et

OPEC

2 abbreviation

Terminological databases

EKI terminibaas Esterm

ID 737003 Last modified 14.06.2017
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Domain Organisation of the Petroleum Exporting Countries; OPEC
  • 12 naftat eksportivat arenguriiki ühendav alaline valitsustevaheline organisatsioon, mis koordineerib ja ühtlustab oma liikmesriikide nafta-poliitikat
  • international body created in 1961 by countries that produce and export petroleum, for the purpose of establishing common strategies designed to protect member interests by means of production quotas and minimum prices based on quality
  • permanent intergovernmental organisation of 12 oil-exporting developing nations that coordinates and unifies the petroleum policies of its member countries
OPEC abbreviation
Organization of the Petroleum Exporting Countries
Usage examples
  • In accordance with its Statute, the mission of the Organization of the Petroleum Exporting Countries (OPEC) is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry.
OPEC abbreviation
Usage examples
  • The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.

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