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OPEC (The Organization for Petroleum Exporting Countries)

OPEC (The Organization for Petroleum Exporting Countries). Ethan Kerstein Period 5. Mission Statement .

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OPEC (The Organization for Petroleum Exporting Countries)

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  1. OPEC (The Organization for Petroleum Exporting Countries) Ethan Kerstein Period 5

  2. Mission Statement • 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.

  3. Member Countries • Algeria • Angola • Ecuador • Iran • Iraq • Kuwait • Libya • Nigeria • Qatar • Saudi Arabia • United Arab Emirates • Venezuela

  4. Map of OPEC Countries Vienna, Austria

  5. Origins • Created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela • Formation by five oil-producing developing countries in Baghdad in September 1960 occurred at a time of transition in the international economic and political landscape, with extensive decolonization and the birth of many new independent states in the developing world

  6. Sources • www.opec.org • www.islamtribune.com

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