Asked in Politics and GovernmentUnited NationsPondicherry
Politics and Government
How many nations attend the initial meeting for OPEC?
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Asked in Economics, Oligopoly
Are any other entities outside of OPEC nations involved in the production of gasoline?
Asked in Acronyms & Abbreviations
What does OPEC stand for?
OPEC stands for the Organization of Petroleum Exporting Countries - a sort of coalition of nations that all consistently export oil. OPEC was founded at a meeting on September 14, 1960 in Baghdad, Iraq by five founding members: Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. Since then Qatar (1961), Indonesia (1962), Socialist People's Libyan Arab Jamahiriya (1962), United Arab Emirates (1967), Algeria (1969), and Nigeria (1971) have joined the organization.
Asked in Economics, Oligopoly
How many barrels of oil does OPEC produce per day?
Asked in History, Politics & Society, Japan in WW2, History of the Middle East, Arabic Language and Culture
Why did the Arab nations impose an embargo on oil shipments to the US?
Asked in Science
What nations are not in the OPEC?
Asked in Economics, Countries, States, and Cities
Which nations were original OPEC members?
The Organization of Petroleum Exporting Countries - OPEC - was formed at the 1960 Baghdad Conference. Of the 12 current member countries, five created the organization. These were Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Now, with the addition of Qatar, Libya, the UAE, Algeria, Nigeria, Angola and Ecuador, OPEC nations own almost 80% of the world's crude oil.
Asked in Business & Finance
Have OPEC nations increased the price that they charge for oil in the last few years?
Of the five nations starting OPEC which were Middle Eastern?
Asked in Saudi Arabia
What is the organization that Saudi Arabia and other oil producing nations formed in 1960?
Asked in Economics
Are there other groups outside the OPEC nations that are involved in the production and sale of gasoline?
Asked in Demographics
What country holds the second and third largest us debt?
What are the effects of OPEC on the US?
Well OPEC is consisted of nations that have high amount of petroleum (OPEC stands for Organization of the Petroleum Exporting Countries) and considering the US gets a significant amount of oil from countries like Saudi Arabia they can change the prices per barrel and this would effect how much gas cost at your local gas station.
How would you describe the oil embargo of the early 1970's?
Asked in Countries, States, and Cities, History of the Middle East, Middle East, Arabic Language and Culture, Oil and Petroleum
What are the non-Arab petroleum producing countries?
The following countries produce more than 1% of the world's petroleum and are listed from most to least percentage: Country Percent of Production Arab or Non-Arab OPEC Member Russia 12.65% Non-Arab Non-OPEC Saudi Arabia 11.28% Arab OPEC United States 10.74% Non-Arab Non-OPEC Iran 4.77% Non-Arab OPEC China 4.56% Non-Arab Non-OPEC Canada 3.90% Non-Arab Non-OPEC Iraq 3.75% Arab OPEC United Arab Emirates 3.32% Arab OPEC Mexico 3.56% Non-Arab Non-OPEC Kuwait 2.96% Arab OPEC Brazil 3.05% Non-Arab Non-OPEC Nigeria 2.62% Non-Arab OPEC Venezuela 2.93% Non-Arab OPEC Norway 2.79% Non-Arab Non-OPEC Algeria 2.52% Arab OPEC Angola 2.31% Non-Arab OPEC Kazakhstan 1.83% Non-Arab Non-OPEC Qatar 1.44% Arab OPEC United Kingdom 1.78% Non-Arab Non-OPEC Azerbaijan 1.20% Non-Arab Non-OPEC Indonesia 1.66% Non-Arab Non-OPEC