OPEC

Also known as: Organization of Petroleum Exporting Countries

OPEC is the organization that coordinates crude oil production levels for the major crude-exporting countries, in an effort to balance global crude supply and demand to maintain market stability.

OPEC members are:

Saudi Arabia
Iran
Venezuela
Iraq
Nigeria
Qatar
Indonesia
Kuwait
Algeria
UAE
Libya
Ecuador
Angola
Gabon

McKinsey uses cookies to improve site functionality, provide you with a better browsing experience, and to enable our partners to advertise to you. Detailed information on the use of cookies on this Site, and how you can decline them, is provided in our cookie policy. By using this Site or clicking on "OK", you consent to the use of cookies.