Definition of OPEC in the English dictionary
The definition of OPEC in the dictionary is Organization of Petroleum-Exporting Countries: an organization formed in 1961 to administer a common policy for the sale of petroleum. Its members are Algeria, Angola, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. Ecuador and Gabon were members but withdrew in 1992 and 1995 respectively.
7 QUOTES WITH «OPEC»
Famous quotes and sentences with the word
OPEC.
Instead of begging OPEC to drop its oil prices, let's use American leadership and ingenuity to solve our own energy problems.
If the Administration does nothing, high gasoline prices will continue to increasingly burden our economy, taking millions of dollars out of the hands of families and putting it straight into the pockets of OPEC.
As the cost of gasoline rises and our dependence on foreign oil continues to increase, the effect of sending over $100 billion each year to OPEC nations hurts every American.
The Christians had a better chance against the lions than the American consumer has against the OPEC cartel.
There is no free market for oil. It's controlled by a cartel, OPEC.
Hamad bin Khalifa Al Thani
I don't see why OPEC countries should continue to cut production just to keep the price of oil high. This will not affect the industrial countries alone, it will also hit poor countries in Africa, Asia and Latin America. Who will look after them?
If you look - look at - I mean, look at what's going on with your gasoline prices. They're going to go to $5, $6, $7 and we don't have anybody in Washington that calls OPEC and says, 'Fellas, it's time. It's over. You're not going to do it anymore.'
10 ENGLISH BOOKS RELATING TO «OPEC»
Discover the use of
OPEC in the following bibliographical selection. Books relating to
OPEC and brief extracts from same to provide context of its use in English literature.
1
Opec:: Twenty-Five Years of Prices and Politics
This book examines the history of OPEC, and the events that shaped the organisation and the world economy since its creation in 1960.
2
Managing the Oil Wealth:
OPEC's Windfalls and Pitfalls
This text explores OPEC's rise, decline and virtual disappearance as a commercial force.
3
OPEC: The Failing Giant
Traces the history of OPEC, examines how it has changed the oil industry, and looks at the problems that threaten to end its effectiveness.
This collection of articles places a contemporary spotlight on the main issues at stake.
Fadhil J. Al-Chalabi, 1989
5
Principles of Economics
OPEC. and. the. World. Oil. Market. Our story about the town's market for water is
fictional, but if we change water to crude oil, and Jack and Jill to Iran and Iraq, the
story is close to being true. Much of the world's oil is produced by a few ...
6
The
OPEC Fund for International Development: The Formative Years
The Venezuelan proposal was also unattractive to several other OPEC countries
for a more sensitive reason. This reason lay in the basis on which Venezuela
proposed to calculate the level of each member's contribution to the facility on the
...
Ibrahim F. I. Shihata, 2010
Quito marked the beginning of a new phase. Oil consumption was declining,
thanks to the recession, conservation, and the use of alternative fuels. Production
from non-OPEC countries such as Britain, Mexico, and even the United States
was ...
OPEC's Functions — OPEC Secretariat — HE Abdallah Salem El Badri OPEC
General- Secretary OPEC's Proven Oil Reserves Board of Governors Heads of
Delegation Economic Commission Current Objective ...
9
The Politics of International Economic Relations
was traded on the spot market.44 The situation improved somewhat for OPEC
members in the second half of the 1980s, as demand recovered and everyone
was able to increase production, including the Saudis (see Figure 9.4). But oil
prices ...
Joan Edelman Spero, Jeffrey Hart, 2009
10
Oil Politics: A Modern History of Petroleum
Francisco Parra sets out the political and economic events which, since the 1950s, have shaped the international petroleum industry and world affairs.
10 NEWS ITEMS WHICH INCLUDE THE TERM «OPEC»
Find out what the national and international press are talking about and how the term
OPEC is used in the context of the following news items.
Oil Falls As OPEC Tightens The Screw
For oil, it is OPEC who have provided the framework with their declared and very public intent to take on the alternative energy suppliers head ... «Investing.com, Jul 15»
Major OPEC Bigwig Removes Petrol Subsidy
The third biggest OPEC producer, the United Arab Emirates (UAE), will link gasoline and diesel prices to global oil markets, starting next month, ... «Nigerian Bulletin, Jul 15»
OPEC crudes' price at USD 53.04 pb
VIENNA, July 24 (KUNA) -- OPEC's daily basket price stood at USD 53.04 a barrel on Thursday, compared with USD 53.45 the previous day, ... «Kuwait News Agency, Jul 15»
OPEC is costing OPEC $200 billion a year
In a recent note to clients, J. P. Morgan's Sergey V. Arinin estimated just how much the Kingdom's November decision may have cost them and ... «Business Insider, Jul 15»
Oil Declines, Nearing Bear Market as Crude Supply Glut Expands
Oil relapsed into a bear market in New York as resilient U.S. output, rising OPEC supply and threats to Chinese demand keep a global glut in ... «Bloomberg, Jul 15»
OPEC Crude Drops to $53.45
VIENNA – The basket of crude oil used as a benchmark indicator by the Organization of Petroleum Exporting Countries dropped to $53.45 a barrel, the OPEC ... «Latin American Herald Tribune, Jul 15»
OPEC sees oil drop as short-term, expects stronger demand …
OPEC, in a major policy shift, decided in November against cutting its ... this month said the price drop was unlikely to last and OPEC would not ... «Reuters, Jul 15»
OPEC, Get Ready For The Second US Oil Boom By James Stafford
What OPEC countries fear most is a follow-up technological revolution that will lead to a second oil boom in the U.S., and that fear is now being ... «Al-Jazeerah.info, Jul 15»
OPEC crudes' price at USD 53.57 pb
VIENNA, July 22 (KUNA) -- OPEC's daily basket price stood at USD 53.57 a barrel on Tuesday, compared with USD 53.79 the previous day, the ... «Kuwait News Agency, Jul 15»
OPEC Crude Drops to $53.79
VIENNA – The basket of crude oil used as a benchmark indicator by the Organization of Petroleum Exporting Countries decreased to $53.79 a barrel, the OPEC ... «Latin American Herald Tribune, Jul 15»
