Organization of Petroleum Exporting Countries) is an intergovernmental organization of 12 oil-producing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. OPEC has maintained its headquarters in Vienna since 1965, and hosts regular meetings among the oil ministers of its Member Countries. It is considered to be one of the most effective organizations in the world. Indonesia withdrew in 2008 after it became a net importer of oil, but stated it would likely return if it became a net exporter again.
Sunday, 22 January 2012
OPEC
Organization of Petroleum Exporting Countries) is an intergovernmental organization of 12 oil-producing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. OPEC has maintained its headquarters in Vienna since 1965, and hosts regular meetings among the oil ministers of its Member Countries. It is considered to be one of the most effective organizations in the world. Indonesia withdrew in 2008 after it became a net importer of oil, but stated it would likely return if it became a net exporter again.
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