is going to be stagnation or decreasing demand, OPEC will have to deal with that and adjust its production accordingly.
    SOURCE: Reuters 2 months ago
  16. The question is: Is current demand being met by OPEC? Yes, demand is being met.
    SOURCE: Bloomberg.com 2 months ago
  17. The question is not whether OPEC has enough spare capacity or not
    SOURCE: Bloomberg.com 2 months ago
  18. I don't have a real love of OPEC
    SOURCE: Daily Local News 2 months ago
  19. It will be a very comfortable meeting for OPEC in December, it will be a friendly meeting there will be no argument
    SOURCE: Reuters Mobile 2 months ago
  20. Look. How are we going to pay for all this high-priced OPEC oil now that the OPEC countries are raising the price?
    SOURCE: Credit Writedowns 2 months ago
  21. OPEC is sometimes irritated by us as we, not being a member of the organization, produce more oil, which influences international crude oil prices ... But we will coordinate our work with OPEC.
    – Vladimir Putin SOURCE: The Heritage Foundation 2 months ago
  22. OPEC is sometimes irritated by us as we, not being a member of the organization, produce more oil, which influences international crude oil prices ... But we will coordinate our work with OPEC.
    – Vladimir Putin SOURCE: The Heritage Foundation 2 months ago
  23. I believe it will be discussed in the next OPEC meeting ... We have to first prove that some countries have increased their production.
    SOURCE: Iran Daily 2 months ago
  24. giving summit ... of the revolution in the oil and gas industry and how we have the capacity to produce enough oil to enable America to replace OPEC.
    – Harold Hamm SOURCE: The Delaware County Times 2 months ago