Tag opec

OPEC (Organization of the Petroleum Exporting Countries) is a cartel of 13 oil-producing countries that coordinates the production and sale of oil on the global market. The member countries of OPEC are:

1. Algeria
2. Angola
3. Ecuador
4. Iran
5. Iraq
6. Kuwait
7. Libya
8. Nigeria
9. Qatar
10. Saudi Arabia
11. United Arab Emirates
12. Venezuela

OPEC's main goals are to:

1. Stabilize the global oil market
2. Ensure a fair return on investment for its member countries
3. Promote economic development and cooperation among its member countries

OPEC has a significant impact on the global oil market, as it controls around 40% of the world's total oil production. The organization's decisions on oil production levels can influence oil prices, which in turn can affect the global economy.

Some of the key statistics about OPEC include:

• OPEC's total oil production: around 34 million barrels per day (mb/d)
• OPEC's share of global oil production: around 40%
• OPEC's oil reserves: around 1.4 trillion barrels
• OPEC's oil exports: around 25 mb/d

OPEC has been in existence since 1960, and its member countries have a significant influence on the global oil market.