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OPEC Brief Introduction The rise of OPEC OPEC is a intergovernmental organization, aimed at the coordination and unification of the petroleum policies of Member Countries and the determination of the best means for safeguarding their interests. coordinate and unify petroleum policies secure fair and stable prices for producers ensure an efficient, economic and regular supply of petroleum secure a fair return to producers The Conference consist of delegations representing the Member Countries hold two Ordinary Meetings a year The Board of Governors implement(执行) the decisions of the Conference draw up the Budget of the Organization The Secretariat implement all resolutions passed by the Conference and carry out all decisions made by the Board of Governors The five Founding Members Iran Iraq Kuwait Saudi Arabia Venezuela Africa Algeria 阿尔及利亚 Libya 利比亚 Nigeria 尼日利亚 Angola 安哥拉 South America Venezuela 委内瑞拉 Ecuador 厄瓜多尔 The Middle East Iran 伊朗 Iraq 伊拉克 Kuwait 科威特 Saudi Arabia 沙特阿拉伯 Qatar 卡塔尔 United Arab Emirates 阿拉伯联合酋长国 Development Course The 1960s OPEC was created at the Baghdad Conference on September 10–14, 1960. Geneva(日内瓦), Switzerland The 1970s broaden its mandate with the first Summit of Heads of State and Government in1975. establish the OPEC Fund for International Development (OFLD) in January 1976. The 1980s OPEC’s share of the smaller oil market fell heavily and its total petroleum revenue dropped. Prices rallied(回升) in the final part of the decade. The 1990s OPEC action reduced the market impact in 1990–1991. After the Earth Summit(地球峰会)of 1992, OPEC sought fairness, balance and realism in the treatment of oil supply. The 2000s OPEC’s 2nd and 3rd summits in 2000 and 2007 established stable energy markets, sustainable development and the environment as three guiding themes. Latest News OPEC daily basket price
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