Definition : Organization of Petroleum Exporting Countries
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What does OPEC mean?

Organization of Petroleum Exporting Countries (OPEC) is an intergovernmental organization of 15 nations. It was founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela), and headquartered in Vienna, Austria. OPEC hosts regular meetings among the oil ministers of its Member Countries. The members of OPEC are Algeria, Angola, Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Republic of the Congo, Saudi Arabia, the United Arab Emirates, and Venezuela.

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United States OPEC Ohio Prevention and Education Conference
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