Organization of the Petroleum Exporting Countries
Company Information
About Organization of the Petroleum Exporting Countries
The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization founded in 1960 to coordinate and unify the petroleum policies of its member countries. OPEC's primary goal is to ensure the stabilization of oil markets, securing a steady supply of oil to consumers, and providing a fair return on capital to those investing in the petroleum industry. The organization plays a crucial role in influencing global oil prices and production levels. OPEC's member countries include some of the world's largest oil producers, and it operates primarily in the energy sector, focusing on oil production and exportation. Through its collective efforts, OPEC aims to maintain a balance between supply and demand in the oil market, contributing to economic stability.
Frequently Asked Questions
Where is Organization of the Petroleum Exporting Countries located?
Organization of the Petroleum Exporting Countries is headquartered in Vienna, Austria, OPEC.
When was Organization of the Petroleum Exporting Countries founded?
Organization of the Petroleum Exporting Countries was founded in 1960.
What industry does Organization of the Petroleum Exporting Countries operate in?
Organization of the Petroleum Exporting Countries operates in the OCTG (Oil Country Tubular Goods) sector as a trading & distribution company, primarily serving the Middle East market.