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Click here for more information."><img alt="This is a good article. Click here for more information." src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/en/thumb/9/94/Symbol_support_vote.svg/19px-Symbol_support_vote.svg.png" decoding="async" width="19" height="20" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/en/thumb/9/94/Symbol_support_vote.svg/29px-Symbol_support_vote.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/en/thumb/9/94/Symbol_support_vote.svg/39px-Symbol_support_vote.svg.png 2x" data-file-width="180" data-file-height="185"/></a></div> </div> <h1 id="firstHeading" class="firstHeading" lang="en">OPEC</h1> <div id="bodyContent" class="mw-body-content"> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> <div id="contentSub"></div> <div id="contentSub2"></div> <div id="jump-to-nav"></div> <a class="mw-jump-link" href="#mw-head">Jump to navigation</a> <a class="mw-jump-link" href="#searchInput">Jump to search</a> <div id="mw-content-text" lang="en" dir="ltr" class="mw-content-ltr"><div class="mw-parser-output"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">International organization of petroleum-exporting countries</div> <table class="infobox geography vcard" style="width:22em;font-size:88%;"><tbody><tr><th colspan="2" class="adr" style="text-align:center;font-size:125%;font-weight:bold;padding:0.25em 0.33em 0.33em;line-height:1.2em;font-size:1.25em;"><div style="display:inline" class="fn org country-name">Organization of the Petroleum Exporting Countries (OPEC)</div> </th></tr><tr><td colspan="2" style="text-align:center;text-align:center;padding:0.5em 0;"><div style="display:table; width:100%;"> <div style="display:table-cell; vertical-align:middle; padding: 0px 5px 3px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Flag_of_OPEC.svg" class="image" title="Flag of OPEC"><img alt="Flag of OPEC" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/d1/Flag_of_OPEC.svg/125px-Flag_of_OPEC.svg.png" decoding="async" width="125" height="75" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/d1/Flag_of_OPEC.svg/188px-Flag_of_OPEC.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/d1/Flag_of_OPEC.svg/250px-Flag_of_OPEC.svg.png 2x" data-file-width="500" data-file-height="300"/></a></div> </div> <div>Flag</div></td></tr><tr><td colspan="2" style="text-align:center"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:OPEC.svg" class="image" title="Location of OPEC"><img alt="Location of OPEC" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/68/OPEC.svg/250px-OPEC.svg.png" decoding="async" width="250" height="128" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/68/OPEC.svg/375px-OPEC.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/68/OPEC.svg/500px-OPEC.svg.png 2x" data-file-width="2560" data-file-height="1314"/></a></td></tr><tr><th scope="row">Headquarters</th><td><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Vienna" title="Vienna">Vienna</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Austria" title="Austria">Austria</a></td></tr><tr><th scope="row">Official language</th><td><a href="/web/20200927210526/https://en.wikipedia.org/wiki/English_language" title="English language">English</a></td></tr><tr><th scope="row">Type</th><td><a href="/web/20200927210526/https://en.wikipedia.org/wiki/International_organization" title="International organization">International</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Cartel" title="Cartel">cartel</a><a href="#cite_note-cartel-1">[1]</a></td></tr><tr><th scope="row">Membership</th><td><div class="NavFrame collapsed" style="border: none; padding: 0;"> <div class="NavHead" style="font-size: 105%; background: transparent; text-align: left; background:transparent;text-align:left;font-weight:normal;">13 states (March 2020)<a href="#cite_note-OPEC_Member-2">[2]</a><a href="#cite_note-May2017Vienna-3">[3]</a><a href="#cite_note-EcuadorExitStatement20200102-4">[4]</a></div> <ul class="NavContent" style="list-style: none none; margin-left: 0; text-align: left; font-size: 105%; margin-top: 0; margin-bottom: 0; line-height: inherit;"><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/23px-Flag_of_Algeria.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/35px-Flag_of_Algeria.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/45px-Flag_of_Algeria.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Algeria" title="Algeria">Algeria</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/23px-Flag_of_Angola.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/35px-Flag_of_Angola.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/45px-Flag_of_Angola.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Angola" title="Angola">Angola</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/23px-Flag_of_the_Republic_of_the_Congo.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/35px-Flag_of_the_Republic_of_the_Congo.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/45px-Flag_of_the_Republic_of_the_Congo.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Republic_of_the_Congo" title="Republic of the Congo">Congo</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/23px-Flag_of_Equatorial_Guinea.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/35px-Flag_of_Equatorial_Guinea.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/45px-Flag_of_Equatorial_Guinea.svg.png 2x" data-file-width="1200" data-file-height="800"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Equatorial_Guinea" title="Equatorial Guinea">Equatorial Guinea</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/20px-Flag_of_Gabon.svg.png" decoding="async" width="20" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/31px-Flag_of_Gabon.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/40px-Flag_of_Gabon.svg.png 2x" data-file-width="1000" data-file-height="750"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gabon" title="Gabon">Gabon</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/23px-Flag_of_Iran.svg.png" decoding="async" width="23" height="13" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/35px-Flag_of_Iran.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/46px-Flag_of_Iran.svg.png 2x" data-file-width="630" data-file-height="360"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iran" title="Iran">Iran</a>* </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/23px-Flag_of_Iraq.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/35px-Flag_of_Iraq.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/45px-Flag_of_Iraq.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iraq" title="Iraq">Iraq</a>* </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/23px-Flag_of_Kuwait.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/35px-Flag_of_Kuwait.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/46px-Flag_of_Kuwait.svg.png 2x" data-file-width="1200" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Kuwait" title="Kuwait">Kuwait</a>* </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/23px-Flag_of_Libya.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/35px-Flag_of_Libya.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/46px-Flag_of_Libya.svg.png 2x" data-file-width="960" data-file-height="480"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Libya" title="Libya">Libya</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/23px-Flag_of_Nigeria.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/35px-Flag_of_Nigeria.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/46px-Flag_of_Nigeria.svg.png 2x" data-file-width="1200" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Nigeria" title="Nigeria">Nigeria</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/23px-Flag_of_Saudi_Arabia.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/35px-Flag_of_Saudi_Arabia.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/45px-Flag_of_Saudi_Arabia.svg.png 2x" data-file-width="750" data-file-height="500"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a>* </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/23px-Flag_of_the_United_Arab_Emirates.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/35px-Flag_of_the_United_Arab_Emirates.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/46px-Flag_of_the_United_Arab_Emirates.svg.png 2x" data-file-width="1200" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/United_Arab_Emirates" title="United Arab Emirates">United Arab Emirates</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/23px-Flag_of_Venezuela.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/35px-Flag_of_Venezuela.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/45px-Flag_of_Venezuela.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Venezuela" title="Venezuela">Venezuela</a>* </li><li style="line-height: inherit; margin: 0"> * founding member </li></ul> </div></td></tr><tr><th colspan="2" style="text-align:center;text-align:left;">Leaders</th></tr><tr class="mergedrow"><td colspan="2" style="text-align:center"></td></tr><tr class="mergedrow"><th scope="row"><div style="text-indent:-0.9em;margin-left:1.2em;font-weight:normal;">• <a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_Secretaries_General_of_OPEC" title="List of Secretaries General of OPEC">Secretary General</a> </div></th><td><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Mohammed_Barkindo" title="Mohammed Barkindo">Mohammed Barkindo</a></td></tr><tr style="display:none"><td colspan="2"> </td></tr><tr><th scope="row">Establishment</th><td><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Baghdad" title="Baghdad">Baghdad</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iraq" title="Iraq">Iraq</a></td></tr><tr class="mergedrow"><td colspan="2" style="text-align:center"></td></tr><tr class="mergedrow"><th scope="row"><div style="text-indent:-0.9em;margin-left:1.2em;font-weight:normal;">• Statute </div></th><td>September 1960</td></tr><tr class="mergedrow"><th scope="row"><div style="text-indent:-0.9em;margin-left:1.2em;font-weight:normal;">• In effect </div></th><td>January 1961</td></tr><tr style="display:none"><td colspan="2"> </td></tr><tr><th scope="row">Currency</th><td>Indexed as <a href="/web/20200927210526/https://en.wikipedia.org/wiki/United_States_dollar" title="United States dollar">USD</a> per <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Barrel_(unit)" title="Barrel (unit)">barrel</a> (<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Price_of_oil" title="Price of oil">US$/bbl</a>)</td></tr><tr><td colspan="2" style="text-align:center"><div style="line-height:11pt">Website <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.opec.org/">OPEC.org</a></div></td></tr></tbody></table> The Organization of the Petroleum Exporting Countries (OPEC, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Help:IPA/English" title="Help:IPA/English">/ˈoʊpɛk/</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Help:Pronunciation_respelling_key" title="Help:Pronunciation respelling key">OH-pek</a>) is an <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Intergovernmental_organization" title="Intergovernmental organization">intergovernmental organization</a> of 13<a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.opec.org/opec_web/en/about_us/25.htm">[ref]</a> nations. Founded on 14 September 1960 in <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Baghdad" title="Baghdad">Baghdad</a> by the first five members (<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iran" title="Iran">Iran</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iraq" title="Iraq">Iraq</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Kuwait" title="Kuwait">Kuwait</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a>, and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Venezuela" title="Venezuela">Venezuela</a>), it has since 1965 been headquartered in <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Vienna" title="Vienna">Vienna, Austria</a>, although Austria is not an OPEC member state. As of September 2018<a class="external text" href="https://web.archive.org/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit">[update]</a>, the 13 member countries accounted for an estimated 44 percent of <a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_oil_production" title="List of countries by oil production">global oil production</a> and 81.5 percent of <a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves" title="List of countries by proven oil reserves">the world's "proven" oil reserves</a>, giving OPEC a major influence on <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Price_of_oil" title="Price of oil">global oil prices</a> that were previously determined by the so-called "<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Seven_Sisters_(oil_companies)" title="Seven Sisters (oil companies)">Seven Sisters</a>" grouping of multinational oil companies. A larger group called OPEC+ was formed in late 2016, to have more control on global crude oil market.<a href="#cite_note-ope-5">[5]</a> The demand for OPEC oil has fallen to a 30-year low in second quarter of 2020.<a href="#cite_note-6">[6]</a> The stated mission of the organization is 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 <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Energy_supply" title="Energy supply">supply</a> of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry."<a href="#cite_note-7">[7]</a> The organization is also a significant provider of information about the international oil market. The current OPEC members are the following:<a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.opec.org/opec_web/en/about_us/25.htm">[ref]</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Algeria" title="Algeria">Algeria</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Angola" title="Angola">Angola</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Equatorial_Guinea" title="Equatorial Guinea">Equatorial Guinea</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gabon" title="Gabon">Gabon</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iran" title="Iran">Iran</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iraq" title="Iraq">Iraq</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Kuwait" title="Kuwait">Kuwait</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Libya" title="Libya">Libya</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Nigeria" title="Nigeria">Nigeria</a>, the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Republic_of_the_Congo" title="Republic of the Congo">Republic of the Congo</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a> (the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/De_facto" title="De facto">De facto</a> leader), the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/United_Arab_Emirates" title="United Arab Emirates">United Arab Emirates</a> and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Venezuela" title="Venezuela">Venezuela</a>. Former OPEC members are <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Ecuador" title="Ecuador">Ecuador</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Indonesia" title="Indonesia">Indonesia</a> and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Qatar" title="Qatar">Qatar</a>.<a href="#cite_note-8">[8]</a> The formation of OPEC marked a turning point toward <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Nationalization_of_oil_supplies" title="Nationalization of oil supplies">national sovereignty over natural resources</a>, and OPEC decisions have come to play a prominent role in the global oil market and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petroleum_politics" title="Petroleum politics">international relations</a>. The effect can be particularly strong when wars or <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Civil_disorders" class="mw-redirect" title="Civil disorders">civil disorders</a> lead to extended interruptions in supply. In the 1970s, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/1970s_energy_crisis" title="1970s energy crisis">restrictions in oil production</a> led to a dramatic rise in oil prices and in the revenue and wealth of OPEC, with long-lasting and far-reaching consequences for the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Global_economy" class="mw-redirect" title="Global economy">global economy</a>. In the 1980s, OPEC began setting <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Production_quota" title="Production quota">production targets</a> for its member nations; generally, when the targets are reduced, oil prices increase. This has occurred most recently from the organization's 2008, and 2016 decisions to trim oversupply. Economists often cite OPEC as a textbook example of a <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Cartel" title="Cartel">cartel</a> that cooperates to reduce <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Market_competition" class="mw-redirect" title="Market competition">market competition</a>, but one whose consultations are protected by the doctrine of <a href="/web/20200927210526/https://en.wikipedia.org/wiki/State_immunity" title="State immunity">state immunity under international law</a>. In December 2014, "OPEC and the oil men" ranked as #3 on <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Lloyd%27s" class="mw-redirect" title="Lloyd's">Lloyd's</a> list of "the top 100 most influential people in the shipping industry".<a href="#cite_note-9">[9]</a> However, the influence of OPEC on international trade is periodically challenged by the expansion of non-OPEC energy sources, and by the recurring temptation for individual OPEC countries to exceed production targets and pursue conflicting self-interests. In October 2019, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a> invited <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Brazil" title="Brazil">Brazil</a> to join OPEC.<a href="#cite_note-10">[10]</a> The president of <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petrobras" title="Petrobras">Petrobras</a>, Roberto Castello Branco, in an interview in <a href="/web/20200927210526/https://en.wikipedia.org/wiki/New_York_City" title="New York City">New York</a>, said that being a member of OPEC is not an option currently considered by the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Brazilian_federal_government" class="mw-redirect" title="Brazilian federal government">Brazilian federal government</a>.<a href="#cite_note-11">[11]</a> <div id="toc" class="toc" role="navigation" aria-labelledby="mw-toc-heading"><input type="checkbox" role="button" id="toctogglecheckbox" class="toctogglecheckbox" style="display:none"/><div class="toctitle" lang="en" dir="ltr"><h2 id="mw-toc-heading">Contents</h2><label class="toctogglelabel" for="toctogglecheckbox"></label></div> <ul> <li class="toclevel-1 tocsection-1"><a href="#History_and_impact">1 History and impact</a> <ul> <li class="toclevel-2 tocsection-2"><a href="#Post-WWII_situation">1.1 Post-WWII situation</a></li> <li class="toclevel-2 tocsection-3"><a href="#1959–1960_anger_from_exporting_countries">1.2 1959–1960 anger from exporting countries</a></li> <li class="toclevel-2 tocsection-4"><a href="#1960–1975_founding_and_expansion">1.3 1960–1975 founding and expansion</a></li> <li class="toclevel-2 tocsection-5"><a href="#1973–1974_oil_embargo">1.4 1973–1974 oil embargo</a></li> <li class="toclevel-2 tocsection-6"><a href="#1975–1980_Special_Fund,_now_OFID">1.5 1975–1980 Special Fund, now OFID</a></li> <li class="toclevel-2 tocsection-7"><a href="#1975_hostage_siege">1.6 1975 hostage siege</a></li> <li class="toclevel-2 tocsection-8"><a href="#1979–1980_oil_crisis_and_1980s_oil_glut">1.7 1979–1980 oil crisis and 1980s oil glut</a></li> <li class="toclevel-2 tocsection-9"><a href="#1990–2003_ample_supply_and_modest_disruptions">1.8 1990–2003 ample supply and modest disruptions</a></li> <li class="toclevel-2 tocsection-10"><a href="#2003–2011_volatility">1.9 2003–2011 volatility</a></li> <li class="toclevel-2 tocsection-11"><a href="#2008_production_dispute">1.10 2008 production dispute</a></li> <li class="toclevel-2 tocsection-12"><a href="#2014–2017_oil_glut">1.11 2014–2017 oil glut</a></li> <li class="toclevel-2 tocsection-13"><a href="#2017–2020_production_cut_and_OPEC+">1.12 2017–2020 production cut and OPEC+</a></li> <li class="toclevel-2 tocsection-14"><a href="#2020_Saudi-Russian_price_war">1.13 2020 Saudi-Russian price war</a></li> </ul> </li> <li class="toclevel-1 tocsection-15"><a href="#Membership">2 Membership</a> <ul> <li class="toclevel-2 tocsection-16"><a href="#Current_member_countries">2.1 Current member countries</a></li> <li class="toclevel-2 tocsection-17"><a href="#Lapsed_members">2.2 Lapsed members</a></li> <li class="toclevel-2 tocsection-18"><a href="#OPEC+_members">2.3 OPEC+ members</a></li> <li class="toclevel-2 tocsection-19"><a href="#Observers">2.4 Observers</a></li> <li class="toclevel-2 tocsection-20"><a href="#Vienna_Group">2.5 Vienna Group</a></li> <li class="toclevel-2 tocsection-21"><a href="#Leadership_and_decision-making">2.6 Leadership and decision-making</a></li> <li class="toclevel-2 tocsection-22"><a href="#International_cartel">2.7 International cartel</a></li> <li class="toclevel-2 tocsection-23"><a href="#Conflicts">2.8 Conflicts</a></li> </ul> </li> <li class="toclevel-1 tocsection-24"><a href="#Market_information">3 Market information</a> <ul> <li class="toclevel-2 tocsection-25"><a href="#Publications_and_research">3.1 Publications and research</a></li> <li class="toclevel-2 tocsection-26"><a href="#Crude_oil_benchmarks">3.2 Crude oil benchmarks</a></li> <li class="toclevel-2 tocsection-27"><a href="#Spare_capacity">3.3 Spare capacity</a></li> </ul> </li> <li class="toclevel-1 tocsection-28"><a href="#See_also">4 See also</a></li> <li class="toclevel-1 tocsection-29"><a href="#References">5 References</a></li> <li class="toclevel-1 tocsection-30"><a href="#Further_reading">6 Further reading</a></li> <li class="toclevel-1 tocsection-31"><a href="#External_links">7 External links</a></li> </ul> </div> <h2>History and impact[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=1" title="Edit section: History and impact">edit</a>]</h2> <h3>Post-WWII situation[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=2" title="Edit section: Post-WWII situation">edit</a>]</h3> In 1949, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/United_States_of_Venezuela" title="United States of Venezuela">Venezuela</a> and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Pahlavi_dynasty" title="Pahlavi dynasty">Iran</a> took the earliest steps in the direction of OPEC, by inviting <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iraq" title="Iraq">Iraq</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Kuwait" title="Kuwait">Kuwait</a> and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a> to improve communication among petroleum-exporting nations as the world recovered from <a href="/web/20200927210526/https://en.wikipedia.org/wiki/World_War_II" title="World War II">World War II</a>.<a href="#cite_note-open-12">[12]</a> At the time, some of the world's largest <a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_oil_fields" title="List of oil fields">oil fields</a> were just entering production in the Middle East. The United States had established the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Interstate_Oil_Compact_Commission" class="mw-redirect" title="Interstate Oil Compact Commission">Interstate Oil Compact Commission</a> to join the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Texas_Railroad_Commission" class="mw-redirect" title="Texas Railroad Commission">Texas Railroad Commission</a> in limiting overproduction. The US was simultaneously the world's largest producer and consumer of oil; and the world market was dominated by a group of <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Multinational_companies" class="mw-redirect" title="Multinational companies">multinational companies</a> known as the "<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Seven_Sisters_(oil_companies)" title="Seven Sisters (oil companies)">Seven Sisters</a>", five of which were headquartered in the US following the breakup of <a href="/web/20200927210526/https://en.wikipedia.org/wiki/John_D._Rockefeller" title="John D. Rockefeller">John D. Rockefeller</a>'s original <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Standard_Oil" title="Standard Oil">Standard Oil</a> monopoly. Oil-exporting countries were eventually motivated to form OPEC as a counterweight to this concentration of political and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Economic_power" title="Economic power">economic power</a>.<a href="#cite_note-prize-13">[13]</a> <h3>1959–1960 anger from exporting countries[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=3" title="Edit section: 1959–1960 anger from exporting countries">edit</a>]</h3> In February 1959, as new supplies were becoming available, the multinational oil companies (MOCs) unilaterally reduced their posted prices for Venezuelan and Middle Eastern crude oil by 10 percent. Weeks later, the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Arab_League" title="Arab League">Arab League</a>'s first <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Arab_Petroleum_Congress" class="mw-redirect" title="Arab Petroleum Congress">Arab Petroleum Congress</a> convened in Cairo, Egypt, where the influential journalist <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Wanda_Jablonski" title="Wanda Jablonski">Wanda Jablonski</a> introduced Saudi Arabia's <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Abdullah_Tariki" title="Abdullah Tariki">Abdullah Tariki</a> to Venezuela's observer <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Juan_Pablo_P%C3%A9rez_Alfonzo" title="Juan Pablo Pérez Alfonzo">Juan Pablo Pérez Alfonzo</a>, representing the two then-largest oil-producing nations outside the United States and the Soviet Union. Both oil ministers were angered by the price cuts, and the two led their fellow delegates to establish the Maadi Pact or Gentlemen's Agreement, calling for an "Oil Consultation Commission" of exporting countries, to which MOCs should present price-change plans. Jablonski reported a marked hostility toward the West and a growing outcry against "<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Absentee_landlord" title="Absentee landlord">absentee landlordism</a>" of the MOCs, which at the time controlled all oil operations within the exporting countries and wielded enormous political influence. In August 1960, ignoring the warnings, and with the US favoring Canadian and Mexican oil for strategic reasons, the MOCs again unilaterally announced significant cuts in their posted prices for Middle Eastern crude oil.<a href="#cite_note-open-12">[12]</a><a href="#cite_note-prize-13">[13]</a><a href="#cite_note-14">[14]</a><a href="#cite_note-15">[15]</a> <h3>1960–1975 founding and expansion[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=4" title="Edit section: 1960–1975 founding and expansion">edit</a>]</h3> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg" class="image"><img alt="refer to caption" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg/220px-Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg" decoding="async" width="220" height="165" class="thumbimage" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg/330px-Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg/440px-Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg 2x" data-file-width="3664" data-file-height="2742"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg" class="internal" title="Enlarge"></a></div>OPEC headquarters in Vienna (2009 building)</div></div></div> The following month, during 10–14 September 1960, the Baghdad Conference was held at the initiative of Tariki, Pérez Alfonzo, and Iraqi prime minister <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Abd_al-Karim_Qasim" title="Abd al-Karim Qasim">Abd al-Karim Qasim</a>, whose country had skipped the 1959 congress.<a href="#cite_note-16">[16]</a> Government representatives from Iran, Iraq, Kuwait, Saudi Arabia and Venezuela met in <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Baghdad" title="Baghdad">Baghdad</a> to discuss ways to increase the price of crude oil produced by their countries, and ways to respond to unilateral actions by the MOCs. Despite strong US opposition: "Together with Arab and non-Arab producers, Saudi Arabia formed the Organization of Petroleum Export Countries (OPEC) to secure the best price available from the major oil corporations."<a href="#cite_note-17">[17]</a> The Middle Eastern members originally called for OPEC headquarters to be in Baghdad or Beirut, but Venezuela argued for a neutral location, and so the organization chose <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Geneva" title="Geneva">Geneva</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Switzerland" title="Switzerland">Switzerland</a>. On 1 September 1965, OPEC moved to <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Vienna" title="Vienna">Vienna</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Austria" title="Austria">Austria</a>, after Switzerland declined to extend <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Diplomatic_privileges" class="mw-redirect" title="Diplomatic privileges">diplomatic privileges</a>.<a href="#cite_note-18">[18]</a> During 1961–1975, the five founding nations were joined by <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Qatar" title="Qatar">Qatar</a> (1961), <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Indonesia" title="Indonesia">Indonesia</a> (1962–2008, rejoined 2014–2016), <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Libya" title="Libya">Libya</a> (1962), <a href="/web/20200927210526/https://en.wikipedia.org/wiki/United_Arab_Emirates" title="United Arab Emirates">United Arab Emirates</a> (originally just the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Emirate_of_Abu_Dhabi" title="Emirate of Abu Dhabi">Emirate of Abu Dhabi</a>, 1967), <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Algeria" title="Algeria">Algeria</a> (1969), <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Nigeria" title="Nigeria">Nigeria</a> (1971), <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Ecuador" title="Ecuador">Ecuador</a> (1973–1992, 2007–2020), and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gabon" title="Gabon">Gabon</a> (1975–1994, rejoined 2016).<a href="#cite_note-OPEC_Member-2">[2]</a> By the early 1970s, OPEC's membership accounted for more than half of worldwide oil production.<a href="#cite_note-MarketShare-19">[19]</a> Indicating that OPEC is not averse to further expansion, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Mohammed_Barkindo" title="Mohammed Barkindo">Mohammed Barkindo</a>, OPEC's Acting Secretary General in 2006, urged his African neighbors Angola and Sudan to join,<a href="#cite_note-20">[20]</a> and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Angola" title="Angola">Angola</a> did in 2007, followed by <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Equatorial_Guinea" title="Equatorial Guinea">Equatorial Guinea</a> in 2017.<a href="#cite_note-May2017Vienna-3">[3]</a> Since the 1980s, representatives from Egypt, Mexico, Norway, Oman, Russia, and other oil-exporting nations have attended many OPEC meetings as observers, as an informal mechanism for coordinating policies.<a href="#cite_note-observers-21">[21]</a> In 1971, an accord was signed between major oil companies and members of OPEC doing business in the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Mediterranean_Sea" title="Mediterranean Sea">Mediterranean Sea</a> region, called the Tripoli Agreement. The agreement, signed on 2 April 1971, raised oil prices and increased producing countries' profit shares.<a href="#cite_note-OPEC_1971_Tripoli_Agreement-22">[22]</a> <h3>1973–1974 oil embargo[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=5" title="Edit section: 1973–1974 oil embargo">edit</a>]</h3> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg" class="image"><img alt="refer to caption" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/01/GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg/220px-GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg" decoding="async" width="220" height="149" class="thumbimage" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/01/GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg/330px-GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/01/GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg/440px-GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg 2x" data-file-width="2000" data-file-height="1359"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg" class="internal" title="Enlarge"></a></div>An undersupplied US gasoline station, closed during the oil embargo in 1973</div></div></div> <div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/web/20200927210526/https://en.wikipedia.org/wiki/1973_oil_crisis" title="1973 oil crisis">1973 oil crisis</a></div> In October 1973, the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Organization_of_Arab_Petroleum_Exporting_Countries" title="Organization of Arab Petroleum Exporting Countries">Organization of Arab Petroleum Exporting Countries</a> (OAPEC, consisting of the Arab majority of OPEC plus Egypt and Syria) declared significant production cuts and an oil <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Embargo" class="mw-redirect" title="Embargo">embargo</a> against the United States and other industrialized nations that supported <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Israel" title="Israel">Israel</a> in the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Yom_Kippur_War" title="Yom Kippur War">Yom Kippur War</a>.<a href="#cite_note-23">[23]</a><a href="#cite_note-Maugeri2006-24">[24]</a> A <a href="/web/20200927210526/https://en.wikipedia.org/wiki/1967_Oil_Embargo" title="1967 Oil Embargo">previous embargo attempt</a> was largely ineffective in response to the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Six-Day_War" title="Six-Day War">Six-Day War</a> in 1967.<a href="#cite_note-25">[25]</a> However, in 1973, the result was a sharp rise in oil prices and OPEC revenues, from US$3/bbl to US$12/bbl, and an emergency period of energy <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Rationing" title="Rationing">rationing</a>, intensified by panic reactions, a declining trend in US oil production, currency devaluations,<a href="#cite_note-Maugeri2006-24">[24]</a> and a lengthy UK coal-miners dispute. For a time, the UK imposed an emergency <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Three-Day_Week" title="Three-Day Week">three-day workweek</a>.<a href="#cite_note-26">[26]</a> Seven European nations banned non-essential Sunday driving.<a href="#cite_note-27">[27]</a> US gas stations limited the amount of gasoline that could be dispensed, closed on Sundays, and restricted the days when gasoline could be purchased, based on license plate numbers.<a href="#cite_note-28">[28]</a><a href="#cite_note-29">[29]</a> Even after the embargo ended in March 1974, following intense diplomatic activity, prices continued to rise. The world experienced a <a href="/web/20200927210526/https://en.wikipedia.org/wiki/1973%E2%80%9375_recession" class="mw-redirect" title="1973–75 recession">global economic recession</a>, with <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Stagflation" title="Stagflation">unemployment and inflation surging simultaneously</a>, steep declines in stock and bond prices, major shifts in <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Trade_balance" class="mw-redirect" title="Trade balance">trade balances</a> and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petrodollar_recycling" title="Petrodollar recycling">petrodollar flows</a>, and a dramatic end to the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Post%E2%80%93World_War_II_economic_expansion" title="Post–World War II economic expansion">post-WWII economic boom</a>.<a href="#cite_note-30">[30]</a><a href="#cite_note-31">[31]</a> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Women_Uses_Her_Home_Fireplace_for_Heat._A_Newspaper_Headline_before_Her_Tells_of_the_Community%27s_Lack_of_Heating_Oil_10-1973_(4271701391).jpg" class="image"><img alt="refer to caption" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/99/Women_Uses_Her_Home_Fireplace_for_Heat._A_Newspaper_Headline_before_Her_Tells_of_the_Community%27s_Lack_of_Heating_Oil_10-1973_%284271701391%29.jpg/220px-Women_Uses_Her_Home_Fireplace_for_Heat._A_Newspaper_Headline_before_Her_Tells_of_the_Community%27s_Lack_of_Heating_Oil_10-1973_%284271701391%29.jpg" decoding="async" width="220" height="325" class="thumbimage" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/99/Women_Uses_Her_Home_Fireplace_for_Heat._A_Newspaper_Headline_before_Her_Tells_of_the_Community%27s_Lack_of_Heating_Oil_10-1973_%284271701391%29.jpg/330px-Women_Uses_Her_Home_Fireplace_for_Heat._A_Newspaper_Headline_before_Her_Tells_of_the_Community%27s_Lack_of_Heating_Oil_10-1973_%284271701391%29.jpg 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/99/Women_Uses_Her_Home_Fireplace_for_Heat._A_Newspaper_Headline_before_Her_Tells_of_the_Community%27s_Lack_of_Heating_Oil_10-1973_%284271701391%29.jpg/440px-Women_Uses_Her_Home_Fireplace_for_Heat._A_Newspaper_Headline_before_Her_Tells_of_the_Community%27s_Lack_of_Heating_Oil_10-1973_%284271701391%29.jpg 2x" data-file-width="2030" data-file-height="3000"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Women_Uses_Her_Home_Fireplace_for_Heat._A_Newspaper_Headline_before_Her_Tells_of_the_Community%27s_Lack_of_Heating_Oil_10-1973_(4271701391).jpg" class="internal" title="Enlarge"></a></div>A woman uses <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Wood_fuel" title="Wood fuel">wood</a> in a <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Fireplace" title="Fireplace">fireplace</a> for heat. A newspaper headline in the foreground shows a story regarding a lack of heating oil in the community.</div></div></div> The 1973–1974, oil embargo had lasting effects on the United States and other industrialized nations, which established the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/International_Energy_Agency" title="International Energy Agency">International Energy Agency</a> in response, as well as national <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Global_strategic_petroleum_reserves" title="Global strategic petroleum reserves">emergency stockpiles</a> designed to withstand months of future supply disruptions. Oil <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Energy_conservation" title="Energy conservation">conservation</a> efforts included lower <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Speed_limit" title="Speed limit">speed limits</a> on highways, smaller and more <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Efficient_energy_use" title="Efficient energy use">energy-efficient</a> cars and appliances, year-round <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Daylight_saving_time" title="Daylight saving time">daylight saving time</a>, reduced usage of <a href="/web/20200927210526/https://en.wikipedia.org/wiki/HVAC" class="mw-redirect" title="HVAC">heating and air-conditioning</a>, better <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Building_insulation" title="Building insulation">insulation</a>, increased support of <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Mass_transit" class="mw-redirect" title="Mass transit">mass transit</a>, and greater emphasis on <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Coal" title="Coal">coal</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Natural_gas" title="Natural gas">natural gas</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Ethanol_fuel" title="Ethanol fuel">ethanol</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Nuclear_power" title="Nuclear power">nuclear</a> and other <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Alternative_energy" class="mw-redirect" title="Alternative energy">alternative energy</a> sources. These long-term efforts became effective enough that US oil consumption would rise only 11 percent during 1980–2014, while <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Real_GDP" class="mw-redirect" title="Real GDP">real GDP</a> rose 150 percent. But in the 1970s, OPEC nations demonstrated convincingly that their oil could be used as both a political and economic weapon against other nations, at least in the short term.<a href="#cite_note-Maugeri2006-24">[24]</a><a href="#cite_note-32">[32]</a><a href="#cite_note-33">[33]</a><a href="#cite_note-34">[34]</a><a href="#cite_note-35">[35]</a> But the embargo also meant that a section of the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Non-Aligned_Movement" title="Non-Aligned Movement">Non-Aligned Movement</a> saw power as a source of hope for their <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Developing_countries" class="mw-redirect" title="Developing countries">developing countries</a>. The Algerian president <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Houari_Boum%C3%A9di%C3%A8ne" title="Houari Boumédiène">Houari Boumédiène</a> expressed this hope in a speech at the UN's 6th Special Session in April 1974: <style data-mw-deduplicate="TemplateStyles:r960796168">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 40px}.mw-parser-output .templatequote .templatequotecite{line-height:1.5em;text-align:left;padding-left:1.6em;margin-top:0}</style><blockquote class="templatequote">The OPEC action is really the first illustration and at the same time the most concrete and most spectacular illustration of the importance of raw material prices for our countries, the vital need for the producing countries to operate the levers of price control, and lastly, the great possibilities of a union of raw material producing countries. This action should be viewed by the developing countries as an example and a source of hope.<a href="#cite_note-36">[36]</a></blockquote> <h3>1975–1980 Special Fund, now OFID[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=6" title="Edit section: 1975–1980 Special Fund, now OFID">edit</a>]</h3> <div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/web/20200927210526/https://en.wikipedia.org/wiki/OPEC_Fund_for_International_Development" title="OPEC Fund for International Development">OPEC Fund for International Development</a></div> OPEC's <a href="/web/20200927210526/https://en.wikipedia.org/wiki/International_aid" class="mw-redirect" title="International aid">international aid</a> activities date from well before the 1973–1974 oil price surge. For example, the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Kuwait_Fund_for_Arab_Economic_Development" title="Kuwait Fund for Arab Economic Development">Kuwait Fund for Arab Economic Development</a> has operated since 1961.<a href="#cite_note-37">[37]</a> In the years after 1973, as an example of so-called "<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Checkbook_diplomacy" title="Checkbook diplomacy">checkbook diplomacy</a>", certain Arab nations have been among the world's largest providers of foreign aid,<a href="#cite_note-38">[38]</a><a href="#cite_note-39">[39]</a> and OPEC added to its goals the selling of oil for the socio-economic growth of poorer nations. The OPEC Special Fund was conceived in <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Algiers,_Algeria" class="mw-redirect" title="Algiers, Algeria">Algiers, Algeria</a>, in March 1975, and was formally established the following January. "A Solemn Declaration 'reaffirmed the natural solidarity which unites OPEC countries with other developing countries in their struggle to overcome underdevelopment,' and called for measures to strengthen cooperation between these countries... [The OPEC Special Fund's] resources are additional to those already made available by OPEC states through a number of bilateral and multilateral channels."<a href="#cite_note-40">[40]</a> The Fund became an official international development agency in May 1980 and was renamed the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/OPEC_Fund_for_International_Development" title="OPEC Fund for International Development">OPEC Fund for International Development</a> (OFID),<a href="#cite_note-41">[41]</a> with Permanent Observer status at the United Nations.<a href="#cite_note-42">[42]</a> <h3>1975 hostage siege[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=7" title="Edit section: 1975 hostage siege">edit</a>]</h3> <div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/web/20200927210526/https://en.wikipedia.org/wiki/OPEC_siege" title="OPEC siege">OPEC siege</a></div> On 21 December 1975, Saudi Arabia's <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Ahmed_Zaki_Yamani" title="Ahmed Zaki Yamani">Ahmed Zaki Yamani</a>, Iran's <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Jamshid_Amuzegar" class="mw-redirect" title="Jamshid Amuzegar">Jamshid Amuzegar</a>, and the other OPEC oil ministers were taken hostage at their semi-annual conference in <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Vienna,_Austria" class="mw-redirect" title="Vienna, Austria">Vienna, Austria</a>. The attack, which killed three non-ministers, was orchestrated by a six-person team led by Venezuelan militant "<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Carlos_the_Jackal" title="Carlos the Jackal">Carlos the Jackal</a>", and which included <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gabriele_Kr%C3%B6cher-Tiedemann" title="Gabriele Kröcher-Tiedemann">Gabriele Kröcher-Tiedemann</a> and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Hans-Joachim_Klein" title="Hans-Joachim Klein">Hans-Joachim Klein</a>. The self-named "Arm of the Arab Revolution" group declared its goal to be the liberation of <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Palestine_(region)" title="Palestine (region)">Palestine</a>. Carlos planned to take over the conference by force and hold for ransom all eleven attending oil ministers, except for Yamani and Amuzegar who were to be executed.<a href="#cite_note-jackal-43">[43]</a> Carlos arranged bus and plane travel for his team and 42 of the original 63 hostages, with stops in <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Algiers" title="Algiers">Algiers</a> and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Tripoli" title="Tripoli">Tripoli</a>, planning to fly eventually to <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Baghdad" title="Baghdad">Baghdad</a>, where Yamani and Amuzegar were to be killed. All 30 non-Arab hostages were released in Algiers, excluding Amuzegar. Additional hostages were released at another stop in Tripoli before returning to Algiers. With only 10 hostages remaining, Carlos held a phone conversation with Algerian President <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Houari_Boum%C3%A9dienne" class="mw-redirect" title="Houari Boumédienne">Houari Boumédienne</a>, who informed Carlos that the oil ministers' deaths would result in an attack on the plane. Boumédienne must also have offered Carlos asylum at this time and possibly financial compensation for failing to complete his assignment. Carlos expressed his regret at not being able to murder Yamani and Amuzegar, then he and his comrades left the plane. All the hostages and terrorists walked away from the situation, two days after it began.<a href="#cite_note-jackal-43">[43]</a> Some time after the attack, Carlos's accomplices revealed that the operation was commanded by <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Wadie_Haddad" title="Wadie Haddad">Wadie Haddad</a>, a founder of the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Popular_Front_for_the_Liberation_of_Palestine" title="Popular Front for the Liberation of Palestine">Popular Front for the Liberation of Palestine</a>. They also claimed that the idea and funding came from an Arab president, widely thought to be <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Muammar_al-Gaddafi" class="mw-redirect" title="Muammar al-Gaddafi">Muammar al-Gaddafi</a> of Libya, itself an OPEC member. Fellow militants <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Bassam_Abu_Sharif" title="Bassam Abu Sharif">Bassam Abu Sharif</a> and Klein claimed that Carlos received and kept a ransom between US$20 million and US$50 million from "an Arab president". Carlos claimed that Saudi Arabia paid ransom on behalf of Iran, but that the money was "diverted en route and lost by the Revolution".<a href="#cite_note-jackal-43">[43]</a><a href="#cite_note-44">[44]</a> He was finally captured in 1994 and is serving life sentences for at least 16 other murders.<a href="#cite_note-45">[45]</a> <h3>1979–1980 oil crisis and 1980s oil glut[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=8" title="Edit section: 1979–1980 oil crisis and 1980s oil glut">edit</a>]</h3> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Opecrev.gif" class="image"><img alt="refer to caption" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Opecrev.gif/220px-Opecrev.gif" decoding="async" width="220" height="171" class="thumbimage" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Opecrev.gif/330px-Opecrev.gif 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Opecrev.gif/440px-Opecrev.gif 2x" data-file-width="1687" data-file-height="1310"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Opecrev.gif" class="internal" title="Enlarge"></a></div>Fluctuations of OPEC net oil export revenues since 1972<a href="#cite_note-46">[46]</a><a href="#cite_note-EIA2015-47">[47]</a></div></div></div> <div role="note" class="hatnote navigation-not-searchable">Main articles: <a href="/web/20200927210526/https://en.wikipedia.org/wiki/1979_oil_crisis" title="1979 oil crisis">1979 oil crisis</a> and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/1980s_oil_glut" title="1980s oil glut">1980s oil glut</a></div> In response to a wave of <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Oil_nationalization" class="mw-redirect" title="Oil nationalization">oil nationalizations</a> and the high prices of the 1970s, industrial nations took steps to reduce their dependence on OPEC oil, especially after prices reached new peaks approaching US$40/bbl in 1979–1980<a href="#cite_note-48">[48]</a><a href="#cite_note-49">[49]</a> when the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iranian_Revolution" title="Iranian Revolution">Iranian Revolution</a> and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iran%E2%80%93Iraq_War" title="Iran–Iraq War">Iran–Iraq War</a> disrupted regional stability and oil supplies. Electric utilities worldwide switched from oil to coal, natural gas, or nuclear power;<a href="#cite_note-50">[50]</a> national governments initiated multibillion-dollar research programs to develop alternatives to oil;<a href="#cite_note-51">[51]</a><a href="#cite_note-52">[52]</a> and commercial exploration developed major non-OPEC oilfields in Siberia, Alaska, the North Sea, and the Gulf of Mexico.<a href="#cite_note-53">[53]</a> By 1986, daily worldwide demand for oil dropped by 5 million barrels, non-OPEC production rose by an even-larger amount,<a href="#cite_note-Robert-54">[54]</a> and OPEC's market share sank from approximately 50 percent in 1979 to less than 30 percent in 1985.<a href="#cite_note-MarketShare-19">[19]</a> Illustrating the volatile multi-year timeframes of typical market cycles for natural resources, the result was a six-year decline in the price of oil, which culminated by plunging more than half in 1986 alone.<a href="#cite_note-55">[55]</a> As one oil analyst summarized succinctly: "When the price of something as essential as oil spikes, humanity does two things: finds more of it and finds ways to use less of it."<a href="#cite_note-MarketShare-19">[19]</a> To combat falling revenue from oil sales, in 1982 Saudi Arabia pressed OPEC for audited national <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Production_quota" title="Production quota">production quotas</a> in an attempt to limit output and boost prices. When other OPEC nations failed to comply, Saudi Arabia first slashed its own production from 10 million barrels daily in 1979–1981 to just one-third of that level in 1985. When even this proved ineffective, Saudi Arabia reversed course and flooded the market with cheap oil, causing prices to fall below US$10/bbl and higher-cost producers to become unprofitable.<a href="#cite_note-Robert-54">[54]</a><a href="#cite_note-Ali-56">[56]</a>:127–128,136–137 Faced with increasing economic hardship (which ultimately contributed to the collapse of the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Soviet_bloc" class="mw-redirect" title="Soviet bloc">Soviet bloc</a> in 1989),<a href="#cite_note-57">[57]</a><a href="#cite_note-58">[58]</a> the "<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Free_rider_problem" class="mw-redirect" title="Free rider problem">free-riding</a>" oil exporters that had previously failed to comply with OPEC agreements finally began to limit production to shore up prices, based on painstakingly negotiated national quotas that sought to balance oil-related and economic criteria since 1986.<a href="#cite_note-Robert-54">[54]</a><a href="#cite_note-Brief_History-59">[59]</a> (Within their sovereign-controlled territories, the national governments of OPEC members are able to impose production limits on both government-owned and private oil companies.)<a href="#cite_note-limit-60">[60]</a> Generally when OPEC production targets are reduced, oil prices increase.<a href="#cite_note-EIA_2014-61">[61]</a> <h3>1990–2003 ample supply and modest disruptions[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=9" title="Edit section: 1990–2003 ample supply and modest disruptions">edit</a>]</h3> <div role="note" class="hatnote navigation-not-searchable">See also: <a href="/web/20200927210526/https://en.wikipedia.org/wiki/1990_oil_price_shock" title="1990 oil price shock">1990 oil price shock</a></div> <div class="thumb tleft"><div class="thumbinner" style="width:312px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Kuwait_burn_oilfield.png" class="image"><img alt="refer to caption" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/78/Kuwait_burn_oilfield.png/310px-Kuwait_burn_oilfield.png" decoding="async" width="310" height="175" class="thumbimage" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/78/Kuwait_burn_oilfield.png/465px-Kuwait_burn_oilfield.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/78/Kuwait_burn_oilfield.png/620px-Kuwait_burn_oilfield.png 2x" data-file-width="1938" data-file-height="1095"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Kuwait_burn_oilfield.png" class="internal" title="Enlarge"></a></div>One of the hundreds of <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Kuwaiti_oil_fires" title="Kuwaiti oil fires">Kuwaiti oil fires</a> set by retreating Iraqi troops in 1991<a href="#cite_note-62">[62]</a></div></div></div> <div class="thumb tright"><div class="thumbinner" style="width:472px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Brent_crude_oil_price_1988-2015.svg" class="image"><img alt="refer to caption" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/af/Brent_crude_oil_price_1988-2015.svg/470px-Brent_crude_oil_price_1988-2015.svg.png" decoding="async" width="470" height="218" class="thumbimage" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/af/Brent_crude_oil_price_1988-2015.svg/705px-Brent_crude_oil_price_1988-2015.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/af/Brent_crude_oil_price_1988-2015.svg/940px-Brent_crude_oil_price_1988-2015.svg.png 2x" data-file-width="1130" data-file-height="523"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Brent_crude_oil_price_1988-2015.svg" class="internal" title="Enlarge"></a></div>Fluctuations of Brent crude oil price, 1988–2015<a href="#cite_note-Brent-63">[63]</a></div></div></div> <div style="clear:both;"></div> Leading up to his August 1990 <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Invasion_of_Kuwait" title="Invasion of Kuwait">Invasion of Kuwait</a>, Iraqi President <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Saddam_Hussein" title="Saddam Hussein">Saddam Hussein</a> was pushing OPEC to end overproduction and to send oil prices higher, in order to help OPEC members financially and to accelerate rebuilding from the 1980–1988 <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iran%E2%80%93Iraq_War" title="Iran–Iraq War">Iran–Iraq War</a>.<a href="#cite_note-64">[64]</a> But these two Iraqi wars against fellow OPEC founders marked a low point in the cohesion of the organization, and oil prices subsided quickly after the short-term supply disruptions. The September 2001 <a href="/web/20200927210526/https://en.wikipedia.org/wiki/September_11_attacks" title="September 11 attacks">Al Qaeda attacks on the US</a> and the March 2003 <a href="/web/20200927210526/https://en.wikipedia.org/wiki/US_invasion_of_Iraq" class="mw-redirect" title="US invasion of Iraq">US invasion of Iraq</a> had even milder short-term impacts on oil prices, as Saudi Arabia and other exporters again cooperated to keep the world adequately supplied.<a href="#cite_note-Brent-63">[63]</a> In the 1990s, OPEC lost its two newest members, who had joined in the mid-1970s. Ecuador withdrew in December 1992, because it was unwilling to pay the annual US$2 million membership fee and felt that it needed to produce more oil than it was allowed under the OPEC quota,<a href="#cite_note-Ecuador-65">[65]</a> although it rejoined in October 2007. Similar concerns prompted Gabon to suspend membership in January 1995;<a href="#cite_note-Gabon-66">[66]</a> it rejoined in July 2016.<a href="#cite_note-OPEC_Member-2">[2]</a> Iraq has remained a member of OPEC since the organization's founding, but Iraqi production was not a part of OPEC quota agreements from 1998 to 2016, due to the country's daunting political difficulties.<a href="#cite_note-ASB-67">[67]</a><a href="#cite_note-68">[68]</a> Lower demand triggered by the 1997–1998 <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Asian_financial_crisis" class="mw-redirect" title="Asian financial crisis">Asian financial crisis</a> saw the price of oil fall back to 1986 levels. After oil slumped to around US$10/bbl, joint diplomacy achieved a gradual slowing of oil production by OPEC, Mexico and Norway.<a href="#cite_note-69">[69]</a> After prices slumped again in Nov. 2001, OPEC, Norway, Mexico, Russia, Oman and Angola agreed to cut production on 1 Jan. 2002 for 6 months. OPEC contributed 1.5 million barrels a day (mbpd) to the approximately 2 mbpd of cuts announced.<a href="#cite_note-Ali-56">[56]</a> In June 2003, the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/International_Energy_Agency" title="International Energy Agency">International Energy Agency</a> (IEA) and OPEC held their first joint workshop on energy issues. They have continued to meet regularly since then, "to collectively better understand trends, analysis and viewpoints and advance market transparency and predictability."<a href="#cite_note-70">[70]</a> <h3>2003–2011 volatility[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=10" title="Edit section: 2003–2011 volatility">edit</a>]</h3> <div role="note" class="hatnote navigation-not-searchable">See also: <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Oil_price_increases_of_2003%E2%80%932008" class="mw-redirect" title="Oil price increases of 2003–2008">Oil price increases of 2003–2008</a></div> Widespread insurgency and sabotage occurred during the 2003–2008 height of the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/History_of_Iraq_(2003%E2%80%932011)#Sabotage" class="mw-redirect" title="History of Iraq (2003–2011)">American occupation of Iraq</a>, coinciding with rapidly increasing oil demand from <a href="/web/20200927210526/https://en.wikipedia.org/wiki/China" title="China">China</a> and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Commodity_market" title="Commodity market">commodity</a>-hungry investors, recurring <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Conflict_in_the_Niger_Delta" title="Conflict in the Niger Delta">violence against the Nigerian oil industry</a>, and dwindling spare capacity as a cushion against <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Peak_oil" title="Peak oil">potential shortages</a>. This combination of forces prompted a sharp rise in oil prices to levels far higher than those previously targeted by OPEC.<a href="#cite_note-71">[71]</a><a href="#cite_note-72">[72]</a><a href="#cite_note-73">[73]</a> Price volatility reached an extreme in 2008, as WTI crude oil surged to a record US$147/bbl in July and then plunged back to US$32/bbl in December, during the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Great_Recession" title="Great Recession">worst global recession since World War II</a>.<a href="#cite_note-74">[74]</a> OPEC's annual oil export revenue also set a new record in 2008, estimated around US$1 trillion, and reached similar annual rates in 2011–2014 (along with extensive <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petrodollar_recycling" title="Petrodollar recycling">petrodollar recycling</a> activity) before plunging again.<a href="#cite_note-EIA2015-47">[47]</a> By the time of the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/2011_Libyan_Civil_War" class="mw-redirect" title="2011 Libyan Civil War">2011 Libyan Civil War</a> and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Arab_Spring" title="Arab Spring">Arab Spring</a>, OPEC started issuing explicit statements to counter "excessive speculation" in oil <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Futures_markets" class="mw-redirect" title="Futures markets">futures markets</a>, blaming financial speculators for increasing volatility beyond market fundamentals.<a href="#cite_note-75">[75]</a> In May 2008, Indonesia announced that it would leave OPEC when its membership expired at the end of that year, having become a net importer of oil and being unable to meet its production quota.<a href="#cite_note-Indonesia-76">[76]</a> A statement released by OPEC on 10 September 2008 confirmed Indonesia's withdrawal, noting that OPEC "regretfully accepted the wish of Indonesia to suspend its full membership in the organization, and recorded its hope that the country would be in a position to rejoin the organization in the not-too-distant future."<a href="#cite_note-77">[77]</a> <h3>2008 production dispute[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=11" title="Edit section: 2008 production dispute">edit</a>]</h3> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Oil_Balance.png" class="image"><img alt="refer to caption" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/33/Oil_Balance.png/220px-Oil_Balance.png" decoding="async" width="220" height="100" class="thumbimage" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/33/Oil_Balance.png/330px-Oil_Balance.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/33/Oil_Balance.png/440px-Oil_Balance.png 2x" data-file-width="1800" data-file-height="820"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Oil_Balance.png" class="internal" title="Enlarge"></a></div>Countries by net oil exports (2008)</div></div></div> The differing economic needs of OPEC member states often affect the internal debates behind OPEC production quotas. Poorer members have pushed for production cuts from fellow members, to increase the price of oil and thus their own revenues.<a href="#cite_note-owen032010-78">[78]</a> These proposals conflict with Saudi Arabia's stated long-term strategy of being a partner with the world's economic powers to ensure a steady flow of oil that would support economic expansion.<a href="#cite_note-79">[79]</a> Part of the basis for this policy is the Saudi concern that overly expensive oil or unreliable supply will drive industrial nations to conserve energy and develop alternative fuels, curtailing the worldwide demand for oil and eventually leaving unneeded barrels in the ground.<a href="#cite_note-80">[80]</a> To this point, Saudi Oil Minister Yamani famously remarked in 1973: "The Stone Age didn't end because we ran out of stones."<a href="#cite_note-81">[81]</a> On 10 September 2008, with oil prices still near US$100/bbl, a production dispute occurred when the Saudis reportedly walked out of a negotiating session where rival members voted to reduce OPEC output. Although Saudi delegates officially endorsed the new quotas, they stated anonymously that they would not observe them. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/The_New_York_Times" title="The New York Times">The New York Times</a> quoted one such delegate as saying: "Saudi Arabia will meet the market's demand. We will see what the market requires and we will not leave a customer without oil. The policy has not changed."<a href="#cite_note-discordant-82">[82]</a> Over the next few months, oil prices plummeted into the $30s, and did not return to $100 until the Libyan Civil War in 2011.<a href="#cite_note-basketprice-83">[83]</a> <h3>2014–2017 oil glut[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=12" title="Edit section: 2014–2017 oil glut">edit</a>]</h3> <div role="note" class="hatnote navigation-not-searchable">See also: <a href="/web/20200927210526/https://en.wikipedia.org/wiki/2010s_oil_glut" title="2010s oil glut">2010s oil glut</a></div> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Countries_by_Oil_Production_in_2013.svg" class="image"><img alt="refer to caption" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f9/Countries_by_Oil_Production_in_2013.svg/220px-Countries_by_Oil_Production_in_2013.svg.png" decoding="async" width="220" height="101" class="thumbimage" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f9/Countries_by_Oil_Production_in_2013.svg/330px-Countries_by_Oil_Production_in_2013.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f9/Countries_by_Oil_Production_in_2013.svg/440px-Countries_by_Oil_Production_in_2013.svg.png 2x" data-file-width="863" data-file-height="396"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Countries_by_Oil_Production_in_2013.svg" class="internal" title="Enlarge"></a></div>Countries by oil production (2013)</div></div></div> <div class="thumb tleft"><div class="thumbinner" style="width:222px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Top_Oil_Producing_Countries.png" class="image"><img alt="refer to caption" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Top_Oil_Producing_Countries.png/220px-Top_Oil_Producing_Countries.png" decoding="async" width="220" height="239" class="thumbimage" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Top_Oil_Producing_Countries.png/330px-Top_Oil_Producing_Countries.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Top_Oil_Producing_Countries.png/440px-Top_Oil_Producing_Countries.png 2x" data-file-width="681" data-file-height="741"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Top_Oil_Producing_Countries.png" class="internal" title="Enlarge"></a></div>Top oil-producing countries<a href="#cite_note-84">[84]</a> (million barrels per day, 1973–2016)</div></div></div> <div style="clear:both;"></div> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Dammam_No._7_on_March_4,_1938.jpg" class="image"><img alt="refer to caption" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/c4/Dammam_No._7_on_March_4%2C_1938.jpg/220px-Dammam_No._7_on_March_4%2C_1938.jpg" decoding="async" width="220" height="264" class="thumbimage" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/c4/Dammam_No._7_on_March_4%2C_1938.jpg/330px-Dammam_No._7_on_March_4%2C_1938.jpg 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/c/c4/Dammam_No._7_on_March_4%2C_1938.jpg 2x" data-file-width="350" data-file-height="420"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Dammam_No._7_on_March_4,_1938.jpg" class="internal" title="Enlarge"></a></div>Gusher well in Saudi Arabia: conventional source of OPEC production</div></div></div> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Frac_job_in_process.JPG" class="image"><img alt="refer to caption" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/90/Frac_job_in_process.JPG/220px-Frac_job_in_process.JPG" decoding="async" width="220" height="165" class="thumbimage" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/90/Frac_job_in_process.JPG/330px-Frac_job_in_process.JPG 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/90/Frac_job_in_process.JPG/440px-Frac_job_in_process.JPG 2x" data-file-width="3072" data-file-height="2304"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Frac_job_in_process.JPG" class="internal" title="Enlarge"></a></div>Shale "fracking" in the US: important new challenge to OPEC market share</div></div></div> During 2014–2015, OPEC members consistently exceeded their production ceiling, and China experienced a slowdown in economic growth. At the same time, US oil production nearly doubled from 2008 levels and approached the world-leading "<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Swing_producer" title="Swing producer">swing producer</a>" volumes of Saudi Arabia and Russia, due to the substantial long-term improvement and spread of <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Tight_oil" title="Tight oil">shale</a> "<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Fracking" class="mw-redirect" title="Fracking">fracking</a>" technology in response to the years of record oil prices. These developments led in turn to a plunge in US oil import requirements (moving closer to <a href="/web/20200927210526/https://en.wikipedia.org/wiki/U.S._energy_independence" class="mw-redirect" title="U.S. energy independence">energy independence</a>), a record volume of worldwide oil <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Inventory" title="Inventory">inventories</a>, and a collapse in oil prices that continued into early 2016.<a href="#cite_note-basketprice-83">[83]</a><a href="#cite_note-85">[85]</a><a href="#cite_note-glut-86">[86]</a> In spite of global oversupply, on 27 November 2014 in Vienna, Saudi Oil Minister <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Ali_Al-Naimi" title="Ali Al-Naimi">Ali Al-Naimi</a> blocked appeals from poorer OPEC members for production cuts to support prices. Naimi argued that the oil market should be left to rebalance itself competitively at lower price levels, strategically rebuilding OPEC's long-term market share by ending the profitability of high-cost US shale oil production.<a href="#cite_note-PriceWar-87">[87]</a> As he explained in an interview:<a href="#cite_note-MEES-88">[88]</a> <blockquote>Is it reasonable for a highly efficient producer to reduce output, while the producer of poor efficiency continues to produce? That is crooked logic. If I reduce, what happens to my market share? The price will go up and the Russians, the Brazilians, US shale oil producers will take my share... We want to tell the world that high-efficiency producing countries are the ones that deserve market share. That is the operative principle in all capitalist countries... One thing is for sure: Current prices [roughly US$60/bbl] do not support all producers.</blockquote> A year later, when OPEC met in Vienna on 4 December 2015, the organization had exceeded its production ceiling for 18 consecutive months, US oil production had declined only slightly from its peak, world markets appeared to be oversupplied by at least 2 million barrels per day despite <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Libyan_Civil_War_(2014%E2%80%93present)" title="Libyan Civil War (2014–present)">war-torn Libya</a> pumping 1 million barrels below capacity, oil producers were making major adjustments to withstand prices as low as the $40s, Indonesia was rejoining the export organization, Iraqi production had surged after years of disorder, Iranian output was poised to rebound with the lifting of <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Sanctions_against_Iran" title="Sanctions against Iran">international sanctions</a>, hundreds of world leaders at the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Paris_Climate_Agreement" class="mw-redirect" title="Paris Climate Agreement">Paris Climate Agreement</a> were committing to limit carbon emissions from fossil fuels, and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Solar_power#Economics" title="Solar power">solar technologies</a> were becoming steadily more competitive and prevalent. In light of all these market pressures, OPEC decided to set aside its ineffective production ceiling until the next ministerial conference in June 2016.<a href="#cite_note-FT2015-89">[89]</a><a href="#cite_note-glut-86">[86]</a><a href="#cite_note-90">[90]</a><a href="#cite_note-91">[91]</a><a href="#cite_note-92">[92]</a><a href="#cite_note-93">[93]</a> By 20 January 2016, the OPEC Reference Basket was down to US$22.48/bbl – less than one-fourth of its high from June 2014 ($110.48), less than one-sixth of its record from July 2008 ($140.73), and back below the April 2003 starting point ($23.27) of its historic run-up.<a href="#cite_note-basketprice-83">[83]</a> As 2016 continued, the oil glut was partially trimmed with significant production offline in the US, Canada, Libya, Nigeria and China, and the basket price gradually rose back into the $40s. OPEC regained a modest percentage of market share, saw the cancellation of many competing drilling projects, maintained the status quo at its June conference, and endorsed "prices at levels that are suitable for both producers and consumers", although many producers were still experiencing serious economic difficulties.<a href="#cite_note-June2016-94">[94]</a><a href="#cite_note-95">[95]</a><a href="#cite_note-96">[96]</a><a href="#cite_note-97">[97]</a> <h3>2017–2020 production cut and OPEC+[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=13" title="Edit section: 2017–2020 production cut and OPEC+">edit</a>]</h3> As OPEC members grew weary of a multi-year supply-contest with <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Diminishing_returns" title="Diminishing returns">diminishing returns</a> and shrinking financial reserves, the organization finally attempted its first production cut since 2008. Despite many political obstacles, a September 2016 decision to trim approximately 1 million barrels per day was codified by a new quota-agreement at the November 2016 OPEC conference. The agreement (which exempted disruption-ridden members Libya and Nigeria) covered the first half of 2017 – alongside promised reductions from Russia and ten other non-members, offset by expected increases in the US shale-sector, Libya, Nigeria, <a href="#Spare_capacity">spare capacity</a>, and surging late-2016 OPEC production before the cuts took effect. Indonesia announced another "temporary suspension" of its OPEC membership rather than accepting the organization's requested 5-percent production-cut. Prices fluctuated around US$50/bbl, and in May 2017 OPEC decided to extend the new quotas through March 2018, with the world waiting to see if and how the oil-inventory glut might be fully siphoned-off by then.<a href="#cite_note-LeavingAgain-98">[98]</a><a href="#cite_note-99">[99]</a><a href="#cite_note-100">[100]</a><a href="#cite_note-101">[101]</a><a href="#cite_note-102">[102]</a><a href="#cite_note-103">[103]</a><a href="#cite_note-May2017Vienna-3">[3]</a> Longtime oil analyst <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Daniel_Yergin" title="Daniel Yergin">Daniel Yergin</a> "described the relationship between OPEC and shale as 'mutual coexistence', with both sides learning to live with prices that are lower than they would like."<a href="#cite_note-104">[104]</a> These production cut deals with non-OPEC countries are generally referred to as OPEC+.<a href="#cite_note-105">[105]</a><a href="#cite_note-106">[106]</a> In December 2017, Russia and OPEC agreed to extend the production cut of 1.8million barrels/day until the end of 2018.<a href="#cite_note-107">[107]</a><a href="#cite_note-108">[108]</a> Qatar announced it would withdraw from OPEC effective 1 January 2019.<a href="#cite_note-109">[109]</a> According to the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/New_York_Times" class="mw-redirect" title="New York Times">New York Times</a>, this constitutes a strategic response to the ongoing <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Qatar_diplomatic_crisis" title="Qatar diplomatic crisis">Qatar blockade</a> by <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/United_Arab_Emirates" title="United Arab Emirates">United Arab Emirates</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Bahrain" title="Bahrain">Bahrain</a>, and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Egypt" title="Egypt">Egypt</a>.<a href="#cite_note-110">[110]</a> On 29 June 2019, Russia again agreed with Saudi Arabia to extend by six to nine months the original production cuts of 2018.<a href="#cite_note-111">[111]</a> In October 2019 Ecuador announced it would withdraw from OPEC on January 1, 2020 due to financial problems facing the country.<a href="#cite_note-112">[112]</a> In December 2019 OPEC and Russia agreed one of the deepest output cuts so far to prevent oversupply in a deal that will last for the first three months of 2020.<a href="#cite_note-113">[113]</a> <h3>2020 Saudi-Russian price war[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=14" title="Edit section: 2020 Saudi-Russian price war">edit</a>]</h3> <div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/web/20200927210526/https://en.wikipedia.org/wiki/2020_Russia%E2%80%93Saudi_Arabia_oil_price_war" title="2020 Russia–Saudi Arabia oil price war">2020 Russia–Saudi Arabia oil price war</a></div> In early March 2020, OPEC officials presented an ultimatum to Russia to cut production by 1.5% of world supply. Russia, which foresaw continuing cuts as American <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Shale_oil" title="Shale oil">shale oil</a> production increased, rejected the demand, ending the three-year partnership between OPEC and major non-OPEC providers.<a href="#cite_note-NYT_9March2020-114">[114]</a> Another factor was <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Economic_impact_of_the_COVID-19_pandemic" title="Economic impact of the COVID-19 pandemic">weakening global demand</a> resulting from the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/COVID-19_pandemic" title="COVID-19 pandemic">COVID-19 pandemic</a>.<a href="#cite_note-115">[115]</a> This also resulted in 'OPEC plus' failing to extend the agreement cutting 2.1 million barrels per day that was set to expire at the end of March. Saudi Arabia, which has absorbed a disproportionate amount of the cuts to convince Russia to stay in the agreement, notified its buyers on 7 March that they would raise output and discount their oil in April. This prompted a Brent crude price crash of more than 30% before a slight recovery and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Black_Monday_(2020)" class="mw-redirect" title="Black Monday (2020)">widespread turmoil in financial markets</a>.<a href="#cite_note-NYT_9March2020-114">[114]</a> Several pundits saw this as a <a href="/web/20200927210526/https://en.wikipedia.org/wiki/2020_Russia%E2%80%93Saudi_Arabia_oil_price_war" title="2020 Russia–Saudi Arabia oil price war">Saudi-Russian price war</a>, or <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Game_of_chicken" class="mw-redirect" title="Game of chicken">game of chicken</a> which cause the "other side to blink first".<a href="#cite_note-ergm-116">[116]</a><a href="#cite_note-trdt-117">[117]</a><a href="#cite_note-ptfp-118">[118]</a><a href="#cite_note-npfp-119">[119]</a> Saudi Arabia had in March 2020 $500 billion of foreign exchange reserves, while at that time Russia's reserves were $580 billion. The <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Debt-to-GDP_ratio" title="Debt-to-GDP ratio">debt-to-GDP ratio</a> of the Saudis was 25%, while the Russian ratio was 15%.<a href="#cite_note-ergm-116">[116]</a> Another remarked that the Saudis can produce oil at as low a price as $3 per barrel, whereas Russia needs $30 per barrel to cover production costs.<a href="#cite_note-npfp-119">[119]</a> Another analyst claims that "it’s about assaulting the Western economy, especially America’s."<a href="#cite_note-ptfp-118">[118]</a> In order to ward of from the oil exporters price war which can make shale oil production uneconomical, US may protect its crude oil market share by passing the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/NOPEC" class="mw-redirect" title="NOPEC">NOPEC</a> bill.<a href="#cite_note-120">[120]</a> In April 2020, OPEC and a group of other oil producers, including <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Russia" title="Russia">Russia</a>, agreed to extend production cuts until the end of July. The cartel and its allies agreed to cut oil production in May and June by 9.7 million barrels a day, equal to around 10% of global output, in an effort to prop up prices, which had previously <a href="/web/20200927210526/https://en.wikipedia.org/wiki/2020_Russia%E2%80%93Saudi_Arabia_oil_price_war" title="2020 Russia–Saudi Arabia oil price war">fallen to record lows</a>.<a href="#cite_note-121">[121]</a> <div style="clear:both;"></div> <h2>Membership[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=15" title="Edit section: Membership">edit</a>]</h2> <div style="clear:left;"></div> <h3>Current member countries[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=16" title="Edit section: Current member countries">edit</a>]</h3> As of January 2020, OPEC has 13 member countries: five in the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Middle_East" title="Middle East">Middle East</a> (<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Western_Asia" title="Western Asia">Western Asia</a>), seven in <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Africa" title="Africa">Africa</a>, and one in <a href="/web/20200927210526/https://en.wikipedia.org/wiki/South_America" title="South America">South America</a>. According to the U.S. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Energy_Information_Administration" title="Energy Information Administration">Energy Information Administration</a> (EIA), OPEC's combined rate of oil production (including <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Natural-gas_condensate" title="Natural-gas condensate">gas condensate</a>) represented 44 percent of the world's total in 2016,<a href="#cite_note-EIA_Production-122">[122]</a> and OPEC accounted for 81.5 percent of the world's "proven" oil reserves. Approval of a new member country requires agreement by three-quarters of OPEC's existing members, including all five of the founders.<a href="#cite_note-statute-123">[123]</a> In October 2015, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Sudan" title="Sudan">Sudan</a> formally submitted an application to join,<a href="#cite_note-124">[124]</a> but it is not yet a member. Qatar left OPEC on 1 January 2019, after joining the organization in 1961, to focus on <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Natural_gas" title="Natural gas">natural gas</a> production, of which it is the world's largest exporter in the form of <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Liquefied_natural_gas" title="Liquefied natural gas">liquified natural gas</a> (LNG).<a href="#cite_note-qtrleave-125">[125]</a><a href="#cite_note-126">[126]</a> Ecuador announced that it would leave OPEC on 1 January 2020.<a href="#cite_note-eqrleave-127">[127]</a> Ecuador's Ministry of Energy and Non-Renewable Natural Resources released an official statement on 2 January 2020 which confirmed that Ecuador had left OPEC,<a href="#cite_note-EcuadorExitStatement20200102-4">[4]</a> though it was still listed as a member state on OPEC's website as of 7 January.<a href="#cite_note-OPEC_Member-2">[2]</a> <table class="wikitable sortable"> <tbody><tr> <th style="width:155px;">Country </th> <th style="width:90px;">Region </th> <th style="width:110px;">Membership Years<a href="#cite_note-OPEC_Member-2">[2]</a><a href="#cite_note-May2017Vienna-3">[3]</a> </th> <th style="width:90px;">Population (2018 est.)<a href="#cite_note-UN_WPP-128">[128]</a><a href="#cite_note-UN_WPP_2019-129">[129]</a> </th> <th style="width:70px;">Area (km2)<a href="#cite_note-CIA_Area-130">[130]</a> </th> <th style="width:115px;" data-sort-type="number"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_oil_production" title="List of countries by oil production">Oil Production</a> (bbl/day, 2016)<a href="#cite_note-bbl-131">[A]</a><a href="#cite_note-EIA_Production-122">[122]</a> </th> <th style="width:125px;" data-sort-type="number"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves" title="List of countries by proven oil reserves">Proven Reserves</a> (<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Barrel_(unit)" title="Barrel (unit)">bbl</a>, 2016)<a href="#cite_note-bbl-131">[A]</a><a href="#cite_note-EIA_Reserves-132">[131]</a> </th></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/23px-Flag_of_Algeria.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/35px-Flag_of_Algeria.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/45px-Flag_of_Algeria.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Algeria" title="Algeria">Algeria</a> </td> <td>North Africa </td> <td>1969– </td> <td align="right">42,228,408 </td> <td align="right">2,381,740 </td> <td align="right">1,348,361 </td> <td align="right">12,200,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/23px-Flag_of_Angola.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/35px-Flag_of_Angola.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/45px-Flag_of_Angola.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Angola" title="Angola">Angola</a> </td> <td>Southern Africa </td> <td>2007– </td> <td align="right">30,809,787 </td> <td align="right">1,246,700 </td> <td align="right">1,769,615 </td> <td align="right">8,423,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/23px-Flag_of_Equatorial_Guinea.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/35px-Flag_of_Equatorial_Guinea.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/45px-Flag_of_Equatorial_Guinea.svg.png 2x" data-file-width="1200" data-file-height="800"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Equatorial_Guinea" title="Equatorial Guinea">Equatorial Guinea</a> </td> <td>Central Africa </td> <td>2017– </td> <td align="right">1,308,975 </td> <td align="right">28,050 </td> <td align="right">... </td> <td align="right">... </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/20px-Flag_of_Gabon.svg.png" decoding="async" width="20" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/31px-Flag_of_Gabon.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/40px-Flag_of_Gabon.svg.png 2x" data-file-width="1000" data-file-height="750"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gabon" title="Gabon">Gabon</a> </td> <td>Central Africa </td> <td>1975–1995, 2016– </td> <td align="right">2,119,275 </td> <td align="right">267,667 </td> <td align="right">210,820 </td> <td align="right">2,000,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/23px-Flag_of_Iran.svg.png" decoding="async" width="23" height="13" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/35px-Flag_of_Iran.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/46px-Flag_of_Iran.svg.png 2x" data-file-width="630" data-file-height="360"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iran" title="Iran">Iran</a> </td> <td><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Middle_East" title="Middle East">Middle East</a> </td> <td>1960<a href="#cite_note-Founder-133">[B]</a>– </td> <td align="right">81,800,188 </td> <td align="right">1,648,000 </td> <td align="right">3,990,956 </td> <td align="right">157,530,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/23px-Flag_of_Iraq.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/35px-Flag_of_Iraq.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/45px-Flag_of_Iraq.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iraq" title="Iraq">Iraq</a> </td> <td>Middle East </td> <td>1960<a href="#cite_note-Founder-133">[B]</a>– </td> <td align="right">38,433,600 </td> <td align="right">437,072 </td> <td align="right">4,451,516 </td> <td align="right">143,069,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/23px-Flag_of_Kuwait.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/35px-Flag_of_Kuwait.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/46px-Flag_of_Kuwait.svg.png 2x" data-file-width="1200" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Kuwait" title="Kuwait">Kuwait</a> </td> <td>Middle East </td> <td>1960<a href="#cite_note-Founder-133">[B]</a>– </td> <td align="right">4,137,312 </td> <td align="right">17,820 </td> <td align="right">2,923,825 </td> <td align="right">101,500,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/23px-Flag_of_Libya.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/35px-Flag_of_Libya.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/46px-Flag_of_Libya.svg.png 2x" data-file-width="960" data-file-height="480"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Libya" title="Libya">Libya</a> </td> <td>North Africa </td> <td>1962– </td> <td align="right">6,678,559 </td> <td align="right">1,759,540 </td> <td align="right">384,686 </td> <td align="right">48,363,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/23px-Flag_of_Nigeria.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/35px-Flag_of_Nigeria.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/46px-Flag_of_Nigeria.svg.png 2x" data-file-width="1200" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Nigeria" title="Nigeria">Nigeria</a> </td> <td>West Africa </td> <td>1971– </td> <td align="right">195,874,685 </td> <td align="right">923,768 </td> <td align="right">1,999,885 </td> <td align="right">37,070,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/23px-Flag_of_the_Republic_of_the_Congo.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/35px-Flag_of_the_Republic_of_the_Congo.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/45px-Flag_of_the_Republic_of_the_Congo.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Republic_of_the_Congo" title="Republic of the Congo">Republic of the Congo</a> </td> <td>Central Africa </td> <td>2018<a href="#cite_note-134">[132]</a>– </td> <td align="right">5,125,821 </td> <td align="right">342,000 </td> <td align="right">260,000 </td> <td align="right">1,600,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/23px-Flag_of_Saudi_Arabia.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/35px-Flag_of_Saudi_Arabia.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/45px-Flag_of_Saudi_Arabia.svg.png 2x" data-file-width="750" data-file-height="500"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a> </td> <td>Middle East </td> <td>1960<a href="#cite_note-Founder-133">[B]</a>– </td> <td align="right">33,702,756 </td> <td align="right">2,149,690 </td> <td align="right">10,460,710 </td> <td align="right">266,578,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/23px-Flag_of_the_United_Arab_Emirates.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/35px-Flag_of_the_United_Arab_Emirates.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/46px-Flag_of_the_United_Arab_Emirates.svg.png 2x" data-file-width="1200" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/United_Arab_Emirates" title="United Arab Emirates">United Arab Emirates</a> </td> <td>Middle East </td> <td>1967<a href="#cite_note-UAE-135">[C]</a>– </td> <td align="right">9,630,959 </td> <td align="right">83,600 </td> <td align="right">3,106,077 </td> <td align="right">97,800,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/23px-Flag_of_Venezuela.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/35px-Flag_of_Venezuela.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/45px-Flag_of_Venezuela.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Venezuela" title="Venezuela">Venezuela</a> </td> <td>South America </td> <td>1960<a href="#cite_note-Founder-133">[B]</a>– </td> <td align="right">28,887,118 </td> <td align="right">912,050 </td> <td align="right">2,276,967 </td> <td align="right">299,953,000,000 </td></tr> <tr class="sortbottom"> <th colspan="3">OPEC Total </th> <th>483,630,000 </th> <th>12,492,695 </th> <th>35,481,740 </th> <th>1,210,703,000,000 </th></tr> <tr> <th colspan="3">World Total </th> <th>7,816,122,000 </th> <th>510,072,000 </th> <th>80,622,287<a href="#cite_note-136">[133]</a> </th> <th>1,650,585,000,000 </th></tr> <tr> <th colspan="3">OPEC Percent </th> <th>6.3% </th> <th>2.4% </th> <th>44% </th> <th>73% </th></tr></tbody></table> <div class="reflist" style="list-style-type: upper-alpha;"> <div class="mw-references-wrap"><ol class="references"> <li id="cite_note-bbl-131">^ <a href="#cite_ref-bbl_131-0">a</a> <a href="#cite_ref-bbl_131-1">b</a> One petroleum barrel (<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Barrel_(unit)" title="Barrel (unit)">bbl</a>) is approximately 42 U.S. gallons, or 159 liters, or 0.159 m3, varying slightly with temperature. To put the production numbers in context, a <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Oil_tanker#Size_categories" title="Oil tanker">supertanker</a> typically holds 2,000,000 barrels (320,000 m3),<a href="#cite_note-137">[134]</a> and the world's current production rate would take approximately 56 years to exhaust the world's current proven reserves. </li> <li id="cite_note-Founder-133">^ <a href="#cite_ref-Founder_133-0">a</a> <a href="#cite_ref-Founder_133-1">b</a> <a href="#cite_ref-Founder_133-2">c</a> <a href="#cite_ref-Founder_133-3">d</a> <a href="#cite_ref-Founder_133-4">e</a> The five founding members attended the first OPEC conference in September 1960. </li> <li id="cite_note-UAE-135"><a href="#cite_ref-UAE_135-0">^</a> The UAE was founded in December 1971. Its OPEC membership originated with the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Emirate_of_Abu_Dhabi" title="Emirate of Abu Dhabi">Emirate of Abu Dhabi</a>. </li> </ol></div></div> <h3>Lapsed members[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=17" title="Edit section: Lapsed members">edit</a>]</h3> <table class="wikitable sortable"> <tbody><tr> <th style="width:155px;">Country </th> <th style="width:90px;">Region </th> <th style="width:110px;">Membership Years<a href="#cite_note-OPEC_Member-2">[2]</a> </th> <th style="width:90px;">Population (2018 est.)<a href="#cite_note-UN_WPP-128">[128]</a><a href="#cite_note-UN_WPP_2019-129">[129]</a> </th> <th style="width:70px;">Area (km2)<a href="#cite_note-CIA_Area-130">[130]</a> </th> <th style="width:115px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_oil_production" title="List of countries by oil production">Oil Production</a> (<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Barrel_(unit)" title="Barrel (unit)">bbl</a>/day, 2016)<a href="#cite_note-EIA_Production-122">[122]</a> </th> <th style="width:125px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves" title="List of countries by proven oil reserves">Proven Reserves</a> (bbl, 2016)<a href="#cite_note-EIA_Reserves-132">[131]</a> </th></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Flag_of_Ecuador.svg/23px-Flag_of_Ecuador.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Flag_of_Ecuador.svg/35px-Flag_of_Ecuador.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Flag_of_Ecuador.svg/45px-Flag_of_Ecuador.svg.png 2x" data-file-width="1440" data-file-height="960"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Ecuador" title="Ecuador">Ecuador</a> </td> <td>South America </td> <td>1973–1992, 2007–2020<a href="#cite_note-EcuadorExitStatement20200102-4">[4]</a> </td> <td align="right">17,084,358 </td> <td align="right">283,560 </td> <td align="right">548,421 </td> <td align="right">8,273,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Indonesia.svg/23px-Flag_of_Indonesia.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Indonesia.svg/35px-Flag_of_Indonesia.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Indonesia.svg/45px-Flag_of_Indonesia.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Indonesia" title="Indonesia">Indonesia</a> </td> <td>Southeast Asia </td> <td>1962–2008, Jan–Nov 2016 </td> <td align="right">267,670,543 </td> <td align="right">1,904,569 </td> <td align="right">833,667 </td> <td align="right">3,692,500,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/65/Flag_of_Qatar.svg/23px-Flag_of_Qatar.svg.png" decoding="async" width="23" height="9" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/65/Flag_of_Qatar.svg/35px-Flag_of_Qatar.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/65/Flag_of_Qatar.svg/46px-Flag_of_Qatar.svg.png 2x" data-file-width="1400" data-file-height="550"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Qatar" title="Qatar">Qatar</a> </td> <td>Middle East </td> <td>1961–2019<a href="#cite_note-qtrleave-125">[125]</a> </td> <td align="right">2,781,682 </td> <td align="right">11,437 </td> <td align="right">1,522,902 </td> <td align="right">25,244,000,000 </td></tr> </tbody></table> For countries that export petroleum at relatively low volume, their limited negotiating power as OPEC members would not necessarily justify the burdens imposed by OPEC <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Production_quota" title="Production quota">production quotas</a> and membership costs. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Ecuador" title="Ecuador">Ecuador</a> withdrew from OPEC in December 1992, because it was unwilling to pay the annual US$2 million membership fee and felt that it needed to produce more oil than it was allowed under its OPEC quota at the time,<a href="#cite_note-Ecuador-65">[65]</a> then rejoined in October 2007 before leaving again in January 2020.<a href="#cite_note-EcuadorExitStatement20200102-4">[4]</a> Similar concerns prompted <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gabon" title="Gabon">Gabon</a> to suspend membership in January 1995;<a href="#cite_note-Gabon-66">[66]</a> it rejoined in July 2016. In May 2008, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Indonesia" title="Indonesia">Indonesia</a> announced that it would leave OPEC when its membership expired at the end of that year, having become a net importer of oil and being unable to meet its production quota.<a href="#cite_note-Indonesia-76">[76]</a> It rejoined the organization in January 2016,<a href="#cite_note-OPEC_Member-2">[2]</a> but announced another "temporary suspension" of its membership at year-end when OPEC requested a 5 percent production cut.<a href="#cite_note-LeavingAgain-98">[98]</a> Some commentators consider that the United States was a <a href="/web/20200927210526/https://en.wikipedia.org/wiki/De_facto" title="De facto">de facto</a> member of OPEC during its formal <a href="/web/20200927210526/https://en.wikipedia.org/wiki/History_of_Iraq_(2003%E2%80%932011)" class="mw-redirect" title="History of Iraq (2003–2011)">occupation of Iraq</a>, due to its leadership of the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Coalition_Provisional_Authority" title="Coalition Provisional Authority">Coalition Provisional Authority</a> in 2003–2004.<a href="#cite_note-138">[135]</a><a href="#cite_note-139">[136]</a> But this is not borne out by the minutes of OPEC meetings, as no US representative attended in an official capacity.<a href="#cite_note-140">[137]</a><a href="#cite_note-141">[138]</a> <h3>OPEC+ members[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=18" title="Edit section: OPEC+ members">edit</a>]</h3> In addition to the OPEC members, the following 10 additional oil exporting countries, led by Russia, are grouped as OPEC+ cartel from the year 2016 as they cooperate in fixing the global crude oil prices by agreeing to production quotas so that global production is below the global demand/consumption.<a href="#cite_note-142">[139]</a><a href="#cite_note-143">[140]</a> OPEC+ countries encourage unnecessary excess capital investment in the global oil sector instead of encouraging their cheaper oil production at lower capital investment.<a href="#cite_note-144">[141]</a><a href="#cite_note-145">[142]</a> <table class="wikitable"> <caption>OPEC+ countries excluding OPEC </caption> <tbody><tr> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/en/thumb/f/f3/Flag_of_Russia.svg/23px-Flag_of_Russia.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/en/thumb/f/f3/Flag_of_Russia.svg/35px-Flag_of_Russia.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/en/thumb/f/f3/Flag_of_Russia.svg/45px-Flag_of_Russia.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Russia" title="Russia">Russia</a></td> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Flag_of_Azerbaijan.svg/23px-Flag_of_Azerbaijan.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Flag_of_Azerbaijan.svg/35px-Flag_of_Azerbaijan.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Flag_of_Azerbaijan.svg/46px-Flag_of_Azerbaijan.svg.png 2x" data-file-width="1200" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Azerbaijan" title="Azerbaijan">Azerbaijan</a></td> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/2/2c/Flag_of_Bahrain.svg/23px-Flag_of_Bahrain.svg.png" decoding="async" width="23" height="14" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/2/2c/Flag_of_Bahrain.svg/35px-Flag_of_Bahrain.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/2/2c/Flag_of_Bahrain.svg/46px-Flag_of_Bahrain.svg.png 2x" data-file-width="1500" data-file-height="900"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Bahrain" title="Bahrain">Bahrain</a></td> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Flag_of_Brunei.svg/23px-Flag_of_Brunei.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Flag_of_Brunei.svg/35px-Flag_of_Brunei.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Flag_of_Brunei.svg/46px-Flag_of_Brunei.svg.png 2x" data-file-width="1440" data-file-height="720"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Brunei" title="Brunei">Brunei</a></td> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Flag_of_Kazakhstan.svg/23px-Flag_of_Kazakhstan.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Flag_of_Kazakhstan.svg/35px-Flag_of_Kazakhstan.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Flag_of_Kazakhstan.svg/46px-Flag_of_Kazakhstan.svg.png 2x" data-file-width="1000" data-file-height="500"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Kazakhstan" title="Kazakhstan">Kazakhstan</a></td> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/66/Flag_of_Malaysia.svg/23px-Flag_of_Malaysia.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/66/Flag_of_Malaysia.svg/35px-Flag_of_Malaysia.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/66/Flag_of_Malaysia.svg/46px-Flag_of_Malaysia.svg.png 2x" data-file-width="1200" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Malaysia" title="Malaysia">Malaysia</a></td> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/fc/Flag_of_Mexico.svg/23px-Flag_of_Mexico.svg.png" decoding="async" width="23" height="13" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/fc/Flag_of_Mexico.svg/35px-Flag_of_Mexico.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/fc/Flag_of_Mexico.svg/46px-Flag_of_Mexico.svg.png 2x" data-file-width="980" data-file-height="560"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Mexico" title="Mexico">Mexico</a></td> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Flag_of_Oman.svg/23px-Flag_of_Oman.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Flag_of_Oman.svg/35px-Flag_of_Oman.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Flag_of_Oman.svg/46px-Flag_of_Oman.svg.png 2x" data-file-width="1200" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Oman" title="Oman">Oman</a></td> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/7a/Flag_of_South_Sudan.svg/23px-Flag_of_South_Sudan.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/7a/Flag_of_South_Sudan.svg/35px-Flag_of_South_Sudan.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/7a/Flag_of_South_Sudan.svg/46px-Flag_of_South_Sudan.svg.png 2x" data-file-width="1000" data-file-height="500"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/South_Sudan" title="South Sudan">South Sudan</a></td> <td><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/01/Flag_of_Sudan.svg/23px-Flag_of_Sudan.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/01/Flag_of_Sudan.svg/35px-Flag_of_Sudan.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/01/Flag_of_Sudan.svg/46px-Flag_of_Sudan.svg.png 2x" data-file-width="1200" data-file-height="600"/> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Sudan" title="Sudan">Sudan</a> </td></tr></tbody></table> <h3>Observers[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=19" title="Edit section: Observers">edit</a>]</h3> Since the 1980s, representatives from <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Egypt" title="Egypt">Egypt</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Mexico" title="Mexico">Mexico</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Norway" title="Norway">Norway</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Oman" title="Oman">Oman</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Russia" title="Russia">Russia</a>, and other oil-exporting nations have attended many OPEC meetings as observers. This arrangement serves as an informal mechanism for coordinating policies.<a href="#cite_note-observers-21">[21]</a> <h3>Vienna Group[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=20" title="Edit section: Vienna Group">edit</a>]</h3> A number of non-OPEC member countries also participate in the organisation's initiatives such as voluntary supply cuts in order to further bind policy objectives between OPEC and non-OPEC members.<a href="#cite_note-ope-5">[5]</a> This loose grouping of countries includes: <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Azerbaijan" title="Azerbaijan">Azerbaijan</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Bahrain" title="Bahrain">Bahrain</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Brunei" title="Brunei">Brunei</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Kazakhstan" title="Kazakhstan">Kazakhstan</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Malaysia" title="Malaysia">Malaysia</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Mexico" title="Mexico">Mexico</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Oman" title="Oman">Oman</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Russia" title="Russia">Russia</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Sudan" title="Sudan">Sudan</a> and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/South_Sudan" title="South Sudan">South Sudan</a>.<a href="#cite_note-146">[143]</a> <h3>Leadership and decision-making[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=21" title="Edit section: Leadership and decision-making">edit</a>]</h3> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_(5251965558).jpg" class="image"><img alt="refer to caption" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/6e/158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_%285251965558%29.jpg/220px-158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_%285251965558%29.jpg" decoding="async" width="220" height="87" class="thumbimage" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/6e/158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_%285251965558%29.jpg/330px-158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_%285251965558%29.jpg 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/6e/158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_%285251965558%29.jpg/440px-158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_%285251965558%29.jpg 2x" data-file-width="1000" data-file-height="394"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_(5251965558).jpg" class="internal" title="Enlarge"></a></div>OPEC Conference delegates at <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Swissotel" class="mw-redirect" title="Swissotel">Swissotel</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Quito" title="Quito">Quito</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Ecuador" title="Ecuador">Ecuador</a>, December 2010</div></div></div> <div role="note" class="hatnote navigation-not-searchable">See also: <a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_Secretaries_General_of_OPEC" title="List of Secretaries General of OPEC">List of Secretaries General of OPEC</a></div> The OPEC Conference is the supreme authority of the organization, and consists of delegations normally headed by the oil ministers of member countries. The chief executive of the organization is the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_Secretaries_General_of_OPEC" title="List of Secretaries General of OPEC">OPEC Secretary General</a>. The Conference ordinarily meets at the Vienna headquarters, at least twice a year and in additional extraordinary sessions when necessary. It generally operates on the principles of unanimity and "one member, one vote", with each country paying an equal membership fee into the annual budget.<a href="#cite_note-statute-123">[123]</a> However, since Saudi Arabia is by far the largest and most-profitable oil exporter in the world, with enough capacity to function as the traditional <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Swing_producer" title="Swing producer">swing producer</a> to balance the global market, it serves as "OPEC's de facto leader".<a href="#cite_note-FT2015-89">[89]</a> <h3>International cartel[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=22" title="Edit section: International cartel">edit</a>]</h3> At various times, OPEC members have displayed apparent anti-competitive <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Cartel" title="Cartel">cartel</a> behavior through the organization's agreements about oil production and price levels.<a href="#cite_note-147">[144]</a> In fact, economists often cite OPEC as a textbook example of a cartel that cooperates to reduce market competition, as in this definition from <a href="/web/20200927210526/https://en.wikipedia.org/wiki/OECD" title="OECD">OECD</a>'s Glossary of Industrial Organisation Economics and Competition Law:<a href="#cite_note-cartel-1">[1]</a> <blockquote>International commodity agreements covering products such as coffee, sugar, tin and more recently oil (OPEC: Organization of Petroleum Exporting Countries) are examples of international cartels which have publicly entailed agreements between different national governments.</blockquote> OPEC members strongly prefer to describe their organization as a modest force for market stabilization, rather than a powerful anti-competitive cartel. In its defense, the organization was founded as a counterweight against the previous "<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Seven_Sisters_(oil_companies)" title="Seven Sisters (oil companies)">Seven Sisters</a>" cartel of multinational oil companies, and non-OPEC energy suppliers have maintained enough market share for a substantial degree of worldwide competition.<a href="#cite_note-148">[145]</a> Moreover, because of an economic "<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Prisoner%27s_dilemma" title="Prisoner's dilemma">prisoner's dilemma</a>" that encourages each member nation individually to discount its price and exceed its production quota,<a href="#cite_note-149">[146]</a> widespread cheating within OPEC often erodes its ability to influence global oil prices through <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Collective_action_problem" title="Collective action problem">collective action</a>.<a href="#cite_note-150">[147]</a><a href="#cite_note-151">[148]</a> OPEC has not been involved in any disputes related to the competition rules of the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/World_Trade_Organization" title="World Trade Organization">World Trade Organization</a>, even though the objectives, actions, and principles of the two organizations diverge considerably.<a href="#cite_note-152">[149]</a> A key US District Court decision held that OPEC consultations are protected as "governmental" acts of state by the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Foreign_Sovereign_Immunities_Act" title="Foreign Sovereign Immunities Act">Foreign Sovereign Immunities Act</a>, and are therefore beyond the legal reach of US <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Competition_law" title="Competition law">competition law</a> governing "commercial" acts.<a href="#cite_note-153">[150]</a><a href="#cite_note-154">[151]</a> Despite popular sentiment against OPEC, legislative proposals to limit the organization's sovereign immunity, such as the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/NOPEC" class="mw-redirect" title="NOPEC">NOPEC</a> Act, have so far been unsuccessful.<a href="#cite_note-155">[152]</a> <h3>Conflicts[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=23" title="Edit section: Conflicts">edit</a>]</h3> OPEC often has difficulty agreeing on policy decisions because its member countries differ widely in their oil export capacities, production costs, reserves, geological features, population, economic development, budgetary situations, and political circumstances.<a href="#cite_note-MEES-88">[88]</a><a href="#cite_note-discordant-82">[82]</a> Indeed, over the course of market cycles, oil reserves can themselves become a source of serious conflict, instability and imbalances, in what economists call the "<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Resource_curse#Political_effects" title="Resource curse">natural resource curse</a>".<a href="#cite_note-156">[153]</a><a href="#cite_note-157">[154]</a> A further complication is that <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Religious_war" title="Religious war">religion-linked</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_conflicts_in_the_Middle_East" class="mw-redirect" title="List of conflicts in the Middle East">conflicts in the Middle East</a> are recurring features of the geopolitical landscape for this oil-rich region.<a href="#cite_note-158">[155]</a><a href="#cite_note-159">[156]</a> Internationally important conflicts in OPEC's history have included the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Six-Day_War" title="Six-Day War">Six-Day War</a> (1967), <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Yom_Kippur_War" title="Yom Kippur War">Yom Kippur War</a> (1973), a <a href="/web/20200927210526/https://en.wikipedia.org/wiki/OPEC_siege" title="OPEC siege">hostage siege directed by Palestinian militants</a> (1975), the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iranian_Revolution" title="Iranian Revolution">Iranian Revolution</a> (1979), <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iran%E2%80%93Iraq_War" title="Iran–Iraq War">Iran–Iraq War</a> (1980–1988), <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gulf_War" title="Gulf War">Iraqi occupation of Kuwait</a> (1990–1991), <a href="/web/20200927210526/https://en.wikipedia.org/wiki/September_11_attacks" title="September 11 attacks">September 11 attacks</a> by mostly Saudi hijackers (2001), <a href="/web/20200927210526/https://en.wikipedia.org/wiki/History_of_Iraq_(2003%E2%80%932011)" class="mw-redirect" title="History of Iraq (2003–2011)">American occupation of Iraq</a> (2003–2011), <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Conflict_in_the_Niger_Delta" title="Conflict in the Niger Delta">Conflict in the Niger Delta</a> (2004–present), <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Arab_Spring" title="Arab Spring">Arab Spring</a> (2010–2012), <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Libyan_Crisis" class="mw-redirect" title="Libyan Crisis">Libyan Crisis</a> (2011–present), and international <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Embargo_against_Iran" class="mw-redirect" title="Embargo against Iran">Embargo against Iran</a> (2012–2016). Although events such as these can temporarily disrupt oil supplies and elevate prices, the frequent disputes and instabilities tend to limit OPEC's long-term cohesion and effectiveness.<a href="#cite_note-160">[157]</a> <h2>Market information[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=24" title="Edit section: Market information">edit</a>]</h2> As one area in which OPEC members have been able to cooperate productively over the decades, the organization has significantly improved the quality and quantity of information available about the international oil market. This is especially helpful for a natural-resource industry whose smooth functioning requires months and years of careful planning. <h3>Publications and research[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=25" title="Edit section: Publications and research">edit</a>]</h3> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Jodi-circle-logo.png" class="image"><img alt="refer to caption" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Jodi-circle-logo.png/220px-Jodi-circle-logo.png" decoding="async" width="220" height="220" class="thumbimage" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Jodi-circle-logo.png/330px-Jodi-circle-logo.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Jodi-circle-logo.png/440px-Jodi-circle-logo.png 2x" data-file-width="1042" data-file-height="1042"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Jodi-circle-logo.png" class="internal" title="Enlarge"></a></div>Logo for <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Joint_Organisations_Data_Initiative" title="Joint Organisations Data Initiative">JODI</a>, in which OPEC is a founding member</div></div></div> In April 2001, OPEC collaborated with five other international organizations (<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Asia-Pacific_Economic_Cooperation" title="Asia-Pacific Economic Cooperation">APEC</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Eurostat" title="Eurostat">Eurostat</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/International_Energy_Agency" title="International Energy Agency">IEA</a>, <a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=Latin_American_Energy_Organization&action=edit&redlink=1" class="new" title="Latin American Energy Organization (page does not exist)">OLADE</a> [<a href="https://web.archive.org/web/20200927210526/https://es.wikipedia.org/wiki/Organizaci%C3%B3n_Latinoamericana_de_Energ%C3%ADa" class="extiw" title="es:Organización Latinoamericana de Energía">es</a>], <a href="/web/20200927210526/https://en.wikipedia.org/wiki/United_Nations_Statistics_Division" title="United Nations Statistics Division">UNSD</a>) to improve the availability and reliability of oil data. They launched the Joint Oil Data Exercise, which in 2005 was joined by <a href="/web/20200927210526/https://en.wikipedia.org/wiki/International_Energy_Forum" title="International Energy Forum">IEF</a> and renamed the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Joint_Organisations_Data_Initiative" title="Joint Organisations Data Initiative">Joint Organisations Data Initiative</a> (JODI), covering more than 90 percent of the global oil market. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gas_Exporting_Countries_Forum" title="Gas Exporting Countries Forum">GECF</a> joined as an eighth partner in 2014, enabling JODI also to cover nearly 90 percent of the global market for natural gas.<a href="#cite_note-161">[158]</a> Since 2007, OPEC has published the "World Oil Outlook" (WOO) annually, in which it presents a comprehensive analysis of the global oil industry including medium- and long-term projections for supply and demand.<a href="#cite_note-162">[159]</a> OPEC also produces an "Annual Statistical Bulletin" (ASB),<a href="#cite_note-ASB-67">[67]</a> and publishes more-frequent updates in its "Monthly Oil Market Report" (MOMR)<a href="#cite_note-163">[160]</a> and "OPEC Bulletin".<a href="#cite_note-164">[161]</a> <h3>Crude oil benchmarks[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=26" title="Edit section: Crude oil benchmarks">edit</a>]</h3> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Crudes.PNG" class="image"><img alt="refer to caption" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/eb/Crudes.PNG/220px-Crudes.PNG" decoding="async" width="220" height="242" class="thumbimage" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/eb/Crudes.PNG/330px-Crudes.PNG 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/eb/Crudes.PNG/440px-Crudes.PNG 2x" data-file-width="459" data-file-height="504"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Crudes.PNG" class="internal" title="Enlarge"></a></div><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Sulfur" title="Sulfur">Sulfur</a> content and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/API_gravity" title="API gravity">API gravity</a> of different types of crude oil[<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="Brent shown as sweeter than WTI, yet most sources claim the opposite. That and other claims in image probably need checking and sourcing. Example: http://www.petroleum.co.uk/benchmarks (March 2020)">citation needed</a>]</div></div></div> <div role="note" class="hatnote navigation-not-searchable">See also: <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Benchmark_(crude_oil)" title="Benchmark (crude oil)">Benchmark (crude oil)</a></div> A "crude oil benchmark" is a standardized <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petroleum#Classification" title="Petroleum">petroleum</a> product that serves as a convenient reference price for buyers and sellers of crude oil, including standardized contracts in major <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Futures_markets" class="mw-redirect" title="Futures markets">futures markets</a> since 1983. Benchmarks are used because oil prices differ (usually by a few dollars per barrel) based on variety, grade, delivery date and location, and other legal requirements.<a href="#cite_note-165">[162]</a><a href="#cite_note-166">[163]</a> The <a href="/web/20200927210526/https://en.wikipedia.org/wiki/OPEC_Reference_Basket" title="OPEC Reference Basket">OPEC Reference Basket of Crudes</a> has been an important benchmark for oil prices since 2000. It is calculated as a <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Weighted_average" class="mw-redirect" title="Weighted average">weighted average</a> of prices for petroleum blends from the OPEC member countries: Saharan Blend (Algeria), Girassol (Angola), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE), and Merey (Venezuela).<a href="#cite_note-basket-167">[164]</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Brent_Crude" title="Brent Crude">North Sea Brent Crude Oil</a> is the leading benchmark for Atlantic basin crude oils, and is used to price approximately two-thirds of the world's traded crude oil. Other well-known benchmarks are <a href="/web/20200927210526/https://en.wikipedia.org/wiki/West_Texas_Intermediate" title="West Texas Intermediate">West Texas Intermediate</a> (WTI), <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Dubai_Crude" title="Dubai Crude">Dubai Crude</a>, <a href="/web/20200927210526/https://en.wikipedia.org/wiki/DME_Oman_Crude_Oil_Futures_Contract" title="DME Oman Crude Oil Futures Contract">Oman Crude</a>, and <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Urals_oil" title="Urals oil">Urals oil</a>.<a href="#cite_note-168">[165]</a> <h3>Spare capacity[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=27" title="Edit section: Spare capacity">edit</a>]</h3> The US Energy Information Administration, the statistical arm of the US Department of Energy, defines spare capacity for crude oil market management "as the volume of production that can be brought on within 30 days and sustained for at least 90 days... OPEC spare capacity provides an indicator of the world oil market's ability to respond to potential crises that reduce oil supplies."<a href="#cite_note-EIA_2014-61">[61]</a> In November 2014, the International Energy Agency (IEA) estimated that OPEC's "effective" spare capacity, adjusted for ongoing disruptions in countries like Libya and Nigeria, was 3.5 million barrels per day (560,000 m3/d) and that this number would increase to a peak in 2017 of 4.6 million barrels per day (730,000 m3/d).<a href="#cite_note-169">[166]</a> By November 2015, the IEA changed its assessment[<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Wikipedia:Manual_of_Style/Dates_and_numbers" title="Wikipedia:Manual of Style/Dates and numbers">quantify</a>] "with OPEC's spare production buffer stretched thin, as Saudi Arabia – which holds the lion's share of excess capacity – and its [Persian] Gulf neighbours pump at near-record rates."<a href="#cite_note-170">[167]</a> <h2>See also[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=28" title="Edit section: See also">edit</a>]</h2> <style data-mw-deduplicate="TemplateStyles:r936637989">.mw-parser-output .portal{border:solid #aaa 1px;padding:0}.mw-parser-output .portal.tleft{margin:0.5em 1em 0.5em 0}.mw-parser-output .portal.tright{margin:0.5em 0 0.5em 1em}.mw-parser-output .portal>ul{display:table;box-sizing:border-box;padding:0.1em;max-width:175px;background:#f9f9f9;font-size:85%;line-height:110%;font-style:italic;font-weight:bold}.mw-parser-output .portal>ul>li{display:table-row}.mw-parser-output .portal>ul>li>span:first-child{display:table-cell;padding:0.2em;vertical-align:middle;text-align:center}.mw-parser-output .portal>ul>li>span:last-child{display:table-cell;padding:0.2em 0.2em 0.2em 0.3em;vertical-align:middle}</style><div role="navigation" aria-label="Portals" class="noprint portal plainlist tright"> <ul> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/File:Crystal_energy.svg" class="image"><img alt="icon" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/1/14/Crystal_energy.svg/29px-Crystal_energy.svg.png" decoding="async" width="29" height="28" class="noviewer" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/1/14/Crystal_energy.svg/44px-Crystal_energy.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/1/14/Crystal_energy.svg/59px-Crystal_energy.svg.png 2x" data-file-width="130" data-file-height="124"/></a><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Portal:Energy" title="Portal:Energy">Energy portal</a></li></ul></div> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Energy_diplomacy" title="Energy diplomacy">Energy diplomacy</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_oil_exports" title="List of countries by oil exports">List of countries by oil exports</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_country_groupings" title="List of country groupings">List of country groupings</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_intergovernmental_organizations" title="List of intergovernmental organizations">List of intergovernmental organizations</a></li></ul> <div style="clear:both;"></div> <h2>References[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=29" title="Edit section: References">edit</a>]</h2> <div class="reflist" style="list-style-type: decimal;"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-cartel-1">^ <a href="#cite_ref-cartel_1-0">a</a> <a href="#cite_ref-cartel_1-1">b</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.oecd.org/regreform/sectors/2376087.pdf">"Glossary of Industrial Organization Economics and Competition Law"</a> (PDF). <a href="/web/20200927210526/https://en.wikipedia.org/wiki/OECD" title="OECD">OECD</a>. 1993. p. 19. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160304094916/http://www.oecd.org/regreform/sectors/2376087.pdf">Archived</a> (PDF) from the original on 4 March 2016. Retrieved 22 December 2015.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Glossary+of+Industrial+Organization+Economics+and+Competition+Law&rft.pages=19&rft.pub=OECD&rft.date=1993&rft_id=http%3A%2F%2Fwww.oecd.org%2Fregreform%2Fsectors%2F2376087.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><style data-mw-deduplicate="TemplateStyles:r951705291">.mw-parser-output cite.citation{font-style:inherit}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .id-lock-free a,.mw-parser-output .citation .cs1-lock-free a{background-image:url("//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/65/Lock-green.svg/9px-Lock-green.svg.png");background-image:linear-gradient(transparent,transparent),url("//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg");background-repeat:no-repeat;background-size:9px;background-position:right .1em center}.mw-parser-output .id-lock-limited a,.mw-parser-output .id-lock-registration a,.mw-parser-output .citation .cs1-lock-limited a,.mw-parser-output .citation .cs1-lock-registration a{background-image:url("//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Lock-gray-alt-2.svg/9px-Lock-gray-alt-2.svg.png");background-image:linear-gradient(transparent,transparent),url("//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg");background-repeat:no-repeat;background-size:9px;background-position:right .1em center}.mw-parser-output .id-lock-subscription a,.mw-parser-output .citation .cs1-lock-subscription a{background-image:url("//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Lock-red-alt-2.svg/9px-Lock-red-alt-2.svg.png");background-image:linear-gradient(transparent,transparent),url("//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg");background-repeat:no-repeat;background-size:9px;background-position:right .1em center}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-ws-icon a{background-image:url("//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Wikisource-logo.svg/12px-Wikisource-logo.svg.png");background-image:linear-gradient(transparent,transparent),url("//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg");background-repeat:no-repeat;background-size:12px;background-position:right .1em center}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:inherit;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-maint{display:none;color:#33aa33;margin-left:0.3em}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration,.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}</style> </li> <li id="cite_note-OPEC_Member-2">^ <a href="#cite_ref-OPEC_Member_2-0">a</a> <a href="#cite_ref-OPEC_Member_2-1">b</a> <a href="#cite_ref-OPEC_Member_2-2">c</a> <a href="#cite_ref-OPEC_Member_2-3">d</a> <a href="#cite_ref-OPEC_Member_2-4">e</a> <a href="#cite_ref-OPEC_Member_2-5">f</a> <a href="#cite_ref-OPEC_Member_2-6">g</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.opec.org/opec_web/en/about_us/25.htm">"Member Countries"</a>. OPEC. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20200107050155/https://www.opec.org/opec_web/en/about_us/25.htm">Archived</a> from the original on 7 January 2020. 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Metropolitan District of Quito, Ecuador: Ministry of Energy and Non-Renewable Natural Resources. 2 January 2020. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20200107043240/https://www.recursosyenergia.gob.ec/comunicado-oficial-7/">Archived</a> from the original on 7 January 2020. 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Forbes. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20190802092849/https://www.forbes.com/sites/arielcohen/2018/06/29/opec-is-dead-long-live-opec/">Archived</a> from the original on 2 August 2019. 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Bloomberg News. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20170222193958/https://www.bloomberg.com/gadfly/interactives/2016-how-opec-won-the-battle-and-lost-the-war/">Archived</a> from the original on 22 February 2017. 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Inter Press Service. 14 September 2010. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20151224104031/http://www.ipsnews.net/2010/09/opec-fifty-years-regulating-oil-market-roller-coaster/">Archived</a> from the original on 24 December 2015. 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Lanham, MD: Scarecrow Press. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/><a href="/web/20200927210526/https://en.wikipedia.org/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Special:BookSources/0-8108-5993-9" title="Special:BookSources/0-8108-5993-9">0-8108-5993-9</a>. </li> <li id="cite_note-23"><a href="#cite_ref-23">^</a> <cite id="CITEREFKumins1975" class="citation journal cs1">Kumins, Lawrence (1975). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.unz.org/Pub/CurrentHistory-1975nov-00189">"Oil and the Economy"</a>. Energy Shock: 189.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Energy+Shock&rft.atitle=Oil+and+the+Economy&rft.pages=189&rft.date=1975&rft.aulast=Kumins&rft.aufirst=Lawrence&rft_id=http%3A%2F%2Fwww.unz.org%2FPub%2FCurrentHistory-1975nov-00189&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-Maugeri2006-24">^ <a href="#cite_ref-Maugeri2006_24-0">a</a> <a href="#cite_ref-Maugeri2006_24-1">b</a> <a href="#cite_ref-Maugeri2006_24-2">c</a> <cite id="CITEREFMaugeri2006" class="citation book cs1">Maugeri, Leonardo (2006). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://books.google.com/books?id=JWmx5uKA6gIC&printsec=frontcover">The Age of Oil: The Mythology, History, and Future of the World's Most Controversial Resource</a>. Greenwood Publishing Group. pp. 112–116. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Special:BookSources/978-0-275-99008-4" title="Special:BookSources/978-0-275-99008-4"><bdi>978-0-275-99008-4</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160501230353/https://books.google.com/books?id=JWmx5uKA6gIC&printsec=frontcover">Archived</a> from the original on 1 May 2016. 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January 2005. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20070609060809/http://www.nationalarchives.gov.uk/releases/2005/nyo/politics.htm">Archived</a> from the original on 9 June 2007. Retrieved 29 December 2015.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=British+Economics+and+Trade+Union+politics+1973%E2%80%931974&rft.pub=The+National+Archives+%28UK%29&rft.date=2005-01&rft_id=http%3A%2F%2Fwww.nationalarchives.gov.uk%2Freleases%2F2005%2Fnyo%2Fpolitics.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-27"><a href="#cite_ref-27">^</a> <cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://archives.chicagotribune.com/1973/11/26/page/7/article/europe-car-ban-becoming-a-real-traffic-stopper">"Europe car ban becoming a real traffic stopper"</a>. 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Archived from <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.ofid.org/Portals/0/Publications/Special%20Publications/AE-engl.pdf">the original</a> (PDF) on 24 April 2017. Retrieved 12 January 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=OPEC&rft.atitle=The+Agreement+Establishing+the+OPEC+Fund+for+International+Development&rft.date=1980-05-27&rft_id=http%3A%2F%2Fwww.ofid.org%2FPortals%2F0%2FPublications%2FSpecial%2520Publications%2FAE-engl.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-42"><a href="#cite_ref-42">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.un.org/en/sections/member-states/intergovernmental-organizations/">"Intergovernmental Organizations"</a>. United Nations. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20170806153518/http://www.un.org/en/sections/member-states/intergovernmental-organizations/">Archived</a> from the original on 6 August 2017. Retrieved 28 April 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Intergovernmental+Organizations&rft.pub=United+Nations&rft_id=https%3A%2F%2Fwww.un.org%2Fen%2Fsections%2Fmember-states%2Fintergovernmental-organizations%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-jackal-43">^ <a href="#cite_ref-jackal_43-0">a</a> <a href="#cite_ref-jackal_43-1">b</a> <a href="#cite_ref-jackal_43-2">c</a> <cite id="CITEREFBellamy" class="citation web cs1">Bellamy, Patrick. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20120107125703/http://www.trutv.com/library/crime/terrorists_spies/terrorists/jackal/12.html">"Carlos the Jackal: Trail of Terror"</a>. truTV. 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Arcade Publishing. p. 102. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Special:BookSources/978-1559704663" title="Special:BookSources/978-1559704663"><bdi>978-1559704663</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160503194550/https://books.google.com/books?id=3t5jtM2faD8C&pg=PA102">Archived</a> from the original on 3 May 2016. Retrieved 13 January 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Jackal%3A+The+Complete+Story+of+the+Legendary+Terrorist%2C+Carlos+the+Jackal&rft.pages=102&rft.pub=Arcade+Publishing&rft.date=1998&rft.isbn=978-1559704663&rft.aulast=Follain&rft.aufirst=John&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3D3t5jtM2faD8C%26pg%3DPA102&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-45"><a href="#cite_ref-45">^</a> <cite id="CITEREFAnderson2017" class="citation news cs1">Anderson, Gary (28 March 2017). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://news.sky.com/story/carlos-the-jackal-jailed-over-1974-paris-grenade-attack-10816476">"'Carlos the Jackal' jailed over 1974 Paris grenade attack"</a>. Sky News. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20170328141244/http://news.sky.com/story/carlos-the-jackal-jailed-over-1974-paris-grenade-attack-10816476">Archived</a> from the original on 28 March 2017. Retrieved 22 April 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=%27Carlos+the+Jackal%27+jailed+over+1974+Paris+grenade+attack&rft.date=2017-03-28&rft.aulast=Anderson&rft.aufirst=Gary&rft_id=http%3A%2F%2Fnews.sky.com%2Fstory%2Fcarlos-the-jackal-jailed-over-1974-paris-grenade-attack-10816476&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-46"><a href="#cite_ref-46">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20080107014809/http://www.eia.doe.gov/emeu/cabs/OPEC_Revenues/OPEC.html">"OPEC Revenues Fact Sheet"</a>. US Energy Information Administration. 10 January 2006. Archived from the original on 7 January 2008.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=OPEC+Revenues+Fact+Sheet&rft.pub=US+Energy+Information+Administration&rft.date=2006-01-10&rft_id=http%3A%2F%2Fwww.eia.doe.gov%2Femeu%2Fcabs%2FOPEC_Revenues%2FOPEC.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988">CS1 maint: unfit url (<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Category:CS1_maint:_unfit_url" title="Category:CS1 maint: unfit url">link</a>)<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-EIA2015-47">^ <a href="#cite_ref-EIA2015_47-0">a</a> <a href="#cite_ref-EIA2015_47-1">b</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.eia.gov/beta/international/regions-topics.cfm?RegionTopicID=OPEC">"OPEC Revenues Fact Sheet"</a>. US Energy Information Administration. 15 May 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20151222161556/http://www.eia.gov/beta/international/regions-topics.cfm?RegionTopicID=OPEC">Archived</a> from the original on 22 December 2015. Retrieved 28 May 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=OPEC+Revenues+Fact+Sheet&rft.pub=US+Energy+Information+Administration&rft.date=2017-05-15&rft_id=http%3A%2F%2Fwww.eia.gov%2Fbeta%2Finternational%2Fregions-topics.cfm%3FRegionTopicID%3DOPEC&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-48"><a href="#cite_ref-48">^</a> <cite id="CITEREFMouawad2008" class="citation news cs1">Mouawad, Jad (3 March 2008). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.nytimes.com/2008/03/03/business/worldbusiness/03cnd-oil.html">"Oil Prices Pass Record Set in '80s, but Then Recede"</a>. The New York Times. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20170307021046/http://www.nytimes.com/2008/03/03/business/worldbusiness/03cnd-oil.html">Archived</a> from the original on 7 March 2017. Retrieved 11 February 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=Oil+Prices+Pass+Record+Set+in+%2780s%2C+but+Then+Recede&rft.date=2008-03-03&rft.aulast=Mouawad&rft.aufirst=Jad&rft_id=https%3A%2F%2Fwww.nytimes.com%2F2008%2F03%2F03%2Fbusiness%2Fworldbusiness%2F03cnd-oil.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-49"><a href="#cite_ref-49">^</a> <cite id="CITEREFDenning2016" class="citation news cs1">Denning, Liam (18 May 2016). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.bloomberg.com/gadfly/articles/2016-05-18/saudi-aramco-ipo-big-oil-s-world-is-changing">"It's Saudi Arabia's World. Big Oil Just Lives In It"</a>. Bloomberg News. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20170203211205/https://www.bloomberg.com/gadfly/articles/2016-05-18/saudi-aramco-ipo-big-oil-s-world-is-changing">Archived</a> from the original on 3 February 2017. Retrieved 10 March 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=It%27s+Saudi+Arabia%27s+World.+Big+Oil+Just+Lives+In+It&rft.date=2016-05-18&rft.aulast=Denning&rft.aufirst=Liam&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fgadfly%2Farticles%2F2016-05-18%2Fsaudi-aramco-ipo-big-oil-s-world-is-changing&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-50"><a href="#cite_ref-50">^</a> <cite id="CITEREFTothRogner2006" class="citation journal cs1">Toth, Ferenc L.; Rogner, Hans-Holger (January 2006). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.iaea.org/OurWork/ST/NE/Pess/assets/oil+np_toth+rogner0106.pdf">"Oil and nuclear power: Past, present, and future"</a> (PDF). Energy Economics. 28 (1): 1–25. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://doi.org/10.1016%2Fj.eneco.2005.03.004">10.1016/j.eneco.2005.03.004</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20071203152254/http://www.iaea.org/OurWork/ST/NE/Pess/assets/oil%2Bnp_toth%2Brogner0106.pdf">Archived</a> (PDF) from the original on 3 December 2007. Retrieved 30 December 2015.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Energy+Economics&rft.atitle=Oil+and+nuclear+power%3A+Past%2C+present%2C+and+future&rft.volume=28&rft.issue=1&rft.pages=1-25&rft.date=2006-01&rft_id=info%3Adoi%2F10.1016%2Fj.eneco.2005.03.004&rft.aulast=Toth&rft.aufirst=Ferenc+L.&rft.au=Rogner%2C+Hans-Holger&rft_id=http%3A%2F%2Fwww.iaea.org%2FOurWork%2FST%2FNE%2FPess%2Fassets%2Foil%2Bnp_toth%2Brogner0106.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-51"><a href="#cite_ref-51">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.iea.org/publications/freepublications/publication/renewable_factsheet.pdf">"Renewables in Global Energy Supply: An IEA Fact Sheet"</a> (PDF). International Energy Agency. January 2007. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160303220128/https://www.iea.org/publications/freepublications/publication/renewable_factsheet.pdf">Archived</a> (PDF) from the original on 3 March 2016. Retrieved 30 December 2015.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Renewables+in+Global+Energy+Supply%3A+An+IEA+Fact+Sheet&rft.pub=International+Energy+Agency&rft.date=2007-01&rft_id=https%3A%2F%2Fwww.iea.org%2Fpublications%2Ffreepublications%2Fpublication%2Frenewable_factsheet.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-52"><a href="#cite_ref-52">^</a> <cite class="citation pressrelease cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.unep.org/Documents.Multilingual/Default.asp?DocumentID=2718&ArticleID=9542">"Renewable Energy: World Invests $244 billion in 2012, Geographic Shift to Developing Countries"</a> (Press release). United Nations Environment Programme. 12 June 2013. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160304110442/http://www.unep.org/Documents.Multilingual/Default.asp?DocumentID=2718&ArticleID=9542">Archived</a> from the original on 4 March 2016. Retrieved 30 December 2015.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Renewable+Energy%3A+World+Invests+%24244+billion+in+2012%2C+Geographic+Shift+to+Developing+Countries&rft.pub=United+Nations+Environment+Programme&rft.date=2013-06-12&rft_id=http%3A%2F%2Fwww.unep.org%2FDocuments.Multilingual%2FDefault.asp%3FDocumentID%3D2718%26ArticleID%3D9542&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-53"><a href="#cite_ref-53">^</a> <cite id="CITEREFBromley2013" class="citation book cs1">Bromley, Simon (2013). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://books.google.com/books?id=1cJhK-Sd8QgC&pg=PT95">American Power and the Prospects for International Order</a>. John Wiley & Sons. p. 95. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Special:BookSources/9780745658414" title="Special:BookSources/9780745658414"><bdi>9780745658414</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160617111649/https://books.google.com/books?id=1cJhK-Sd8QgC&pg=PT95">Archived</a> from the original on 17 June 2016. Retrieved 30 December 2015.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=American+Power+and+the+Prospects+for+International+Order&rft.pages=95&rft.pub=John+Wiley+%26+Sons&rft.date=2013&rft.isbn=9780745658414&rft.aulast=Bromley&rft.aufirst=Simon&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3D1cJhK-Sd8QgC%26pg%3DPT95&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-Robert-54">^ <a href="#cite_ref-Robert_54-0">a</a> <a href="#cite_ref-Robert_54-1">b</a> <a href="#cite_ref-Robert_54-2">c</a> <cite id="CITEREFRobert2004" class="citation book cs1">Robert, Paul (2004). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://archive.org/details/endofoilonedgeof00robe_0/page/103">The End of Oil: The Decline of the Petroleum Economy and the Rise of a New Energy Order</a>. New York: <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Houghton_Mifflin_Company" class="mw-redirect" title="Houghton Mifflin Company">Houghton Mifflin Company</a>. pp. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://archive.org/details/endofoilonedgeof00robe_0/page/103">103–104</a>. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Special:BookSources/978-0-618-23977-1" title="Special:BookSources/978-0-618-23977-1"><bdi>978-0-618-23977-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+End+of+Oil%3A+The+Decline+of+the+Petroleum+Economy+and+the+Rise+of+a+New+Energy+Order&rft.place=New+York&rft.pages=103-104&rft.pub=Houghton+Mifflin+Company&rft.date=2004&rft.isbn=978-0-618-23977-1&rft.aulast=Robert&rft.aufirst=Paul&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fendofoilonedgeof00robe_0%2Fpage%2F103&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-55"><a href="#cite_ref-55">^</a> <cite id="CITEREFHershey_Jr.1989" class="citation news cs1">Hershey Jr., Robert D. (30 December 1989). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.nytimes.com/1989/12/30/business/worrying-anew-over-oil-imports.html?pagewanted=all">"Worrying Anew Over Oil Imports"</a>. The New York Times. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20170612035248/http://www.nytimes.com/1989/12/30/business/worrying-anew-over-oil-imports.html?pagewanted=all">Archived</a> from the original on 12 June 2017. Retrieved 11 February 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=Worrying+Anew+Over+Oil+Imports&rft.date=1989-12-30&rft.aulast=Hershey+Jr.&rft.aufirst=Robert+D.&rft_id=https%3A%2F%2Fwww.nytimes.com%2F1989%2F12%2F30%2Fbusiness%2Fworrying-anew-over-oil-imports.html%3Fpagewanted%3Dall&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-Ali-56">^ <a href="#cite_ref-Ali_56-0">a</a> <a href="#cite_ref-Ali_56-1">b</a> <cite id="CITEREFAl-Naimi2016" class="citation book cs1">Al-Naimi, Ali (2016). Out of the Desert. Great Britain: Portfolio Penguin. pp. 201–210, 239. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Special:BookSources/9780241279250" title="Special:BookSources/9780241279250"><bdi>9780241279250</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Out+of+the+Desert&rft.place=Great+Britain&rft.pages=201-210%2C+239&rft.pub=Portfolio+Penguin&rft.date=2016&rft.isbn=9780241279250&rft.aulast=Al-Naimi&rft.aufirst=Ali&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-57"><a href="#cite_ref-57">^</a> <cite id="CITEREFGaidar2007" class="citation web cs1"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Yegor_Gaidar" title="Yegor Gaidar">Gaidar, Yegor</a> (April 2007). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.aei.org/wp-content/uploads/2011/10/20070419_Gaidar.pdf">"The Soviet Collapse: Grain and Oil"</a> (PDF). <a href="/web/20200927210526/https://en.wikipedia.org/wiki/American_Enterprise_Institute" title="American Enterprise Institute">American Enterprise Institute</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160304021426/https://www.aei.org/wp-content/uploads/2011/10/20070419_Gaidar.pdf">Archived</a> (PDF) from the original on 4 March 2016. Retrieved 12 January 2016. <q>Oil production in Saudi Arabia increased fourfold, while oil prices collapsed by approximately the same amount in real terms. As a result, the Soviet Union lost approximately $20 billion per year, money without which the country simply could not survive.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+Soviet+Collapse%3A+Grain+and+Oil&rft.pub=American+Enterprise+Institute&rft.date=2007-04&rft.aulast=Gaidar&rft.aufirst=Yegor&rft_id=https%3A%2F%2Fwww.aei.org%2Fwp-content%2Fuploads%2F2011%2F10%2F20070419_Gaidar.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-58"><a href="#cite_ref-58">^</a> <cite id="CITEREFMcMaken2014" class="citation web cs1">McMaken, Ryan (7 November 2014). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://mises.org/library/economics-behind-fall-berlin-wall">"The Economics Behind the Fall of the Berlin Wall"</a>. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Mises_Institute" title="Mises Institute">Mises Institute</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160306150734/https://mises.org/library/economics-behind-fall-berlin-wall">Archived</a> from the original on 6 March 2016. Retrieved 12 January 2016. <q>High oil prices in the 1970s propped up the regime so well, that had it not been for Soviet oil sales, it's quite possible the regime would have collapsed a decade earlier.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+Economics+Behind+the+Fall+of+the+Berlin+Wall&rft.pub=Mises+Institute&rft.date=2014-11-07&rft.aulast=McMaken&rft.aufirst=Ryan&rft_id=https%3A%2F%2Fmises.org%2Flibrary%2Feconomics-behind-fall-berlin-wall&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-Brief_History-59"><a href="#cite_ref-Brief_History_59-0">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.opec.org/opec_web/en/about_us/24.htm">"Brief History"</a>. OPEC. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20130228051108/http://www.opec.org/opec_web/en/about_us/24.htm">Archived</a> from the original on 28 February 2013. Retrieved 16 February 2013.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=OPEC&rft.atitle=Brief+History&rft_id=http%3A%2F%2Fwww.opec.org%2Fopec_web%2Fen%2Fabout_us%2F24.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-limit-60"><a href="#cite_ref-limit_60-0">^</a> <cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.foxnews.com/printer_friendly_wires/2008Dec30/0,4675,MLMideastLibyaOPECCompliance,00.html">"Libya orders oil cuts of 270K bpd"</a>. Associated Press. 30 December 2008. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20151211182333/http://www.foxnews.com/printer_friendly_wires/2008Dec30/0,4675,MLMideastLibyaOPECCompliance,00.html">Archived</a> from the original on 11 December 2015. Retrieved 8 December 2015. <q>Libya has asked oil companies to slash production by 270,000 barrels per day. Abu Dhabi National Oil Co. told customers in letters dated Dec. 25 that it was cutting ... 10 to 15 percent of all types of ADNOC crude in February. Ecuadorean President Rafael Correa said the South American nation would suspend crude production by Italy's Agip and reduce quotas for other companies to comply with new OPEC cuts.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Libya+orders+oil+cuts+of+270K+bpd&rft.date=2008-12-30&rft_id=http%3A%2F%2Fwww.foxnews.com%2Fprinter_friendly_wires%2F2008Dec30%2F0%2C4675%2CMLMideastLibyaOPECCompliance%2C00.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-EIA_2014-61">^ <a href="#cite_ref-EIA_2014_61-0">a</a> <a href="#cite_ref-EIA_2014_61-1">b</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.eia.gov/finance/markets/supply-opec.cfm">"Energy & Financial Markets: What Drives Crude Oil Prices?"</a>. US Energy Information Administration. 2014. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20141213031101/http://www.eia.gov/finance/markets/supply-opec.cfm">Archived</a> from the original on 13 December 2014. Retrieved 12 December 2014.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Energy+%26+Financial+Markets%3A+What+Drives+Crude+Oil+Prices%3F&rft.pub=US+Energy+Information+Administration&rft.date=2014&rft_id=https%3A%2F%2Fwww.eia.gov%2Ffinance%2Fmarkets%2Fsupply-opec.cfm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-62"><a href="#cite_ref-62">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://nepis.epa.gov/Exe/ZyNET.exe/20014FNJ.txt?ZyActionD=ZyDocument&Client=EPA&Index=1991%20Thru%201994&File=D%3A%5CZYFILES%5CINDEX%20DATA%5C91THRU94%5CTXT%5C00000017%5C20014FNJ.txt&User=ANONYMOUS&Password=anonymous&Display=p%7Cf&DefSeekPage=x&SearchBack=ZyActionL&Back=ZyActionS&BackDesc=Results%20page&MaximumPages=1&ZyEntry=1">"Report to Congress: United States Gulf Environmental Technical Assistance"</a>. US Environmental Protection Agency. 1991. p. 14. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160424001604/http://nepis.epa.gov/Exe/ZyNET.exe/20014FNJ.txt?ZyActionD=ZyDocument&Client=EPA&Index=1991%20Thru%201994&File=D%3A%5CZYFILES%5CINDEX%20DATA%5C91THRU94%5CTXT%5C00000017%5C20014FNJ.txt&User=ANONYMOUS&Password=anonymous&Display=p%7Cf&DefSeekPage=x&SearchBack=ZyActionL&Back=ZyActionS&BackDesc=Results%20page&MaximumPages=1&ZyEntry=1">Archived</a> from the original on 24 April 2016. Retrieved 11 April 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Report+to+Congress%3A+United+States+Gulf+Environmental+Technical+Assistance&rft.pages=14&rft.pub=US+Environmental+Protection+Agency&rft.date=1991&rft_id=http%3A%2F%2Fnepis.epa.gov%2FExe%2FZyNET.exe%2F20014FNJ.txt%3FZyActionD%3DZyDocument%26Client%3DEPA%26Index%3D1991%2520Thru%25201994%26File%3DD%253A%255CZYFILES%255CINDEX%2520DATA%255C91THRU94%255CTXT%255C00000017%255C20014FNJ.txt%26User%3DANONYMOUS%26Password%3Danonymous%26Display%3Dp%257Cf%26DefSeekPage%3Dx%26SearchBack%3DZyActionL%26Back%3DZyActionS%26BackDesc%3DResults%2520page%26MaximumPages%3D1%26ZyEntry%3D1&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-Brent-63">^ <a href="#cite_ref-Brent_63-0">a</a> <a href="#cite_ref-Brent_63-1">b</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.quandl.com/DOE/RBRTE">"Europe Brent Crude Oil Spot Price FOB (DOE)"</a>. Quandl. Retrieved 1 January 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Europe+Brent+Crude+Oil+Spot+Price+FOB+%28DOE%29&rft.pub=Quandl&rft_id=https%3A%2F%2Fwww.quandl.com%2FDOE%2FRBRTE&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/>[<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Wikipedia:Link_rot" title="Wikipedia:Link rot">permanent dead link</a>] </li> <li id="cite_note-64"><a href="#cite_ref-64">^</a> <cite id="CITEREFIbrahim1990" class="citation news cs1">Ibrahim, Youssef M. (18 July 1990). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.nytimes.com/1990/07/18/business/iraq-threatens-emirates-and-kuwait-on-oil-glut.html">"Iraq Threatens Emirates and Kuwait on Oil Glut"</a>. The New York Times. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20170630060909/http://www.nytimes.com/1990/07/18/business/iraq-threatens-emirates-and-kuwait-on-oil-glut.html">Archived</a> from the original on 30 June 2017. Retrieved 11 February 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=Iraq+Threatens+Emirates+and+Kuwait+on+Oil+Glut&rft.date=1990-07-18&rft.aulast=Ibrahim&rft.aufirst=Youssef+M.&rft_id=https%3A%2F%2Fwww.nytimes.com%2F1990%2F07%2F18%2Fbusiness%2Firaq-threatens-emirates-and-kuwait-on-oil-glut.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-Ecuador-65">^ <a href="#cite_ref-Ecuador_65-0">a</a> <a href="#cite_ref-Ecuador_65-1">b</a> <cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.nytimes.com/1992/09/18/business/ecuador-set-to-leave-opec.html">"Ecuador Set to Leave OPEC"</a>. The New York Times. 18 September 1992. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160314210526/http://www.nytimes.com/1992/09/18/business/ecuador-set-to-leave-opec.html">Archived</a> from the original on 14 March 2016. Retrieved 8 April 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=Ecuador+Set+to+Leave+OPEC&rft.date=1992-09-18&rft_id=https%3A%2F%2Fwww.nytimes.com%2F1992%2F09%2F18%2Fbusiness%2Fecuador-set-to-leave-opec.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-Gabon-66">^ <a href="#cite_ref-Gabon_66-0">a</a> <a href="#cite_ref-Gabon_66-1">b</a> <cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.nytimes.com/1995/01/09/business/gabon-plans-to-quit-opec.html">"Gabon Plans To Quit OPEC"</a>. The New York Times. 9 January 1995. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160314132000/http://www.nytimes.com/1995/01/09/business/gabon-plans-to-quit-opec.html">Archived</a> from the original on 14 March 2016. Retrieved 8 April 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=Gabon+Plans+To+Quit+OPEC&rft.date=1995-01-09&rft_id=https%3A%2F%2Fwww.nytimes.com%2F1995%2F01%2F09%2Fbusiness%2Fgabon-plans-to-quit-opec.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-ASB-67">^ <a href="#cite_ref-ASB_67-0">a</a> <a href="#cite_ref-ASB_67-1">b</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.opec.org/opec_web/en/publications/202.htm">"Annual Statistical Bulletin"</a>. OPEC. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20180821113032/https://www.opec.org/opec_web/en/publications/202.htm">Archived</a> from the original on 21 August 2018. Retrieved 31 December 2015.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=OPEC&rft.atitle=Annual+Statistical+Bulletin&rft_id=http%3A%2F%2Fwww.opec.org%2Fopec_web%2Fen%2Fpublications%2F202.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-68"><a href="#cite_ref-68">^</a> <cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.upi.com/Business_News/Energy-Industry/2010/02/05/Iraq-heads-for-OPEC-clash-over-quota/14451265409498/">"Iraq heads for OPEC clash over quota"</a>. UPI. 5 February 2010. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160417085129/http://www.upi.com/Business_News/Energy-Industry/2010/02/05/Iraq-heads-for-OPEC-clash-over-quota/14451265409498/">Archived</a> from the original on 17 April 2016. Retrieved 6 April 2016. <q>Iraq, a founding member of OPEC, has not had a production quota since 1998, when it was pegged at 1.3 million bpd to allow Saddam Hussein's regime to sell oil for food during U.N. sanctions imposed in 1990... Despite the success of the 2009 auctions, problems remain – mounting violence in the run-up to March 7 parliamentary elections, uncertainty over their outcome, and, probably more importantly, the absence of a long-delayed oil law that will define revenue-sharing and regulation of the industry.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Iraq+heads+for+OPEC+clash+over+quota&rft.date=2010-02-05&rft_id=http%3A%2F%2Fwww.upi.com%2FBusiness_News%2FEnergy-Industry%2F2010%2F02%2F05%2FIraq-heads-for-OPEC-clash-over-quota%2F14451265409498%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-69"><a href="#cite_ref-69">^</a> <cite class="citation book cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.energycharter.org/fileadmin/DocumentsMedia/Thematic/Oil_and_Gas_Pricing_2007_en.pdf">Putting a Price on Energy</a> (PDF). Energy Charter Secretariat. 2007. p. 90. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Special:BookSources/978-9059480469" title="Special:BookSources/978-9059480469"><bdi>978-9059480469</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160413155028/http://www.energycharter.org/fileadmin/DocumentsMedia/Thematic/Oil_and_Gas_Pricing_2007_en.pdf">Archived</a> (PDF) from the original on 13 April 2016. 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BBC. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20131031103610/http://news.bbc.co.uk/2/hi/americas/7486705.stm">Archived</a> from the original on 31 October 2013. 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OPEC. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160121231540/http://www.opec.org/basket/basketDayArchives.xml">Archived</a> from the original on 21 January 2016. Retrieved 21 January 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=OPEC&rft.atitle=OPEC+Basket+Daily+Archives&rft_id=http%3A%2F%2Fwww.opec.org%2Fbasket%2FbasketDayArchives.xml&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-84"><a href="#cite_ref-84">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.eia.gov/totalenergy/data/monthly/archive/00351705.pdf">"Monthly Energy Review"</a> (PDF). US Energy Information Administration. 25 May 2017. 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Retrieved 13 December 2014.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=US+Oil+Prices+Fall+Below+%2480+a+Barrel&rft.date=2014-11-03&rft.aulast=Krassnov&rft.aufirst=Clifford&rft_id=https%3A%2F%2Fwww.nytimes.com%2F2014%2F11%2F04%2Fbusiness%2Fenergy-environment%2Fus-oil-prices-fall-below-80-a-barrel.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-glut-86">^ <a href="#cite_ref-glut_86-0">a</a> <a href="#cite_ref-glut_86-1">b</a> <cite id="CITEREFSmithRascouetMahdi2015" class="citation news cs1">Smith, Grant; Rascouet, Angelina; Mahdi, Wael (4 December 2015). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.bloomberg.com/news/articles/2015-12-04/opec-maintains-crude-production-as-group-defers-output-target-ihryzilb">"OPEC Won't Cut Production to Stop Oil's Slump"</a>. 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Retrieved 10 March 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=OPEC+Won%27t+Cut+Production+to+Stop+Oil%27s+Slump&rft.date=2015-12-04&rft.aulast=Smith&rft.aufirst=Grant&rft.au=Rascouet%2C+Angelina&rft.au=Mahdi%2C+Wael&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2015-12-04%2Fopec-maintains-crude-production-as-group-defers-output-target-ihryzilb&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-PriceWar-87"><a href="#cite_ref-PriceWar_87-0">^</a> <cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://uk.reuters.com/article/uk-opec-meeting-idUKKCN0JB0M420141128">"Inside OPEC room, Naimi declares price war on US shale oil"</a>. 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Retrieved 13 January 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Inside+OPEC+room%2C+Naimi+declares+price+war+on+US+shale+oil&rft.date=2014-11-28&rft_id=http%3A%2F%2Fuk.reuters.com%2Farticle%2Fuk-opec-meeting-idUKKCN0JB0M420141128&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-MEES-88">^ <a href="#cite_ref-MEES_88-0">a</a> <a href="#cite_ref-MEES_88-1">b</a> <cite class="citation journal cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20151221021005/http://oilpro.com/post/9223/mees-interview-saudi-oil-minister-ali-naimi">"Interview With Saudi Oil Minister Ali Naimi"</a>. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Middle_East_Economic_Survey" title="Middle East Economic Survey">Middle East Economic Survey</a>. 57 (51/52). 22 December 2014. 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US Energy Information Administration. 19 November 2015. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20151223160212/http://www.eia.gov/beta/international/analysis_includes/countries_long/Libya/libya.pdf">Archived</a> (PDF) from the original on 23 December 2015. 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The Telegraph. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20170208231802/http://www.telegraph.co.uk/business/2016/06/04/opec-is-very-much-alive-as-saudis-learn-to-tread-softly/">Archived</a> from the original on 8 February 2017. 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Bloomberg News. 13 June 2016. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20170118212601/https://www.bloomberg.com/news/articles/2016-06-13/china-cuts-oil-output-by-most-in-15-years-coal-production-slows">Archived</a> from the original on 18 January 2017. Retrieved 10 March 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=OPEC+Has+Its+Way+as+China+Oil+Output+Cut+by+Most+in+15+Years&rft.date=2016-06-13&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2016-06-13%2Fchina-cuts-oil-output-by-most-in-15-years-coal-production-slows&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-97"><a href="#cite_ref-97">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://phx.corporate-ir.net/phoenix.zhtml?c=79687&p=irol-reportsother">"North America Rig Count"</a>. Baker Hughes. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20170302194417/http://phx.corporate-ir.net/phoenix.zhtml?c=79687&p=irol-reportsother">Archived</a> from the original on 2 March 2017. 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Reuters. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20161201141227/http://www.reuters.com/article/us-opec-meeting-indonesia-idUSKBN13Q3M7">Archived</a> from the original on 1 December 2016. 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Bloomberg News. 30 November 2016. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20161201020159/https://www.bloomberg.com/news/articles/2016-11-30/opec-decision-day-as-ministers-meet-to-salvage-deal-on-oil-cuts">Archived</a> from the original on 1 December 2016. 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OPEC (Press release). 30 November 2016. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20161201015438/http://www.opec.org/opec_web/en/press_room/3912.htm">Archived</a> from the original on 1 December 2016. Retrieved 30 November 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=OPEC+171st+Meeting+concludes&rft.date=2016-11-30&rft_id=http%3A%2F%2Fwww.opec.org%2Fopec_web%2Fen%2Fpress_room%2F3912.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-101"><a href="#cite_ref-101">^</a> <cite id="CITEREFBlas2016" class="citation news cs1">Blas, Javier (20 October 2016). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.bloomberg.com/news/articles/2016-10-20/the-world-s-biggest-oil-kingdom-reverses-course">"The World's Biggest Oil Kingdom Reverses Course"</a>. Bloomberg News. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20170406180755/https://www.bloomberg.com/news/articles/2016-10-20/the-world-s-biggest-oil-kingdom-reverses-course">Archived</a> from the original on 6 April 2017. Retrieved 10 March 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=The+World%27s+Biggest+Oil+Kingdom+Reverses+Course&rft.date=2016-10-20&rft.aulast=Blas&rft.aufirst=Javier&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2016-10-20%2Fthe-world-s-biggest-oil-kingdom-reverses-course&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-102"><a href="#cite_ref-102">^</a> <cite id="CITEREFHume2016" class="citation news cs1">Hume, Neil (28 September 2016). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.ft.com/content/01ab26c7-3af5-3c54-96fd-8237d66e17c6">"OPEC agrees on need for output cut"</a>. The Financial Times. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160928201057/https://www.ft.com/content/01ab26c7-3af5-3c54-96fd-8237d66e17c6">Archived</a> from the original on 28 September 2016. Retrieved 28 September 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Financial+Times&rft.atitle=OPEC+agrees+on+need+for+output+cut&rft.date=2016-09-28&rft.aulast=Hume&rft.aufirst=Neil&rft_id=https%3A%2F%2Fwww.ft.com%2Fcontent%2F01ab26c7-3af5-3c54-96fd-8237d66e17c6&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-103"><a href="#cite_ref-103">^</a> <cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.bloomberg.com/news/articles/2016-12-11/russian-energy-minister-says-oil-output-cuts-to-start-in-january">"Russian Energy Minister Says Oil Cuts to Start in January"</a>. Bloomberg News. 11 December 2016. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20161213115632/https://www.bloomberg.com/news/articles/2016-12-11/russian-energy-minister-says-oil-output-cuts-to-start-in-january">Archived</a> from the original on 13 December 2016. Retrieved 12 December 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Russian+Energy+Minister+Says+Oil+Cuts+to+Start+in+January&rft.date=2016-12-11&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2016-12-11%2Frussian-energy-minister-says-oil-output-cuts-to-start-in-january&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-104"><a href="#cite_ref-104">^</a> <cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.bloomberg.com/news/articles/2017-03-07/opec-said-to-break-bread-with-shale-in-rare-show-of-detente">"OPEC Said to Break Bread With Shale in Rare Show of Detente"</a>. Bloomberg News. 7 March 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20170307220233/https://www.bloomberg.com/news/articles/2017-03-07/opec-said-to-break-bread-with-shale-in-rare-show-of-detente">Archived</a> from the original on 7 March 2017. Retrieved 8 March 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=OPEC+Said+to+Break+Bread+With+Shale+in+Rare+Show+of+Detente&rft.date=2017-03-07&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2017-03-07%2Fopec-said-to-break-bread-with-shale-in-rare-show-of-detente&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-105"><a href="#cite_ref-105">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.bloomberg.com/graphics/opec-production-targets/">"Where OPEC+ Oil Production Stands Now – Bloomberg"</a>. Retrieved 19 March 2020.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Where+OPEC%2B+Oil+Production+Stands+Now+%E2%80%93+Bloomberg&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fgraphics%2Fopec-production-targets%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-106"><a href="#cite_ref-106">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.forbes.com/sites/arielcohen/2018/06/29/opec-is-dead-long-live-opec/#5abfd30b2217">"OPEC Is Dead, Long Live OPEC+"</a>. Retrieved 19 March 2020.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=OPEC+Is+Dead%2C+Long+Live+OPEC%2B&rft_id=https%3A%2F%2Fwww.forbes.com%2Fsites%2Farielcohen%2F2018%2F06%2F29%2Fopec-is-dead-long-live-opec%2F%235abfd30b2217&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-107"><a href="#cite_ref-107">^</a> <cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.reuters.com/article/us-russia-oil-opec/russia-backs-gradual-managed-exit-from-oil-cuts-with-opec-idUSKBN1EG11V">"Russia backs gradual, managed exit from oil cuts with OPEC"</a>. Reuters. 22 December 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20171226073926/https://www.reuters.com/article/us-russia-oil-opec/russia-backs-gradual-managed-exit-from-oil-cuts-with-opec-idUSKBN1EG11V">Archived</a> from the original on 26 December 2017. Retrieved 25 December 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Reuters&rft.atitle=Russia+backs+gradual%2C+managed+exit+from+oil+cuts+with+OPEC&rft.date=2017-12-22&rft_id=https%3A%2F%2Fwww.reuters.com%2Farticle%2Fus-russia-oil-opec%2Frussia-backs-gradual-managed-exit-from-oil-cuts-with-opec-idUSKBN1EG11V&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-108"><a href="#cite_ref-108">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.sharptrader.com/feature/opec-extend-production-cuts-throughout-2018/">"OPEC to extend production cuts throughout 2018"</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20181224074148/https://www.sharptrader.com/feature/opec-extend-production-cuts-throughout-2018/">Archived</a> from the original on 24 December 2018. 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Reuters. 29 June 2019. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20190701211015/https://www.reuters.com/article/us-g20-summit-putin-opec-idUSKCN1TU0AF">Archived</a> from the original on 1 July 2019. Retrieved 1 July 2019.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Reuters&rft.atitle=Russia+agrees+with+Saudi+Arabia+to+extend+OPEC%2B+oil+output+deal&rft.date=2019-06-29&rft_id=https%3A%2F%2Fwww.reuters.com%2Farticle%2Fus-g20-summit-putin-opec-idUSKCN1TU0AF&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-112"><a href="#cite_ref-112">^</a> <cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.euronews.com/2019/10/01/ecuador-to-leave-opec-in-2020-due-to-fiscal-problems-ministry">"Ecuador to leave OPEC in 2020 due to fiscal problems – ministry"</a>. Euronews. 1 October 2019. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20191001210325/https://www.euronews.com/2019/10/01/ecuador-to-leave-opec-in-2020-due-to-fiscal-problems-ministry">Archived</a> from the original on 1 October 2019. 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Reuters. 5 December 2019. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20191205195453/https://www.reuters.com/article/us-oil-opec-idUSKBN1Y90UK">Archived</a> from the original on 5 December 2019. Retrieved 5 December 2019.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Reuters&rft.atitle=OPEC%2C+allies+agree+to+deepen+oil+output+cuts&rft.date=2019-12-05&rft_id=https%3A%2F%2Fwww.reuters.com%2Farticle%2Fus-oil-opec-idUSKBN1Y90UK&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-NYT_9March2020-114">^ <a href="#cite_ref-NYT_9March2020_114-0">a</a> <a href="#cite_ref-NYT_9March2020_114-1">b</a> <cite id="CITEREFReed2020" class="citation web cs1">Reed, Stanley (9 March 2020). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.nytimes.com/2020/03/09/business/energy-environment/oil-opec-saudi-russia.html">"How a Saudi-Russian Standoff Sent Oil Markets Into a Frenzy"</a>. The New York Times. 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Washington Post. 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Russia's chances look good"</a>. 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U.K. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20180622220328/https://uk.reuters.com/article/congorepublic-opec/congo-republic-becomes-opec-oil-cartels-newest-member-idUKL8N1TO3R2">Archived</a> from the original on 22 June 2018. Retrieved 22 June 2018.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=U.K.&rft.atitle=Congo+Republic+becomes+OPEC+oil+cartel%27s+newest+member&rft.aulast=Editorial&rft.aufirst=Reuters&rft_id=https%3A%2F%2Fuk.reuters.com%2Farticle%2Fcongorepublic-opec%2Fcongo-republic-becomes-opec-oil-cartels-newest-member-idUKL8N1TO3R2&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-136"><a href="#cite_ref-136">^</a> Excluding condensate oil production of nearly 20 million bbl/day </li> <li id="cite_note-137"><a href="#cite_ref-137">^</a> <cite id="CITEREFHaylerKeever2003" class="citation book cs1">Hayler, William B.; Keever, John M. (2003). American Merchant Seaman's Manual. Cornell Maritime Press. p. 14.3. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Special:BookSources/978-0-87033-549-5" title="Special:BookSources/978-0-87033-549-5"><bdi>978-0-87033-549-5</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=American+Merchant+Seaman%27s+Manual&rft.pages=14.3&rft.pub=Cornell+Maritime+Press&rft.date=2003&rft.isbn=978-0-87033-549-5&rft.aulast=Hayler&rft.aufirst=William+B.&rft.au=Keever%2C+John+M.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-138"><a href="#cite_ref-138">^</a> <cite id="CITEREFNoah2007" class="citation news cs1"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Timothy_Noah" title="Timothy Noah">Noah, Timothy</a> (10 July 2007). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.slate.com/articles/news_and_politics/chatterbox/2007/07/go_nopec.html">"Go NOPEC"</a>. Slate. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20120120182043/http://www.slate.com/articles/news_and_politics/chatterbox/2007/07/go_nopec.html">Archived</a> from the original on 20 January 2012. Retrieved 21 August 2009.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Slate&rft.atitle=Go+NOPEC&rft.date=2007-07-10&rft.aulast=Noah&rft.aufirst=Timothy&rft_id=http%3A%2F%2Fwww.slate.com%2Farticles%2Fnews_and_politics%2Fchatterbox%2F2007%2F07%2Fgo_nopec.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-139"><a href="#cite_ref-139">^</a> <cite id="CITEREFNoah2003" class="citation news cs1">Noah, Timothy (18 September 2003). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.slate.com/articles/news_and_politics/chatterbox/2003/09/is_bremer_a_price_fixer.html">"Is Bremer a Price Fixer? Letting Iraq's oil minister attend an OPEC meeting may violate the Sherman Antitrust Act"</a>. Slate. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160304095545/http://www.slate.com/articles/news_and_politics/chatterbox/2003/09/is_bremer_a_price_fixer.html">Archived</a> from the original on 4 March 2016. Retrieved 13 January 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Slate&rft.atitle=Is+Bremer+a+Price+Fixer%3F+Letting+Iraq%27s+oil+minister+attend+an+OPEC+meeting+may+violate+the+Sherman+Antitrust+Act&rft.date=2003-09-18&rft.aulast=Noah&rft.aufirst=Timothy&rft_id=http%3A%2F%2Fwww.slate.com%2Farticles%2Fnews_and_politics%2Fchatterbox%2F2003%2F09%2Fis_bremer_a_price_fixer.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-140"><a href="#cite_ref-140">^</a> <cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.arabnews.com/node/237468">"Iraq to Attend Next OPEC Ministerial Meeting"</a>. Arab News. 17 September 2003. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20130620075811/http://www.arabnews.com/node/237468">Archived</a> from the original on 20 June 2013. Retrieved 16 February 2013.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Arab+News&rft.atitle=Iraq+to+Attend+Next+OPEC+Ministerial+Meeting&rft.date=2003-09-17&rft_id=http%3A%2F%2Fwww.arabnews.com%2Fnode%2F237468&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-141"><a href="#cite_ref-141">^</a> <cite class="citation pressrelease cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.opec.org/opec_web/en/press_room/1077.htm">"127th Meeting of the OPEC Conference"</a>. OPEC (Press release). 24 September 2003. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20131004232402/http://www.opec.org/opec_web/en/press_room/1077.htm">Archived</a> from the original on 4 October 2013. Retrieved 16 February 2013.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=127th+Meeting+of+the+OPEC+Conference&rft.date=2003-09-24&rft_id=http%3A%2F%2Fwww.opec.org%2Fopec_web%2Fen%2Fpress_room%2F1077.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-142"><a href="#cite_ref-142">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.themoscowtimes.com/2019/12/04/6-things-opec-russia-a68409l">"6 Things You Need to Know About OPEC+"</a>. 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Retrieved 10 April 2020.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Oil+producers+agree+to+cut+production+by+a+tenth&rft_id=https%3A%2F%2Fwww.bbc.com%2Fnews%2Fbusiness-52226236&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-144"><a href="#cite_ref-144">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://oilprice.com/Energy/Crude-Oil/Is-US-Energy-Dominance-Coming-To-An-End.html">"Is U.S. Energy Dominance Coming To An End?"</a>. 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The Energy Journal. 17 (2): 43–57. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/CiteSeerX_(identifier)" class="mw-redirect" title="CiteSeerX (identifier)">CiteSeerX</a> <a rel="nofollow" class="external text" href="//web.archive.org/web/20200927210526/https://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.133.9886">10.1.1.133.9886</a>. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://doi.org/10.5547%2Fissn0195-6574-ej-vol17-no2-3">10.5547/issn0195-6574-ej-vol17-no2-3</a>. Archived from the original on 16 September 2000.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Energy+Journal&rft.atitle=Is+OPEC+a+Cartel%3F+Evidence+from+Cointegration+and+Causality+Tests&rft.volume=17&rft.issue=2&rft.pages=43-57&rft.date=1996&rft_id=%2F%2Fciteseerx.ist.psu.edu%2Fviewdoc%2Fsummary%3Fdoi%3D10.1.1.133.9886&rft_id=info%3Adoi%2F10.5547%2Fissn0195-6574-ej-vol17-no2-3&rft.aulast=G%C3%BClen&rft.aufirst=S.+G%C3%BCrcan&rft_id=http%3A%2F%2Ffmwww.bc.edu%2FEC-P%2FWP318.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988">CS1 maint: unfit url (<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Category:CS1_maint:_unfit_url" title="Category:CS1 maint: unfit url">link</a>)<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-148"><a href="#cite_ref-148">^</a> <cite class="citation journal cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.opec.org/opec_web/static_files_project/media/downloads/publications/OB06_072012.pdf">"The Global Energy Scene"</a> (PDF). 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Washington Post. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20161110043953/https://www.washingtonpost.com/news/monkey-cage/wp/2014/06/16/opec-the-phantom-menace/">Archived</a> from the original on 10 November 2016. 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Newsmax. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20140311012304/http://www.newsmax.com/Newsfront/opec-cartel-illegal/2009/12/12/id/341497">Archived</a> from the original on 11 March 2014. Retrieved 27 January 2014.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Newsmax&rft.atitle=If+OPEC+Is+a+Cartel%2C+Why+Isn%27t+It+Illegal%3F&rft.date=2007-11-25&rft.aulast=Weil&rft.aufirst=Dan&rft_id=http%3A%2F%2Fwww.newsmax.com%2FNewsfront%2Fopec-cartel-illegal%2F2009%2F12%2F12%2Fid%2F341497&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-154"><a href="#cite_ref-154">^</a> <cite id="CITEREFJoelsonGriffin1975" class="citation journal cs1">Joelson, Mark R.; Griffin, Joseph P. (1975). 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Retrieved 6 April 2016. <q>Varied forms of a NOPEC bill have been introduced some 16 times since 1999, only to be vehemently resisted by the oil industry.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Huffington+Post&rft.atitle=NOPEC+%28%27No+Oil+Producing+and+Exporting+Cartels+Act%27%29%3A+A+Presidential+Issue+and+a+Test+of+Political+Integrity&rft.date=2012-09-10&rft.aulast=Learsy&rft.aufirst=Raymond+J.&rft_id=https%3A%2F%2Fwww.huffingtonpost.com%2Fraymond-j-learsy%2Fnopec-no-oil-producing-an_b_1869803.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-156"><a href="#cite_ref-156">^</a> <cite id="CITEREFPalley2003" class="citation journal cs1">Palley, Thomas I. 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The National Interest. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160326124531/http://nationalinterest.org/feature/the-middle-easts-conflicts-are-about-religion-15205?page=show">Archived</a> from the original on 26 March 2016. Retrieved 17 March 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+National+Interest&rft.atitle=The+Middle+East%27s+Conflicts+Are+About+Religion&rft.date=2016-02-13&rft.aulast=Kessler&rft.aufirst=Oren&rft_id=http%3A%2F%2Fnationalinterest.org%2Ffeature%2Fthe-middle-easts-conflicts-are-about-religion-15205%3Fpage%3Dshow&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-159"><a href="#cite_ref-159">^</a> <cite id="CITEREFMotadel2015" class="citation news cs1">Motadel, David (24 May 2015). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.nytimes.com/2015/05/24/opinion/sunday/defending-the-faith-in-the-middle-east.html">"'Defending the Faith' in the Middle East"</a>. 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Encyclopedia of the Modern Middle East and North Africa. 3 (2nd ed.). Detroit: Gale / Macmillan Reference USA. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Special:BookSources/978-0028657691" title="Special:BookSources/978-0028657691"><bdi>978-0028657691</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160409042033/http://www.encyclopedia.com/topic/OPEC.aspx">Archived</a> from the original on 9 April 2016. 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OPEC. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20151224154110/http://www.opec.org/opec_web/en/publications/340.htm">Archived</a> from the original on 24 December 2015. Retrieved 31 December 2015.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=OPEC&rft.atitle=World+Oil+Outlook&rft_id=http%3A%2F%2Fwww.opec.org%2Fopec_web%2Fen%2Fpublications%2F340.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-163"><a href="#cite_ref-163">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.opec.org/opec_web/en/publications/338.htm">"Monthly Oil Market Report"</a>. 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BBC News. 18 October 2007. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20180913114404/http://news.bbc.co.uk/2/hi/business/904748.stm">Archived</a> from the original on 13 September 2018. 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The World Bank. pp. 65–69. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Special:BookSources/978-0-8213-1199-8" title="Special:BookSources/978-0-8213-1199-8"><bdi>978-0-8213-1199-8</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20170205095734/http://documents.worldbank.org/curated/en/603911468739482147/pdf/multi-page.pdf">Archived</a> (PDF) from the original on 5 February 2017. Retrieved 4 February 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+new+era+of+petroleum+trading%3A+spot-oil%2C+spot-related+contracts%2C+and+futures+markets&rft.pages=65-69&rft.pub=The+World+Bank&rft.date=1989-04&rft.isbn=978-0-8213-1199-8&rft.aulast=Razavi&rft.aufirst=Hossein&rft_id=http%3A%2F%2Fdocuments.worldbank.org%2Fcurated%2Fen%2F603911468739482147%2Fpdf%2Fmulti-page.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-basket-167"><a href="#cite_ref-basket_167-0">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.opec.org/opec_web/en/data_graphs/40.htm">"OPEC Basket Price"</a>. OPEC. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20190501131417/https://www.opec.org/opec_web/en/data_graphs/40.htm">Archived</a> from the original on 1 May 2019. Retrieved 6 January 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=OPEC&rft.atitle=OPEC+Basket+Price&rft_id=http%3A%2F%2Fwww.opec.org%2Fopec_web%2Fen%2Fdata_graphs%2F40.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-168"><a href="#cite_ref-168">^</a> <cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/8429184/Brent-crude-and-other-oil-price-benchmarks.html">"Brent crude and other oil price benchmarks"</a>. Reuters. 5 April 2011. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20170925075958/http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/8429184/Brent-crude-and-other-oil-price-benchmarks.html">Archived</a> from the original on 25 September 2017. Retrieved 4 April 2018.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Brent+crude+and+other+oil+price+benchmarks&rft.date=2011-04-05&rft_id=https%3A%2F%2Fwww.telegraph.co.uk%2Ffinance%2Fnewsbysector%2Fenergy%2Foilandgas%2F8429184%2FBrent-crude-and-other-oil-price-benchmarks.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-169"><a href="#cite_ref-169">^</a> <cite class="citation journal cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20160502040956/http://www.iea.org/media/ieajournal/Issue7_WEB.pdf">"'Effective' OPEC Spare Capacity: Reality-Based Data"</a> (PDF). IEA Energy (7): 13. November 2014. Archived from <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.iea.org/media/ieajournal/Issue7_WEB.pdf">the original</a> (PDF) on 2 May 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=IEA+Energy&rft.atitle=%27Effective%27+OPEC+Spare+Capacity%3A+Reality-Based+Data&rft.issue=7&rft.pages=13&rft.date=2014-11&rft_id=http%3A%2F%2Fwww.iea.org%2Fmedia%2Fieajournal%2FIssue7_WEB.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> <li id="cite_note-170"><a href="#cite_ref-170">^</a> <cite class="citation journal cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.iea.org/oilmarketreport/reports/2015/1115/">"3 billion barrel cushion"</a>. Oil Market Report. 13 November 2015. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://web.archive.org/web/20151222164633/https://www.iea.org/oilmarketreport/reports/2015/1115/">Archived</a> from the original on 22 December 2015. Retrieved 15 December 2015.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Oil+Market+Report&rft.atitle=3+billion+barrel+cushion&rft.date=2015-11-13&rft_id=https%3A%2F%2Fwww.iea.org%2Foilmarketreport%2Freports%2F2015%2F1115%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/> </li> </ol></div></div> <h2>Further reading[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=30" title="Edit section: Further reading">edit</a>]</h2> <ul><li>Evans, John (1986). OPEC, Its Member States and the World Energy Market. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/><a href="/web/20200927210526/https://en.wikipedia.org/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Special:BookSources/978-0810321489" title="Special:BookSources/978-0810321489">978-0810321489</a>.</li> <li>Fesharaki, Fereidun (1983). OPEC, the Gulf, and the World Petroleum Market: A Study in Government Policy and Downstream Operations. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/><a href="/web/20200927210526/https://en.wikipedia.org/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Special:BookSources/9780367281939" title="Special:BookSources/9780367281939">9780367281939</a>.</li> <li>Garavini, Giuliano. (2019). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://global.oup.com/academic/product/the-rise-and-fall-of-opec-in-the-twentieth-century-9780198832836?cc=us&lang=en&">The Rise and Fall of OPEC in the Twentieth Century</a>. Oxford University Press.</li> <li><cite id="CITEREFLicklider1988" class="citation journal cs1">Licklider, Roy (1988). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://pdfs.semanticscholar.org/92db/ddba23893560a127a5ec353346b5af1feeb6.pdf">"The Power of Oil: The Arab Oil Weapon and the Netherlands, the United Kingdom, Canada, Japan, and the United States"</a> (PDF). International Studies Quarterly. 32 (2): 205–226. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://doi.org/10.2307%2F2600627">10.2307/2600627</a>. <a href="/web/20200927210526/https://en.wikipedia.org/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="//web.archive.org/web/20200927210526/https://www.jstor.org/stable/2600627">2600627</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=International+Studies+Quarterly&rft.atitle=The+Power+of+Oil%3A+The+Arab+Oil+Weapon+and+the+Netherlands%2C+the+United+Kingdom%2C+Canada%2C+Japan%2C+and+the+United+States&rft.volume=32&rft.issue=2&rft.pages=205-226&rft.date=1988&rft_id=info%3Adoi%2F10.2307%2F2600627&rft_id=%2F%2Fwww.jstor.org%2Fstable%2F2600627&rft.aulast=Licklider&rft.aufirst=Roy&rft_id=http%3A%2F%2Fpdfs.semanticscholar.org%2F92db%2Fddba23893560a127a5ec353346b5af1feeb6.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988">CS1 maint: ref=harv (<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Category:CS1_maint:_ref%3Dharv" title="Category:CS1 maint: ref=harv">link</a>)<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/></li> <li>Painter, David S (2014). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/https://www.ssoar.info/ssoar/bitstream/handle/document/40394/ssoar-hsr-2014-4-painter-Oil_and_geopolitics_the_oil.pdf?sequence=1">"Oil and geopolitics: The oil crises of the 1970s and the cold war"</a>. Historical Social Research/Historische Sozialforschung. 186–208.</li> <li>Skeet, Ian (1988). OPEC: Twenty-five Years of Prices and Politics. Cambridge UP. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/><a href="/web/20200927210526/https://en.wikipedia.org/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Special:BookSources/978-0521405720" title="Special:BookSources/978-0521405720">978-0521405720</a></li> <li>Yergin, Daniel (1991). The Prize: The Epic Quest for Oil, Money, and Power. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r951705291"/><a href="/web/20200927210526/https://en.wikipedia.org/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Special:BookSources/978-1439110126" title="Special:BookSources/978-1439110126">978-1439110126</a></li></ul> <h2>External links[<a href="/web/20200927210526/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=31" title="Edit section: External links">edit</a>]</h2> <table role="presentation" class="mbox-small plainlinks sistersitebox" style="background-color:#f9f9f9;border:1px solid #aaa;color:#000"> <tbody><tr> <td class="mbox-image"><img alt="" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/30px-Commons-logo.svg.png" decoding="async" width="30" height="40" class="noviewer" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/45px-Commons-logo.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/59px-Commons-logo.svg.png 2x" data-file-width="1024" data-file-height="1376"/></td> <td class="mbox-text plainlist">Wikimedia Commons has media related to <a href="https://web.archive.org/web/20200927210526/https://commons.wikimedia.org/wiki/Category:OPEC" class="extiw" title="commons:Category:OPEC">OPEC</a>.</td></tr> </tbody></table> <ul><li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.opec.org/">Official website</a></li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200927210526/http://www.ofid.org/">The OPEC Fund for International Development (OFID) official website</a></li></ul> <div role="navigation" class="navbox" aria-labelledby="Organization_of_the_Petroleum_Exporting_Countries_(OPEC)" style="padding:3px"><table class="nowraplinks mw-collapsible expanded navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div class="plainlinks hlist navbar mini"><ul><li class="nv-view"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Template:OPEC" title="Template:OPEC"><abbr title="View this template" style=";;background:none transparent;border:none;-moz-box-shadow:none;-webkit-box-shadow:none;box-shadow:none; padding:0;">v</abbr></a></li><li class="nv-talk"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Template_talk:OPEC" title="Template talk:OPEC"><abbr title="Discuss this template" style=";;background:none transparent;border:none;-moz-box-shadow:none;-webkit-box-shadow:none;box-shadow:none; padding:0;">t</abbr></a></li><li class="nv-edit"><a class="external text" href="https://web.archive.org/web/20200927210526/https://en.wikipedia.org/w/index.php?title=Template:OPEC&action=edit"><abbr title="Edit this template" style=";;background:none transparent;border:none;-moz-box-shadow:none;-webkit-box-shadow:none;box-shadow:none; padding:0;">e</abbr></a></li></ul></div><div id="Organization_of_the_Petroleum_Exporting_Countries_(OPEC)" style="font-size:114%;margin:0 4em"><a class="mw-selflink selflink">Organization of the Petroleum Exporting Countries</a> (OPEC)</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd hlist" style="width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Economy_of_Algeria" title="Economy of Algeria">Algeria</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Economy_of_Angola" title="Economy of Angola">Angola</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Economy_of_Equatorial_Guinea" title="Economy of Equatorial Guinea">Equatorial Guinea</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Economy_of_Gabon" title="Economy of Gabon">Gabon</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Economy_of_Iran" title="Economy of Iran">Iran</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Economy_of_Iraq" title="Economy of Iraq">Iraq</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Economy_of_Kuwait" title="Economy of Kuwait">Kuwait</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Economy_of_Libya" title="Economy of Libya">Libya</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Economy_of_Nigeria" title="Economy of Nigeria">Nigeria</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Economy_of_the_Republic_of_the_Congo" title="Economy of the Republic of the Congo">Republic of the Congo</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Economy_of_Saudi_Arabia" title="Economy of Saudi Arabia">Saudi Arabia</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Economy_of_the_United_Arab_Emirates" title="Economy of the United Arab Emirates">United Arab Emirates</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Economy_of_Venezuela" title="Economy of Venezuela">Venezuela</a></li></ul> </div></td></tr><tr><td colspan="2" class="navbox-list navbox-even hlist" style="width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_Secretaries_General_of_OPEC" title="List of Secretaries General of OPEC">List of Secretaries General</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/OPEC_Fund_for_International_Development" title="OPEC Fund for International Development">OPEC Fund for International Development</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/OPEC_Reference_Basket" title="OPEC Reference Basket">OPEC Reference Basket</a></li></ul> </div></td></tr></tbody></table></div> <div role="navigation" class="navbox" aria-labelledby="Heads_of_state_of_OPEC_member_states" style="padding:3px"><table class="nowraplinks mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div class="plainlinks hlist navbar mini"><ul><li class="nv-view"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Template:Heads_of_state_of_OPEC_member_states" title="Template:Heads of state of OPEC member states"><abbr title="View this template" style=";;background:none transparent;border:none;-moz-box-shadow:none;-webkit-box-shadow:none;box-shadow:none; padding:0;">v</abbr></a></li><li class="nv-talk"><a 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href="/web/20200927210526/https://en.wikipedia.org/wiki/OPEC#Membership" title="OPEC">member states</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd hlist" style="width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Algeria" title="Algeria"><img alt="Algeria" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/23px-Flag_of_Algeria.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/35px-Flag_of_Algeria.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/45px-Flag_of_Algeria.svg.png 2x" data-file-width="900" data-file-height="600"/></a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Abdelmadjid_Tebboune" title="Abdelmadjid Tebboune">Tebboune</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Angola" title="Angola"><img alt="Angola" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/23px-Flag_of_Angola.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/35px-Flag_of_Angola.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/45px-Flag_of_Angola.svg.png 2x" data-file-width="900" data-file-height="600"/></a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Jo%C3%A3o_Louren%C3%A7o" title="João Lourenço">Lourenço</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Equatorial_Guinea" title="Equatorial Guinea"><img alt="Equatorial Guinea" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/23px-Flag_of_Equatorial_Guinea.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/35px-Flag_of_Equatorial_Guinea.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/45px-Flag_of_Equatorial_Guinea.svg.png 2x" data-file-width="1200" data-file-height="800"/></a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Teodoro_Obiang_Nguema_Mbasogo" title="Teodoro Obiang Nguema Mbasogo">Obiang</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gabon" title="Gabon"><img alt="Gabon" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/20px-Flag_of_Gabon.svg.png" decoding="async" width="20" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/31px-Flag_of_Gabon.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/40px-Flag_of_Gabon.svg.png 2x" data-file-width="1000" data-file-height="750"/></a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Ali_Bongo_Ondimba" title="Ali Bongo Ondimba">Bongo</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iran" title="Iran"><img alt="Iran" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/23px-Flag_of_Iran.svg.png" decoding="async" width="23" height="13" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/35px-Flag_of_Iran.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/46px-Flag_of_Iran.svg.png 2x" data-file-width="630" data-file-height="360"/></a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Hassan_Rouhani" title="Hassan Rouhani">Rouhani</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iraq" title="Iraq"><img alt="Iraq" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/23px-Flag_of_Iraq.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/35px-Flag_of_Iraq.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/45px-Flag_of_Iraq.svg.png 2x" data-file-width="900" data-file-height="600"/></a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Barham_Salih" title="Barham Salih">Salih</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Kuwait" title="Kuwait"><img alt="Kuwait" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/23px-Flag_of_Kuwait.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/35px-Flag_of_Kuwait.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/46px-Flag_of_Kuwait.svg.png 2x" data-file-width="1200" data-file-height="600"/></a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Sabah_Al-Ahmad_Al-Jaber_Al-Sabah" title="Sabah Al-Ahmad Al-Jaber Al-Sabah">Sabah</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Libya" title="Libya"><img alt="Libya" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/23px-Flag_of_Libya.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/35px-Flag_of_Libya.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/46px-Flag_of_Libya.svg.png 2x" data-file-width="960" data-file-height="480"/></a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Fayez_al-Sarraj" title="Fayez al-Sarraj">Sarraj</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Nigeria" title="Nigeria"><img alt="Nigeria" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/23px-Flag_of_Nigeria.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/35px-Flag_of_Nigeria.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/46px-Flag_of_Nigeria.svg.png 2x" data-file-width="1200" data-file-height="600"/></a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Muhammadu_Buhari" title="Muhammadu Buhari">Buhari</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Republic_of_the_Congo" title="Republic of the Congo"><img alt="Republic of the Congo" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/23px-Flag_of_the_Republic_of_the_Congo.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/35px-Flag_of_the_Republic_of_the_Congo.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/45px-Flag_of_the_Republic_of_the_Congo.svg.png 2x" data-file-width="900" data-file-height="600"/></a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Denis_Sassou_Nguesso" title="Denis Sassou Nguesso">Nguesso</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Saudi_Arabia" title="Saudi Arabia"><img alt="Saudi Arabia" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/23px-Flag_of_Saudi_Arabia.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/35px-Flag_of_Saudi_Arabia.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/45px-Flag_of_Saudi_Arabia.svg.png 2x" data-file-width="750" data-file-height="500"/></a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Salman_of_Saudi_Arabia" title="Salman of Saudi Arabia">Salman</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/United_Arab_Emirates" title="United Arab Emirates"><img alt="United Arab Emirates" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/23px-Flag_of_the_United_Arab_Emirates.svg.png" decoding="async" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/35px-Flag_of_the_United_Arab_Emirates.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/46px-Flag_of_the_United_Arab_Emirates.svg.png 2x" data-file-width="1200" data-file-height="600"/></a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Khalifa_bin_Zayed_Al_Nahyan" title="Khalifa bin Zayed Al Nahyan">Khalifa</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Venezuela" title="Venezuela"><img alt="Venezuela" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/23px-Flag_of_Venezuela.svg.png" decoding="async" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/35px-Flag_of_Venezuela.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/45px-Flag_of_Venezuela.svg.png 2x" data-file-width="900" data-file-height="600"/></a> <a href="/web/20200927210526/https://en.wikipedia.org/wiki/Nicol%C3%A1s_Maduro" title="Nicolás Maduro">Maduro</a>/<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Juan_Guaid%C3%B3" title="Juan Guaidó">Guaidó</a>1</li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div>Acting heads of state shown in italics. 1 Recognized by <a href="/web/20200927210526/https://en.wikipedia.org/wiki/National_Assembly_(Venezuela)" title="National Assembly (Venezuela)">National Assembly</a> as Interim President of Venezuela but not recognized by president Maduro as his successor during the <a href="/web/20200927210526/https://en.wikipedia.org/wiki/2019_Venezuelan_presidential_crisis" class="mw-redirect" title="2019 Venezuelan presidential crisis">Presidential crisis</a>.</div></td></tr></tbody></table></div> <div role="navigation" class="navbox" aria-labelledby="Petroleum_industry" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div class="plainlinks hlist navbar mini"><ul><li class="nv-view"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Template:Petroleum_industry" title="Template:Petroleum industry"><abbr title="View this template" style=";;background:none transparent;border:none;-moz-box-shadow:none;-webkit-box-shadow:none;box-shadow:none; padding:0;">v</abbr></a></li><li class="nv-talk"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Template_talk:Petroleum_industry" title="Template talk:Petroleum industry"><abbr title="Discuss this template" style=";;background:none transparent;border:none;-moz-box-shadow:none;-webkit-box-shadow:none;box-shadow:none; padding:0;">t</abbr></a></li><li class="nv-edit"><a class="external text" href="https://web.archive.org/web/20200927210526/https://en.wikipedia.org/w/index.php?title=Template:Petroleum_industry&action=edit"><abbr title="Edit this template" style=";;background:none transparent;border:none;-moz-box-shadow:none;-webkit-box-shadow:none;box-shadow:none; padding:0;">e</abbr></a></li></ul></div><div id="Petroleum_industry" style="font-size:114%;margin:0 4em"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petroleum_industry" title="Petroleum industry">Petroleum industry</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div id="*_Petroleum_*_Primary_energy"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petroleum" title="Petroleum">Petroleum</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Primary_energy" title="Primary energy">Primary energy</a></li></ul> </div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Benchmark_(crude_oil)" title="Benchmark (crude oil)">Benchmarks</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Argus_Sour_Crude_Index" title="Argus Sour Crude Index">Argus Sour</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Bonny_Light_oil" title="Bonny Light oil">Bonny Light</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Brent_Crude" title="Brent Crude">Brent</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Dubai_Crude" title="Dubai Crude">Dubai</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Indian_Basket" title="Indian Basket">Indian Basket</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Indonesian_Crude_Price" title="Indonesian Crude Price">Indonesian</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Isthmus-34_Light" title="Isthmus-34 Light">Isthmus-34 Light</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Japan_Crude_Cocktail" title="Japan Crude Cocktail">Japan Cocktail</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/OPEC_Reference_Basket" title="OPEC Reference Basket">OPEC Reference Basket</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Tapis_crude" title="Tapis crude">Tapis</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Urals_oil" title="Urals oil">Urals</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/West_Texas_Intermediate" title="West Texas Intermediate">West Texas Intermediate</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Western_Canadian_Select" title="Western Canadian Select">Western Canadian Select</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;">Data</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;font-weight:normal;">Natural gas</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_natural_gas_consumption" title="List of countries by natural gas consumption">Consumption</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_natural_gas_production" title="List of countries by natural gas production">Production</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_natural_gas_proven_reserves" title="List of countries by natural gas proven reserves">Reserves</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_natural_gas_imports" title="List of countries by natural gas imports">Imports</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_natural_gas_exports" title="List of countries by natural gas exports">Exports</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Natural_gas_prices" title="Natural gas prices">Price</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;font-weight:normal;">Petroleum</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_oil_consumption" title="List of countries by oil consumption">Consumption</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_oil_production" title="List of countries by oil production">Production</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves" title="List of countries by proven oil reserves">Reserves</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_oil_imports" title="List of countries by oil imports">Imports</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_countries_by_oil_exports" title="List of countries by oil exports">Exports</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Price_of_oil" title="Price of oil">Price</a> (<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gasoline_and_diesel_usage_and_pricing" title="Gasoline and diesel usage and pricing">of gasoline and diesel</a>)</li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Posted_price" class="mw-redirect" title="Posted price">Posted price</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Hydrocarbon_exploration" title="Hydrocarbon exploration">Exploration</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Core_sample" title="Core sample">Core sampling</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Exploration_geophysics" title="Exploration geophysics">Geophysics</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Integrated_asset_modelling" title="Integrated asset modelling">Integrated asset modelling</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petroleum_engineering" title="Petroleum engineering">Petroleum engineering</a> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Reservoir_simulation" title="Reservoir simulation">Reservoir simulation</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Seismic_to_simulation" class="mw-redirect" title="Seismic to simulation">Seismic to simulation</a></li></ul></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petroleum_geology" title="Petroleum geology">Petroleum geology</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petrophysics" title="Petrophysics">Petrophysics</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Reflection_seismology" title="Reflection seismology">Reflection seismology</a> (<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Seismic_inversion" title="Seismic inversion">Seismic inversion</a>)</li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Seismic_source" title="Seismic source">Seismic source</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Oil_well" title="Oil well">Drilling</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Blowout_(well_drilling)" title="Blowout (well drilling)">Blowout</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Completion_(oil_and_gas_wells)" title="Completion (oil and gas wells)">Completion</a> (<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Squeeze_job" title="Squeeze job">Squeeze job</a>)</li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Differential_sticking" title="Differential sticking">Differential sticking</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Directional_drilling" title="Directional drilling">Directional drilling</a> (<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Geosteering" title="Geosteering">Geosteering</a>)</li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Drilling_engineering" title="Drilling engineering">Drilling engineering</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Drilling_fluid" title="Drilling fluid">Drilling fluid</a> (<a href="/web/20200927210526/https://en.wikipedia.org/wiki/Drilling_fluid_invasion" title="Drilling fluid invasion">invasion</a>)</li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Drill_stem_test" title="Drill stem test">Drill stem test</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Lost_circulation" title="Lost circulation">Lost circulation</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Measurement_while_drilling" title="Measurement while drilling">Measurement</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Tracer_use_in_the_oil_industry" title="Tracer use in the oil industry">Tracers</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Shale_oil_extraction" title="Shale oil extraction">Shale oil extraction</a> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Fredrik_Ljungstr%C3%B6m#Shale_oil_extraction" title="Fredrik Ljungström">Ljungström method</a></li></ul></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Underbalanced_drilling" title="Underbalanced drilling">Underbalanced drilling</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Well_logging" title="Well logging">Well logging</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Extraction_of_petroleum" title="Extraction of petroleum">Production</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petroleum_fiscal_regime" title="Petroleum fiscal regime">Petroleum fiscal regime</a> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petroleum_licensing" title="Petroleum licensing">Concessions</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Production_sharing_agreement" title="Production sharing agreement">Production sharing agreements</a></li></ul></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Artificial_lift" title="Artificial lift">Artificial lift</a> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Pumpjack" title="Pumpjack">Pumpjack</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Submersible_pump" title="Submersible pump">Submersible pump (ESP)</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gas_lift" title="Gas lift">Gas lift</a></li></ul></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Downstream_(petroleum_industry)" title="Downstream (petroleum industry)">Downstream</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Enhanced_oil_recovery" title="Enhanced oil recovery">Enhanced oil recovery (EOR)</a> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Steam_injection_(oil_industry)" title="Steam injection (oil industry)">Steam injection</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gas_reinjection" title="Gas reinjection">Gas reinjection</a></li></ul></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Midstream" title="Midstream">Midstream</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petroleum_product" title="Petroleum product">Petroleum product</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Pipeline_transport" title="Pipeline transport">Pipeline transport</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Oil_refinery" title="Oil refinery">Refining</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Upstream_(petroleum_industry)" title="Upstream (petroleum industry)">Upstream</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Water_injection_(oil_production)" title="Water injection (oil production)">Water injection</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Well_intervention" title="Well intervention">Well intervention</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Christmas_tree_(oil_well)" title="Christmas tree (oil well)">XT</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Category:History_of_the_petroleum_industry" title="Category:History of the petroleum industry">History</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/1967_Oil_Embargo" title="1967 Oil Embargo">1967 Oil Embargo</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/1973_oil_crisis" title="1973 oil crisis">1973 oil crisis</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/1979_energy_crisis" class="mw-redirect" title="1979 energy crisis">1979 energy crisis</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/1980s_oil_glut" title="1980s oil glut">1980s oil glut</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/1990_oil_price_shock" title="1990 oil price shock">1990 oil price shock</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/2000s_energy_crisis" title="2000s energy crisis">2000s energy crisis</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/2010s_oil_glut" title="2010s oil glut">2010s oil glut</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/2020_Russia%E2%80%93Saudi_Arabia_oil_price_war" title="2020 Russia–Saudi Arabia oil price war">2020 oil price war</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Category:Founders_of_the_petroleum_industry" title="Category:Founders of the petroleum industry">Founders</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/History_of_the_petroleum_industry" title="History of the petroleum industry">History of the petroleum industry</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Nationalization_of_oil_supplies" title="Nationalization of oil supplies">Nationalization</a></li> <li><a class="mw-selflink selflink">OPEC</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gas_Exporting_Countries_Forum" title="Gas Exporting Countries Forum">GECF</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Seven_Sisters_(oil_companies)" title="Seven Sisters (oil companies)">Seven Sisters</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Standard_Oil" title="Standard Oil">Standard Oil</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Category:Oil_market_timelines" title="Category:Oil market timelines">Oil market timelines</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petroleum_industry_in_Iraq" title="Petroleum industry in Iraq">Petroleum industry in Iraq</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;">Provinces and fields</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_natural_gas_fields" title="List of natural gas fields">List of natural gas fields</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_oil_fields" title="List of oil fields">List of oil fields</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Caspian_Sea" title="Caspian Sea">Caspian Sea</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/East_Midlands_Oil_Province" title="East Midlands Oil Province">East Midlands Oil Province</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/East_Texas_Oil_Field" title="East Texas Oil Field">East Texas</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gulf_of_Mexico" title="Gulf of Mexico">Gulf of Mexico</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Niger_Delta#Nigerian_oil" title="Niger Delta">Niger Delta</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/North_Sea_oil" title="North Sea oil">North Sea</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Permian_Basin_(North_America)" title="Permian Basin (North America)">Permian Basin</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Persian_Gulf" title="Persian Gulf">Persian Gulf</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Prudhoe_Bay_Oil_Field" title="Prudhoe Bay Oil Field">Prudhoe Bay</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Oil_reserves_in_Russia" title="Oil reserves in Russia">Russia</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Oil_reserves_in_Venezuela" title="Oil reserves in Venezuela">Venezuela</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Western_Canadian_Sedimentary_Basin" title="Western Canadian Sedimentary Basin">Western Canadian Sedimentary Basin</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;">Other topics</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_acronyms_in_oil_and_gas_exploration_and_production" class="mw-redirect" title="List of acronyms in oil and gas exploration and production">Acronyms</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Oil_shale_gas" title="Oil shale gas">Oil shale gas</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Peak_oil" title="Peak oil">Peak oil</a> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Mitigation_of_peak_oil" title="Mitigation of peak oil">mitigation</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Predicting_the_timing_of_peak_oil" title="Predicting the timing of peak oil">timing</a></li></ul></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Category:People_in_the_petroleum_industry" title="Category:People in the petroleum industry">People</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petrocurrency" title="Petrocurrency">Petrocurrency</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petrodollar_recycling" title="Petrodollar recycling">Petrodollar recycling</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Shale_band" title="Shale band">Shale band</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Shale_gas" title="Shale gas">Shale gas</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Swing_producer" title="Swing producer">Swing producer</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Unconventional_oil" title="Unconventional oil">Unconventional oil</a> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Heavy_crude_oil" title="Heavy crude oil">heavy crude</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Oil_sands" title="Oil sands">oil sands</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Oil_shale" title="Oil shale">oil shale</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Tight_oil" title="Tight oil">tight oil</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Companies_and_organisations" style="font-size:114%;margin:0 4em">Companies and organisations</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th id="Major_petroleumcompanies" scope="row" class="navbox-group" style="width:1%;text-align:left;"><div style="display:inline-block; padding:0.1em 0;line-height:1.2em;">Major <a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_oil_exploration_and_production_companies" title="List of oil exploration and production companies">petroleum companies</a></div></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;font-weight:normal;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Big_Oil" title="Big Oil">Supermajors</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/BP" title="BP">BP</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Chevron_Corporation" title="Chevron Corporation">Chevron</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Eni" title="Eni">Eni</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/ExxonMobil" title="ExxonMobil">ExxonMobil</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Royal_Dutch_Shell" title="Royal Dutch Shell">Royal Dutch Shell</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Total_S.A." class="mw-redirect" title="Total S.A.">Total</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;font-weight:normal;"><div style="display:inline-block; padding:0.1em 0;line-height:1.2em;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/National_oil_company" title="National oil company">National oil companies</a></div></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Abu_Dhabi_National_Oil_Company" title="Abu Dhabi National Oil Company">ADNOC</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Bharat_Petroleum" title="Bharat Petroleum">Bharat Petroleum</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/China_National_Offshore_Oil_Corporation" title="China National Offshore Oil Corporation">CNOOC</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/China_National_Petroleum_Corporation" title="China National Petroleum Corporation">CNPC</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Ecopetrol" title="Ecopetrol">Ecopetrol</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Equinor" title="Equinor">Equinor</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gazprom" title="Gazprom">Gazprom</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Hindustan_Petroleum" title="Hindustan Petroleum">Hindustan Petroleum</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Iraq_National_Oil_Company" title="Iraq National Oil Company">Iraq National Oil Company</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Indian_Oil_Corporation" title="Indian Oil Corporation">Indian Oil Corporation</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/KazMunayGas" title="KazMunayGas">KazMunayGas</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Kuwait_Petroleum_Corporation" title="Kuwait Petroleum Corporation">Kuwait Petroleum Corporation</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Grupa_Lotos" title="Grupa Lotos">Lotos</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Naftogaz" title="Naftogaz">Naftogaz</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Nigerian_National_Petroleum_Corporation" title="Nigerian National Petroleum Corporation">Nigerian National Petroleum Corporation</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/National_Iranian_Oil_Company" title="National Iranian Oil Company">NIOC</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/National_Iranian_South_Oil_Company" title="National Iranian South Oil Company">NISOC</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Oil_and_Gas_Development_Company" class="mw-redirect" title="Oil and Gas Development Company">OGDCL</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Oil_and_Natural_Gas_Corporation" title="Oil and Natural Gas Corporation">ONGC</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/PDVSA" title="PDVSA">PDVSA</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/PKN_Orlen" title="PKN Orlen">PKN Orlen</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Pemex" title="Pemex">Pemex</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Pertamina" title="Pertamina">Pertamina</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petrobangla" title="Petrobangla">Petrobangla</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petrobras" title="Petrobras">Petrobras</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/PetroChina" title="PetroChina">PetroChina</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petronas" title="Petronas">Petronas</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petrovietnam" title="Petrovietnam">Petrovietnam</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/PTT_Public_Company_Limited" title="PTT Public Company Limited">PTT</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Qatar_Petroleum" title="Qatar Petroleum">Qatar Petroleum</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Rosneft" title="Rosneft">Rosneft</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Saudi_Aramco" title="Saudi Aramco">Saudi Aramco</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Sinopec" title="Sinopec">Sinopec</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/SOCAR" title="SOCAR">SOCAR</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Sonangol_Group" title="Sonangol Group">Sonangol</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Sonatrach" title="Sonatrach">Sonatrach</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/T%C3%BCrkiye_Petrolleri_Anonim_Ortakl%C4%B1%C4%9F%C4%B1" class="mw-redirect" title="Türkiye Petrolleri Anonim Ortaklığı">TPAO</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/YPF" title="YPF">YPF</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;font-weight:normal;"><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Energy_trading" class="mw-redirect" title="Energy trading">Energy trading</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Glencore" title="Glencore">Glencore</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Gunvor_(company)" class="mw-redirect" title="Gunvor (company)">Gunvor</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Mercuria_Energy_Group" class="mw-redirect" title="Mercuria Energy Group">Mercuria</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Naftiran_Intertrade" title="Naftiran Intertrade">Naftiran Intertrade</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Trafigura" title="Trafigura">Trafigura</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Vitol" title="Vitol">Vitol</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;font-weight:normal;">Other</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Apache_Corporation" title="Apache Corporation">Apache</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Cenovus_Energy" title="Cenovus Energy">Cenovus Energy</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Compa%C3%B1%C3%ADa_Espa%C3%B1ola_de_Petr%C3%B3leos" class="mw-redirect" title="Compañía Española de Petróleos">Compañía Española de Petróleos</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/ConocoPhillips" title="ConocoPhillips">ConocoPhillips</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Devon_Energy" title="Devon Energy">Devon</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Galp_Energia" title="Galp Energia">Galp Energia</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Hess_Corporation" title="Hess Corporation">Hess</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Husky_Energy" title="Husky Energy">Husky Energy</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Imperial_Oil" title="Imperial Oil">Imperial Oil</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/JXTG_Holdings" title="JXTG Holdings">JXTG Holdings</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Lukoil" title="Lukoil">Lukoil</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Marathon_Oil" title="Marathon Oil">Marathon Oil</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Occidental_Petroleum" title="Occidental Petroleum">Occidental</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/OMV" title="OMV">OMV</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Port_Harcourt_Refining_Company" title="Port Harcourt Refining Company">Port Harcourt Refining Company</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Reliance_Industries" title="Reliance Industries">Reliance Industries</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Repsol" title="Repsol">Repsol</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Suncor_Energy" title="Suncor Energy">Suncor Energy</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Surgutneftegas" title="Surgutneftegas">Surgutneftegas</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/TNK-BP" title="TNK-BP">TNK-BP</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Tullow_Oil" title="Tullow Oil">Tullow Oil</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/T%C3%BCpra%C5%9F" title="Tüpraş">Tüpraş</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;"><div style="display:inline-block; padding:0.1em 0;line-height:1.2em;">Major <a href="/web/20200927210526/https://en.wikipedia.org/wiki/List_of_oilfield_service_companies" title="List of oilfield service companies">services companies</a></div></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Amec_Foster_Wheeler" title="Amec Foster Wheeler">Amec Foster Wheeler</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Baker_Hughes" title="Baker Hughes">Baker Hughes</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Cameron_International" title="Cameron International">Cameron</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/CGG_(company)" title="CGG (company)">CGG</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/CH2M_Hill" title="CH2M Hill">CH2M Hill</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Chicago_Bridge_%26_Iron_Company" title="Chicago Bridge & Iron Company">Chicago Bridge & Iron Company</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/China_Oilfield_Services" title="China Oilfield Services">China Oilfield Services</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Enbridge" title="Enbridge">Enbridge</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/GE_Power" title="GE Power">GE Power</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Halliburton" title="Halliburton">Halliburton</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Nabors_Industries" title="Nabors Industries">Nabors Industries</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Naftiran_Intertrade" title="Naftiran Intertrade">Naftiran Intertrade</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/National_Oilwell_Varco" title="National Oilwell Varco">National Oilwell Varco</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Petrofac" title="Petrofac">Petrofac</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Saipem" title="Saipem">Saipem</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Schlumberger" title="Schlumberger">Schlumberger</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Snam" title="Snam">Snam</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Subsea_7" title="Subsea 7">Subsea 7</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/TransCanada_Corporation" class="mw-redirect" title="TransCanada Corporation">TransCanada</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Transocean" title="Transocean">Transocean</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Valaris_plc" title="Valaris plc">Valaris plc</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Weatherford_International" title="Weatherford International">Weatherford</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Wood_Group" class="mw-redirect" title="Wood Group">Wood Group</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;">Other</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Canadian_Petroleum_Companies" class="mw-redirect" title="Canadian Petroleum Companies">Canadian Petroleum Companies</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/International_Association_of_Oil_%26_Gas_Producers" title="International Association of Oil & Gas Producers">International Association of Oil & Gas Producers</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/International_Energy_Agency" title="International Energy Agency">International Energy Agency</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/International_Petroleum_Exchange" class="mw-redirect" title="International Petroleum Exchange">International Petroleum Exchange</a></li> <li><a class="mw-selflink selflink">OPEC</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Society_of_Petroleum_Engineers" title="Society of Petroleum Engineers">Society of Petroleum Engineers</a></li> <li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/World_Petroleum_Council" title="World Petroleum Council">World Petroleum Council</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2" style="font-weight:bold;"><div> <ul><li><a href="/web/20200927210526/https://en.wikipedia.org/wiki/Category:Petroleum_industry" title="Category:Petroleum industry">Category</a></li> <li><img alt="Commons page" src="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/12px-Commons-logo.svg.png" decoding="async" title="Commons page" width="12" height="16" srcset="//web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/18px-Commons-logo.svg.png 1.5x, //web.archive.org/web/20200927210526im_/https://upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/24px-Commons-logo.svg.png 2x" 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title="Organisation erdölexportierender Länder – Alemannisch" lang="gsw" hreflang="gsw" class="interlanguage-link-target">Alemannisch</a></li><li class="interlanguage-link interwiki-am"><a href="https://web.archive.org/web/20200927210526/https://am.wikipedia.org/wiki/%E1%8A%A6%E1%8D%94%E1%8A%AD" title="ኦፔክ – Amharic" lang="am" hreflang="am" class="interlanguage-link-target">አማርኛ</a></li><li class="interlanguage-link interwiki-ar"><a href="https://web.archive.org/web/20200927210526/https://ar.wikipedia.org/wiki/%D8%A3%D9%88%D8%A8%D9%83" title="أوبك – Arabic" lang="ar" hreflang="ar" class="interlanguage-link-target">العربية</a></li><li class="interlanguage-link interwiki-an"><a href="https://web.archive.org/web/20200927210526/https://an.wikipedia.org/wiki/OPEP" title="OPEP – Aragonese" lang="an" hreflang="an" class="interlanguage-link-target">Aragonés</a></li><li class="interlanguage-link interwiki-ast"><a href="https://web.archive.org/web/20200927210526/https://ast.wikipedia.org/wiki/Organizaci%C3%B3n_de_Pa%C3%ADses_Esportadores_de_Petroleu" title="Organización de Países Esportadores de Petroleu – Asturian" lang="ast" hreflang="ast" class="interlanguage-link-target">Asturianu</a></li><li class="interlanguage-link interwiki-az"><a href="https://web.archive.org/web/20200927210526/https://az.wikipedia.org/wiki/Neft_%C4%B0xrac_Ed%C9%99n_%C3%96lk%C9%99l%C9%99r_Birliyi" title="Neft İxrac Edən Ölkələr Birliyi – Azerbaijani" lang="az" hreflang="az" class="interlanguage-link-target">Azərbaycanca</a></li><li class="interlanguage-link interwiki-azb"><a href="https://web.archive.org/web/20200927210526/https://azb.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DA%A9" title="اوپک – South Azerbaijani" lang="azb" hreflang="azb" class="interlanguage-link-target">تۆرکجه</a></li><li class="interlanguage-link interwiki-bn"><a href="https://web.archive.org/web/20200927210526/https://bn.wikipedia.org/wiki/%E0%A6%93%E0%A6%AA%E0%A7%87%E0%A6%95" title="ওপেক – Bangla" lang="bn" hreflang="bn" class="interlanguage-link-target">বাংলা</a></li><li class="interlanguage-link interwiki-zh-min-nan"><a href="https://web.archive.org/web/20200927210526/https://zh-min-nan.wikipedia.org/wiki/Chio%CC%8Dh-i%C3%BB_Su-chhut_Kok-ka_Cho%CD%98-chit" title="Chio̍h-iû Su-chhut Kok-ka Cho͘-chit – Chinese (Min Nan)" lang="nan" hreflang="nan" class="interlanguage-link-target">Bân-lâm-gú</a></li><li class="interlanguage-link interwiki-ba"><a href="https://web.archive.org/web/20200927210526/https://ba.wikipedia.org/wiki/%D0%9D%D0%B5%D1%84%D1%82%D1%8C_%D1%8D%D0%BA%D1%81%D0%BF%D0%BE%D1%80%D1%82%D0%BB%D0%B0%D1%83%D1%81%D1%8B_%D0%B8%D0%BB%D0%B4%D3%99%D1%80_%D0%BE%D0%B9%D0%BE%D1%88%D0%BC%D0%B0%D2%BB%D1%8B" title="Нефть экспортлаусы илдәр ойошмаһы – Bashkir" lang="ba" hreflang="ba" class="interlanguage-link-target">Башҡортса</a></li><li class="interlanguage-link interwiki-be"><a href="https://web.archive.org/web/20200927210526/https://be.wikipedia.org/wiki/%D0%90%D0%9F%D0%95%D0%9A" title="АПЕК – Belarusian" lang="be" hreflang="be" class="interlanguage-link-target">Беларуская</a></li><li class="interlanguage-link interwiki-be-x-old"><a href="https://web.archive.org/web/20200927210526/https://be-tarask.wikipedia.org/wiki/%D0%90%D1%80%D0%B3%D0%B0%D0%BD%D1%96%D0%B7%D0%B0%D1%86%D1%8B%D1%8F_%D0%BA%D1%80%D0%B0%D1%96%D0%BD-%D1%8D%D0%BA%D1%81%D0%BF%D0%B0%D1%80%D1%82%D1%8D%D1%80%D0%B0%D1%9E_%D0%BD%D0%B0%D1%84%D1%82%D1%8B" title="Арганізацыя краін-экспартэраў нафты – Belarusian (Taraškievica orthography)" lang="be-tarask" hreflang="be-tarask" class="interlanguage-link-target">Беларуская (тарашкевіца)‎</a></li><li class="interlanguage-link interwiki-bg"><a href="https://web.archive.org/web/20200927210526/https://bg.wikipedia.org/wiki/%D0%9E%D1%80%D0%B3%D0%B0%D0%BD%D0%B8%D0%B7%D0%B0%D1%86%D0%B8%D1%8F_%D0%BD%D0%B0_%D1%81%D1%82%D1%80%D0%B0%D0%BD%D0%B8%D1%82%D0%B5_%D0%B8%D0%B7%D0%BD%D0%BE%D1%81%D0%B8%D1%82%D0%B5%D0%BB%D0%BA%D0%B8_%D0%BD%D0%B0_%D0%BF%D0%B5%D1%82%D1%80%D0%BE%D0%BB" title="Организация на страните износителки на петрол – Bulgarian" lang="bg" hreflang="bg" class="interlanguage-link-target">Български</a></li><li class="interlanguage-link interwiki-bs"><a href="https://web.archive.org/web/20200927210526/https://bs.wikipedia.org/wiki/OPEC" title="OPEC – Bosnian" lang="bs" hreflang="bs" class="interlanguage-link-target">Bosanski</a></li><li class="interlanguage-link interwiki-br"><a href="https://web.archive.org/web/20200927210526/https://br.wikipedia.org/wiki/Aozadur_ar_Broio%C3%B9_a_Ezporzh_Petrol" title="Aozadur ar Broioù a Ezporzh Petrol – Breton" lang="br" hreflang="br" class="interlanguage-link-target">Brezhoneg</a></li><li class="interlanguage-link interwiki-ca"><a href="https://web.archive.org/web/20200927210526/https://ca.wikipedia.org/wiki/Organitzaci%C3%B3_de_Pa%C3%AFsos_Exportadors_de_Petroli" title="Organització de Països Exportadors de Petroli – Catalan" lang="ca" hreflang="ca" class="interlanguage-link-target">Català</a></li><li class="interlanguage-link interwiki-cs"><a href="https://web.archive.org/web/20200927210526/https://cs.wikipedia.org/wiki/Organizace_zem%C3%AD_vyv%C3%A1%C5%BEej%C3%ADc%C3%ADch_ropu" title="Organizace zemí vyvážejících ropu – Czech" lang="cs" hreflang="cs" class="interlanguage-link-target">Čeština</a></li><li class="interlanguage-link interwiki-cy"><a href="https://web.archive.org/web/20200927210526/https://cy.wikipedia.org/wiki/OPEC" title="OPEC – Welsh" lang="cy" hreflang="cy" class="interlanguage-link-target">Cymraeg</a></li><li class="interlanguage-link interwiki-da"><a href="https://web.archive.org/web/20200927210526/https://da.wikipedia.org/wiki/OPEC" title="OPEC – Danish" lang="da" hreflang="da" class="interlanguage-link-target">Dansk</a></li><li class="interlanguage-link interwiki-de"><a href="https://web.archive.org/web/20200927210526/https://de.wikipedia.org/wiki/Organisation_erd%C3%B6lexportierender_L%C3%A4nder" title="Organisation erdölexportierender Länder – German" lang="de" hreflang="de" class="interlanguage-link-target">Deutsch</a></li><li class="interlanguage-link interwiki-et"><a href="https://web.archive.org/web/20200927210526/https://et.wikipedia.org/wiki/OPEC" title="OPEC – Estonian" lang="et" hreflang="et" class="interlanguage-link-target">Eesti</a></li><li class="interlanguage-link interwiki-el"><a href="https://web.archive.org/web/20200927210526/https://el.wikipedia.org/wiki/%CE%9F%CF%81%CE%B3%CE%B1%CE%BD%CE%B9%CF%83%CE%BC%CF%8C%CF%82_%CE%95%CE%BE%CE%B1%CE%B3%CF%89%CE%B3%CF%8E%CE%BD_%CE%A0%CE%B5%CF%84%CF%81%CE%B5%CE%BB%CE%B1%CE%B9%CE%BF%CF%80%CE%B1%CF%81%CE%B1%CE%B3%CF%89%CE%B3%CF%8E%CE%BD_%CE%A7%CF%89%CF%81%CF%8E%CE%BD" title="Οργανισμός Εξαγωγών Πετρελαιοπαραγωγών Χωρών – Greek" lang="el" hreflang="el" class="interlanguage-link-target">Ελληνικά</a></li><li class="interlanguage-link interwiki-es"><a href="https://web.archive.org/web/20200927210526/https://es.wikipedia.org/wiki/Organizaci%C3%B3n_de_Pa%C3%ADses_Exportadores_de_Petr%C3%B3leo" title="Organización de Países Exportadores de Petróleo – Spanish" lang="es" hreflang="es" class="interlanguage-link-target">Español</a></li><li class="interlanguage-link interwiki-eo"><a href="https://web.archive.org/web/20200927210526/https://eo.wikipedia.org/wiki/OPEL" title="OPEL – Esperanto" lang="eo" hreflang="eo" class="interlanguage-link-target">Esperanto</a></li><li class="interlanguage-link interwiki-eu"><a href="https://web.archive.org/web/20200927210526/https://eu.wikipedia.org/wiki/LPEE" title="LPEE – Basque" lang="eu" hreflang="eu" class="interlanguage-link-target">Euskara</a></li><li class="interlanguage-link interwiki-fa"><a href="https://web.archive.org/web/20200927210526/https://fa.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DA%A9" title="اوپک – Persian" lang="fa" hreflang="fa" class="interlanguage-link-target">فارسی</a></li><li class="interlanguage-link interwiki-hif"><a href="https://web.archive.org/web/20200927210526/https://hif.wikipedia.org/wiki/OPEC" title="OPEC – Fiji Hindi" lang="hif" hreflang="hif" class="interlanguage-link-target">Fiji Hindi</a></li><li class="interlanguage-link interwiki-fo"><a href="https://web.archive.org/web/20200927210526/https://fo.wikipedia.org/wiki/OPEC" title="OPEC – Faroese" lang="fo" hreflang="fo" class="interlanguage-link-target">Føroyskt</a></li><li class="interlanguage-link interwiki-fr"><a href="https://web.archive.org/web/20200927210526/https://fr.wikipedia.org/wiki/Organisation_des_pays_exportateurs_de_p%C3%A9trole" title="Organisation des pays exportateurs de pétrole – French" lang="fr" hreflang="fr" class="interlanguage-link-target">Français</a></li><li class="interlanguage-link interwiki-fy"><a href="https://web.archive.org/web/20200927210526/https://fy.wikipedia.org/wiki/Organisaasje_fan_Oalje_Eksportearjende_Lannen" title="Organisaasje fan Oalje Eksportearjende Lannen – Western Frisian" lang="fy" hreflang="fy" class="interlanguage-link-target">Frysk</a></li><li class="interlanguage-link interwiki-fur"><a href="https://web.archive.org/web/20200927210526/https://fur.wikipedia.org/wiki/OPEC" title="OPEC – Friulian" lang="fur" hreflang="fur" class="interlanguage-link-target">Furlan</a></li><li class="interlanguage-link interwiki-ga"><a href="https://web.archive.org/web/20200927210526/https://ga.wikipedia.org/wiki/Eagra%C3%ADocht_T%C3%ADortha_Onnmhairithe_an_Pheitriliam" title="Eagraíocht Tíortha Onnmhairithe an Pheitriliam – Irish" lang="ga" hreflang="ga" class="interlanguage-link-target">Gaeilge</a></li><li class="interlanguage-link interwiki-gl"><a href="https://web.archive.org/web/20200927210526/https://gl.wikipedia.org/wiki/Organizaci%C3%B3n_de_Pa%C3%ADses_Exportadores_de_Petr%C3%B3leo" title="Organización de Países Exportadores de Petróleo – Galician" lang="gl" hreflang="gl" class="interlanguage-link-target">Galego</a></li><li class="interlanguage-link interwiki-ko"><a href="https://web.archive.org/web/20200927210526/https://ko.wikipedia.org/wiki/%EC%84%9D%EC%9C%A0_%EC%88%98%EC%B6%9C%EA%B5%AD_%EA%B8%B0%EA%B5%AC" title="석유 수출국 기구 – Korean" lang="ko" hreflang="ko" class="interlanguage-link-target">한국어</a></li><li class="interlanguage-link interwiki-hy"><a href="https://web.archive.org/web/20200927210526/https://hy.wikipedia.org/wiki/%D5%86%D5%A1%D5%BE%D5%A9_%D5%A1%D6%80%D5%BF%D5%A1%D5%B0%D5%A1%D5%B6%D5%B8%D5%B2_%D5%A5%D6%80%D5%AF%D6%80%D5%B6%D5%A5%D6%80%D5%AB_%D5%AF%D5%A1%D5%A6%D5%B4%D5%A1%D5%AF%D5%A5%D6%80%D5%BA%D5%B8%D6%82%D5%A9%D5%B5%D5%B8%D6%82%D5%B6" title="Նավթ արտահանող երկրների կազմակերպություն – Armenian" lang="hy" hreflang="hy" class="interlanguage-link-target">Հայերեն</a></li><li class="interlanguage-link interwiki-hi"><a href="https://web.archive.org/web/20200927210526/https://hi.wikipedia.org/wiki/%E0%A4%93%E0%A4%AA%E0%A5%87%E0%A4%95" title="ओपेक – Hindi" lang="hi" hreflang="hi" class="interlanguage-link-target">हिन्दी</a></li><li class="interlanguage-link interwiki-hr"><a href="https://web.archive.org/web/20200927210526/https://hr.wikipedia.org/wiki/OPEC" title="OPEC – Croatian" lang="hr" hreflang="hr" class="interlanguage-link-target">Hrvatski</a></li><li class="interlanguage-link interwiki-io"><a href="https://web.archive.org/web/20200927210526/https://io.wikipedia.org/wiki/ONEP" title="ONEP – Ido" lang="io" hreflang="io" class="interlanguage-link-target">Ido</a></li><li class="interlanguage-link interwiki-ilo"><a href="https://web.archive.org/web/20200927210526/https://ilo.wikipedia.org/wiki/Gunglo_ti_Pagpagilian_nga_Agiluluwas_ti_Petrolio" title="Gunglo ti Pagpagilian nga Agiluluwas ti Petrolio – Iloko" lang="ilo" hreflang="ilo" class="interlanguage-link-target">Ilokano</a></li><li class="interlanguage-link interwiki-id"><a href="https://web.archive.org/web/20200927210526/https://id.wikipedia.org/wiki/Organisasi_Negara-Negara_Pengekspor_Minyak_Bumi" title="Organisasi Negara-Negara Pengekspor Minyak Bumi – Indonesian" lang="id" hreflang="id" class="interlanguage-link-target">Bahasa Indonesia</a></li><li class="interlanguage-link interwiki-is"><a href="https://web.archive.org/web/20200927210526/https://is.wikipedia.org/wiki/Samt%C3%B6k_ol%C3%ADuframlei%C3%B0slur%C3%ADkja" title="Samtök olíuframleiðsluríkja – Icelandic" lang="is" hreflang="is" class="interlanguage-link-target">Íslenska</a></li><li class="interlanguage-link interwiki-it"><a href="https://web.archive.org/web/20200927210526/https://it.wikipedia.org/wiki/Organizzazione_dei_Paesi_esportatori_di_petrolio" title="Organizzazione dei Paesi esportatori di petrolio – Italian" lang="it" hreflang="it" class="interlanguage-link-target">Italiano</a></li><li class="interlanguage-link interwiki-he"><a href="https://web.archive.org/web/20200927210526/https://he.wikipedia.org/wiki/%D7%90%D7%95%D7%A4%22%D7%A7" title="אופ"ק – Hebrew" lang="he" hreflang="he" class="interlanguage-link-target">עברית</a></li><li class="interlanguage-link interwiki-jv"><a href="https://web.archive.org/web/20200927210526/https://jv.wikipedia.org/wiki/OPEC" title="OPEC – Javanese" lang="jv" hreflang="jv" class="interlanguage-link-target">Jawa</a></li><li class="interlanguage-link interwiki-kbp"><a href="https://web.archive.org/web/20200927210526/https://kbp.wikipedia.org/wiki/OPEP_%C5%8Bgb%C9%9By%C9%9B" title="OPEP ŋgbɛyɛ – Kabiye" lang="kbp" hreflang="kbp" class="interlanguage-link-target">Kabɩyɛ</a></li><li class="interlanguage-link interwiki-kn"><a href="https://web.archive.org/web/20200927210526/https://kn.wikipedia.org/wiki/%E0%B2%92%E0%B2%AA%E0%B3%86%E0%B2%95%E0%B3%8D" title="ಒಪೆಕ್ – Kannada" lang="kn" hreflang="kn" class="interlanguage-link-target">ಕನ್ನಡ</a></li><li class="interlanguage-link interwiki-krc"><a href="https://web.archive.org/web/20200927210526/https://krc.wikipedia.org/wiki/%D0%9D%D0%B5%D1%84%D1%82%D0%BD%D0%B8_%D1%8D%D0%BA%D1%81%D0%BF%D0%BE%D1%80%D1%82%D1%91%D1%80%D0%BB%D0%B0%D1%80%D1%8B_%D0%B1%D0%BE%D0%BB%D0%B3%D1%8A%D0%B0%D0%BD_%D0%BA%D1%8A%D1%80%D0%B0%D0%BB%D0%BB%D0%B0%D0%BD%D1%8B_%D0%BE%D1%80%D0%B3%D0%B0%D0%BD%D0%B8%D0%B7%D0%B0%D1%86%D0%B8%D1%8F%D1%81%D1%8B" title="Нефтни экспортёрлары болгъан къралланы организациясы – Karachay-Balkar" lang="krc" hreflang="krc" class="interlanguage-link-target">Къарачай-малкъар</a></li><li class="interlanguage-link interwiki-ka"><a href="https://web.archive.org/web/20200927210526/https://ka.wikipedia.org/wiki/%E1%83%9C%E1%83%90%E1%83%95%E1%83%97%E1%83%9D%E1%83%91%E1%83%98%E1%83%A1_%E1%83%94%E1%83%A5%E1%83%A1%E1%83%9E%E1%83%9D%E1%83%A0%E1%83%A2%E1%83%98%E1%83%9D%E1%83%A0_%E1%83%A5%E1%83%95%E1%83%94%E1%83%A7%E1%83%90%E1%83%9C%E1%83%90%E1%83%97%E1%83%90_%E1%83%9D%E1%83%A0%E1%83%92%E1%83%90%E1%83%9C%E1%83%98%E1%83%96%E1%83%90%E1%83%AA%E1%83%98%E1%83%90" title="ნავთობის ექსპორტიორ ქვეყანათა ორგანიზაცია – Georgian" lang="ka" hreflang="ka" class="interlanguage-link-target">ქართული</a></li><li class="interlanguage-link interwiki-kk"><a href="https://web.archive.org/web/20200927210526/https://kk.wikipedia.org/wiki/%D0%9C%D2%B1%D0%BD%D0%B0%D0%B9_%D1%8D%D0%BA%D1%81%D0%BF%D0%BE%D1%80%D1%82%D1%82%D0%B0%D1%83%D1%88%D1%8B_%D0%B5%D0%BB%D0%B4%D0%B5%D1%80_%D2%B1%D0%B9%D1%8B%D0%BC%D1%8B" title="Мұнай экспорттаушы елдер ұйымы – Kazakh" lang="kk" hreflang="kk" class="interlanguage-link-target">Қазақша</a></li><li class="interlanguage-link interwiki-sw"><a href="https://web.archive.org/web/20200927210526/https://sw.wikipedia.org/wiki/Jumuiya_ya_nchi_zinazozalisha_mafuta_duniani" title="Jumuiya ya nchi zinazozalisha mafuta duniani – Swahili" lang="sw" hreflang="sw" class="interlanguage-link-target">Kiswahili</a></li><li class="interlanguage-link interwiki-ht"><a href="https://web.archive.org/web/20200927210526/https://ht.wikipedia.org/wiki/%C3%92ganizasyon_nan_Petw%C3%B2l_Peyi_Leksportasyon" title="Òganizasyon nan Petwòl Peyi Leksportasyon – Haitian Creole" lang="ht" hreflang="ht" class="interlanguage-link-target">Kreyòl ayisyen</a></li><li class="interlanguage-link interwiki-ku"><a href="https://web.archive.org/web/20200927210526/https://ku.wikipedia.org/wiki/OPEC" title="OPEC – Kurdish" lang="ku" hreflang="ku" class="interlanguage-link-target">Kurdî</a></li><li class="interlanguage-link interwiki-ky"><a href="https://web.archive.org/web/20200927210526/https://ky.wikipedia.org/wiki/%D0%9E%D0%9F%D0%95%D0%9A" title="ОПЕК – Kyrgyz" lang="ky" hreflang="ky" class="interlanguage-link-target">Кыргызча</a></li><li class="interlanguage-link interwiki-la"><a href="https://web.archive.org/web/20200927210526/https://la.wikipedia.org/wiki/OPEC" title="OPEC – Latin" lang="la" hreflang="la" class="interlanguage-link-target">Latina</a></li><li class="interlanguage-link interwiki-lv"><a href="https://web.archive.org/web/20200927210526/https://lv.wikipedia.org/wiki/OPEC" title="OPEC – Latvian" lang="lv" hreflang="lv" class="interlanguage-link-target">Latviešu</a></li><li class="interlanguage-link interwiki-lb"><a href="https://web.archive.org/web/20200927210526/https://lb.wikipedia.org/wiki/Organization_of_the_Petroleum_Exporting_Countries" title="Organization of the Petroleum Exporting Countries – Luxembourgish" lang="lb" hreflang="lb" class="interlanguage-link-target">Lëtzebuergesch</a></li><li class="interlanguage-link interwiki-lt"><a href="https://web.archive.org/web/20200927210526/https://lt.wikipedia.org/wiki/OPEC" title="OPEC – Lithuanian" lang="lt" hreflang="lt" class="interlanguage-link-target">Lietuvių</a></li><li class="interlanguage-link interwiki-hu"><a href="https://web.archive.org/web/20200927210526/https://hu.wikipedia.org/wiki/OPEC" title="OPEC – Hungarian" lang="hu" hreflang="hu" class="interlanguage-link-target">Magyar</a></li><li class="interlanguage-link interwiki-mk"><a href="https://web.archive.org/web/20200927210526/https://mk.wikipedia.org/wiki/%D0%9E%D1%80%D0%B3%D0%B0%D0%BD%D0%B8%D0%B7%D0%B0%D1%86%D0%B8%D1%98%D0%B0_%D0%BD%D0%B0_%D0%B7%D0%B5%D0%BC%D1%98%D0%B8_%D0%B8%D0%B7%D0%B2%D0%BE%D0%B7%D0%BD%D0%B8%D1%87%D0%BA%D0%B8_%D0%BD%D0%B0_%D0%BD%D0%B0%D1%84%D1%82%D0%B0" title="Организација на земји извознички на нафта – Macedonian" lang="mk" hreflang="mk" class="interlanguage-link-target">Македонски</a></li><li class="interlanguage-link interwiki-mg"><a href="https://web.archive.org/web/20200927210526/https://mg.wikipedia.org/wiki/Fikambanan%27ny_Firenena_Manondrana_Solitany" title="Fikambanan'ny Firenena Manondrana Solitany – Malagasy" lang="mg" hreflang="mg" class="interlanguage-link-target">Malagasy</a></li><li class="interlanguage-link interwiki-ml"><a href="https://web.archive.org/web/20200927210526/https://ml.wikipedia.org/wiki/%E0%B4%92%E0%B4%AA%E0%B5%86%E0%B4%95%E0%B5%8D" title="ഒപെക് – Malayalam" lang="ml" hreflang="ml" class="interlanguage-link-target">മലയാളം</a></li><li class="interlanguage-link interwiki-mr"><a href="https://web.archive.org/web/20200927210526/https://mr.wikipedia.org/wiki/%E0%A4%93%E0%A4%AA%E0%A5%87%E0%A4%95" title="ओपेक – Marathi" lang="mr" hreflang="mr" class="interlanguage-link-target">मराठी</a></li><li class="interlanguage-link interwiki-arz"><a href="https://web.archive.org/web/20200927210526/https://arz.wikipedia.org/wiki/%D8%A7%D9%88%D8%A8%D9%8A%D9%83" title="اوبيك – Egyptian Arabic" lang="arz" hreflang="arz" class="interlanguage-link-target">مصرى</a></li><li class="interlanguage-link interwiki-mzn"><a href="https://web.archive.org/web/20200927210526/https://mzn.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DA%A9" title="اوپک – Mazanderani" lang="mzn" hreflang="mzn" class="interlanguage-link-target">مازِرونی</a></li><li class="interlanguage-link interwiki-ms"><a href="https://web.archive.org/web/20200927210526/https://ms.wikipedia.org/wiki/Pertubuhan_Negara-negara_Pengeksport_Petroleum" title="Pertubuhan Negara-negara Pengeksport Petroleum – Malay" lang="ms" hreflang="ms" class="interlanguage-link-target">Bahasa Melayu</a></li><li class="interlanguage-link interwiki-mn"><a href="https://web.archive.org/web/20200927210526/https://mn.wikipedia.org/wiki/%D0%9E%D0%9F%D0%95%D0%9A" title="ОПЕК – Mongolian" lang="mn" hreflang="mn" class="interlanguage-link-target">Монгол</a></li><li class="interlanguage-link interwiki-my"><a href="https://web.archive.org/web/20200927210526/https://my.wikipedia.org/wiki/%E1%80%A1%E1%80%AD%E1%80%AF%E1%80%95%E1%80%80%E1%80%BA" title="အိုပက် – Burmese" lang="my" hreflang="my" class="interlanguage-link-target">မြန်မာဘာသာ</a></li><li class="interlanguage-link interwiki-nl"><a href="https://web.archive.org/web/20200927210526/https://nl.wikipedia.org/wiki/Organisatie_van_olie-exporterende_landen" title="Organisatie van olie-exporterende landen – Dutch" lang="nl" hreflang="nl" class="interlanguage-link-target">Nederlands</a></li><li class="interlanguage-link interwiki-ne"><a href="https://web.archive.org/web/20200927210526/https://ne.wikipedia.org/wiki/%E0%A4%93%E0%A4%AA%E0%A5%87%E0%A4%95" title="ओपेक – Nepali" lang="ne" hreflang="ne" class="interlanguage-link-target">नेपाली</a></li><li class="interlanguage-link interwiki-new"><a href="https://web.archive.org/web/20200927210526/https://new.wikipedia.org/wiki/%E0%A4%93%E0%A4%AA%E0%A5%87%E0%A4%95" title="ओपेक – Newari" lang="new" hreflang="new" class="interlanguage-link-target">नेपाल भाषा</a></li><li class="interlanguage-link interwiki-ja"><a href="https://web.archive.org/web/20200927210526/https://ja.wikipedia.org/wiki/%E7%9F%B3%E6%B2%B9%E8%BC%B8%E5%87%BA%E5%9B%BD%E6%A9%9F%E6%A7%8B" title="石油輸出国機構 – Japanese" lang="ja" hreflang="ja" class="interlanguage-link-target">日本語</a></li><li class="interlanguage-link interwiki-ce"><a href="https://web.archive.org/web/20200927210526/https://ce.wikipedia.org/wiki/%D0%9C%D0%B5%D1%85%D0%BA%D0%B4%D0%B0%D1%8C%D1%82%D1%82%D0%B0%D0%BD_%D1%8D%D0%BA%D1%81%D0%BF%D0%BE%D1%80%D1%82%D1%85%D0%BE%D0%B9%D0%BD_%D0%BF%D0%B0%D1%87%D1%85%D1%8C%D0%B0%D0%BB%D0%BA%D1%85%D0%B8%D0%B9%D0%BD_%D0%BE%D1%80%D0%B3%D0%B0%D0%BD%D0%B8%D0%B7%D0%B0%D1%86%D0%B8" title="Мехкдаьттан экспортхойн пачхьалкхийн организаци – Chechen" lang="ce" hreflang="ce" class="interlanguage-link-target">Нохчийн</a></li><li class="interlanguage-link interwiki-no"><a href="https://web.archive.org/web/20200927210526/https://no.wikipedia.org/wiki/OPEC" title="OPEC – Norwegian Bokmål" lang="nb" hreflang="nb" class="interlanguage-link-target">Norsk bokmål</a></li><li class="interlanguage-link interwiki-nn"><a href="https://web.archive.org/web/20200927210526/https://nn.wikipedia.org/wiki/Organisasjonen_av_oljeeksporterande_land" title="Organisasjonen av oljeeksporterande land – Norwegian Nynorsk" lang="nn" hreflang="nn" class="interlanguage-link-target">Norsk nynorsk</a></li><li class="interlanguage-link interwiki-oc"><a href="https://web.archive.org/web/20200927210526/https://oc.wikipedia.org/wiki/Organizacion_dels_Pa%C3%AFses_Exportadors_de_Petr%C3%B2li" title="Organizacion dels Païses Exportadors de Petròli – Occitan" lang="oc" hreflang="oc" class="interlanguage-link-target">Occitan</a></li><li class="interlanguage-link interwiki-or"><a href="https://web.archive.org/web/20200927210526/https://or.wikipedia.org/wiki/%E0%AC%93%E0%AC%AA%E0%AC%BF%E0%AC%87%E0%AC%B8%E0%AC%BF" title="ଓପିଇସି – Odia" lang="or" hreflang="or" class="interlanguage-link-target">ଓଡ଼ିଆ</a></li><li class="interlanguage-link interwiki-uz"><a href="https://web.archive.org/web/20200927210526/https://uz.wikipedia.org/wiki/OPEC" title="OPEC – Uzbek" lang="uz" hreflang="uz" class="interlanguage-link-target">Oʻzbekcha/ўзбекча</a></li><li class="interlanguage-link interwiki-pa"><a href="https://web.archive.org/web/20200927210526/https://pa.wikipedia.org/wiki/%E0%A8%93%E0%A8%AA%E0%A9%88%E0%A9%B1%E0%A8%95" title="ਓਪੈੱਕ – Punjabi" lang="pa" hreflang="pa" class="interlanguage-link-target">ਪੰਜਾਬੀ</a></li><li class="interlanguage-link interwiki-pnb"><a href="https://web.archive.org/web/20200927210526/https://pnb.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DB%8C%DA%A9" title="اوپیک – Western Punjabi" lang="pnb" hreflang="pnb" class="interlanguage-link-target">پنجابی</a></li><li class="interlanguage-link interwiki-ps"><a href="https://web.archive.org/web/20200927210526/https://ps.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DA%A9" title="اوپک – Pashto" lang="ps" hreflang="ps" class="interlanguage-link-target">پښتو</a></li><li class="interlanguage-link interwiki-jam"><a href="https://web.archive.org/web/20200927210526/https://jam.wikipedia.org/wiki/OPEC" title="OPEC – Jamaican Creole English" lang="jam" hreflang="jam" class="interlanguage-link-target">Patois</a></li><li class="interlanguage-link interwiki-pms"><a href="https://web.archive.org/web/20200927210526/https://pms.wikipedia.org/wiki/Organisassion_dij_pais_esportator_%C3%ABd_petreuli" title="Organisassion dij pais esportator ëd petreuli – Piedmontese" lang="pms" hreflang="pms" class="interlanguage-link-target">Piemontèis</a></li><li class="interlanguage-link interwiki-pl"><a href="https://web.archive.org/web/20200927210526/https://pl.wikipedia.org/wiki/OPEC" title="OPEC – Polish" lang="pl" hreflang="pl" class="interlanguage-link-target">Polski</a></li><li class="interlanguage-link interwiki-pt"><a href="https://web.archive.org/web/20200927210526/https://pt.wikipedia.org/wiki/Organiza%C3%A7%C3%A3o_dos_Pa%C3%ADses_Exportadores_de_Petr%C3%B3leo" title="Organização dos Países Exportadores de Petróleo – Portuguese" lang="pt" hreflang="pt" class="interlanguage-link-target">Português</a></li><li class="interlanguage-link interwiki-ro"><a href="https://web.archive.org/web/20200927210526/https://ro.wikipedia.org/wiki/OPEC" title="OPEC – Romanian" lang="ro" hreflang="ro" class="interlanguage-link-target">Română</a></li><li class="interlanguage-link interwiki-rue"><a href="https://web.archive.org/web/20200927210526/https://rue.wikipedia.org/wiki/%D0%9E%D0%9F%D0%95%D0%9A" title="ОПЕК – Rusyn" lang="rue" hreflang="rue" class="interlanguage-link-target">Русиньскый</a></li><li class="interlanguage-link interwiki-ru"><a href="https://web.archive.org/web/20200927210526/https://ru.wikipedia.org/wiki/%D0%9E%D1%80%D0%B3%D0%B0%D0%BD%D0%B8%D0%B7%D0%B0%D1%86%D0%B8%D1%8F_%D1%81%D1%82%D1%80%D0%B0%D0%BD_%E2%80%94_%D1%8D%D0%BA%D1%81%D0%BF%D0%BE%D1%80%D1%82%D1%91%D1%80%D0%BE%D0%B2_%D0%BD%D0%B5%D1%84%D1%82%D0%B8" title="Организация стран — экспортёров нефти – Russian" lang="ru" hreflang="ru" class="interlanguage-link-target">Русский</a></li><li class="interlanguage-link interwiki-sah"><a href="https://web.archive.org/web/20200927210526/https://sah.wikipedia.org/wiki/OPEC" title="OPEC – Sakha" lang="sah" hreflang="sah" class="interlanguage-link-target">Саха тыла</a></li><li class="interlanguage-link interwiki-sat"><a href="https://web.archive.org/web/20200927210526/https://sat.wikipedia.org/wiki/%E1%B1%B3%E1%B1%AF%E1%B1%AE%E1%B1%A0" title="ᱳᱯᱮᱠ – Santali" lang="sat" hreflang="sat" class="interlanguage-link-target">ᱥᱟᱱᱛᱟᱲᱤ</a></li><li class="interlanguage-link interwiki-sco"><a href="https://web.archive.org/web/20200927210526/https://sco.wikipedia.org/wiki/OPEC" title="OPEC – Scots" lang="sco" hreflang="sco" class="interlanguage-link-target">Scots</a></li><li class="interlanguage-link interwiki-sq"><a href="https://web.archive.org/web/20200927210526/https://sq.wikipedia.org/wiki/OPEC" title="OPEC – Albanian" lang="sq" hreflang="sq" class="interlanguage-link-target">Shqip</a></li><li class="interlanguage-link interwiki-scn"><a href="https://web.archive.org/web/20200927210526/https://scn.wikipedia.org/wiki/OPEC" title="OPEC – Sicilian" lang="scn" hreflang="scn" class="interlanguage-link-target">Sicilianu</a></li><li class="interlanguage-link interwiki-simple"><a href="https://web.archive.org/web/20200927210526/https://simple.wikipedia.org/wiki/OPEC" title="OPEC – Simple English" lang="en-simple" hreflang="en-simple" class="interlanguage-link-target">Simple English</a></li><li class="interlanguage-link interwiki-sk"><a href="https://web.archive.org/web/20200927210526/https://sk.wikipedia.org/wiki/Organiz%C3%A1cia_kraj%C3%ADn_vyv%C3%A1%C5%BEaj%C3%BAcich_ropu" title="Organizácia krajín vyvážajúcich ropu – Slovak" lang="sk" hreflang="sk" class="interlanguage-link-target">Slovenčina</a></li><li class="interlanguage-link interwiki-sl"><a href="https://web.archive.org/web/20200927210526/https://sl.wikipedia.org/wiki/Organizacija_dr%C5%BEav_izvoznic_nafte" title="Organizacija držav izvoznic nafte – Slovenian" lang="sl" hreflang="sl" class="interlanguage-link-target">Slovenščina</a></li><li class="interlanguage-link interwiki-so"><a href="https://web.archive.org/web/20200927210526/https://so.wikipedia.org/wiki/OPEC" title="OPEC – Somali" lang="so" hreflang="so" class="interlanguage-link-target">Soomaaliga</a></li><li class="interlanguage-link interwiki-ckb"><a href="https://web.archive.org/web/20200927210526/https://ckb.wikipedia.org/wiki/%D8%A6%DB%86%D9%BE%DB%8E%DA%A9" title="ئۆپێک – Central Kurdish" lang="ckb" hreflang="ckb" class="interlanguage-link-target">کوردی</a></li><li class="interlanguage-link interwiki-sr"><a href="https://web.archive.org/web/20200927210526/https://sr.wikipedia.org/wiki/OPEK" title="OPEK – Serbian" lang="sr" hreflang="sr" class="interlanguage-link-target">Српски / srpski</a></li><li class="interlanguage-link interwiki-sh"><a href="https://web.archive.org/web/20200927210526/https://sh.wikipedia.org/wiki/OPEC" title="OPEC – Serbo-Croatian" lang="sh" hreflang="sh" class="interlanguage-link-target">Srpskohrvatski / српскохрватски</a></li><li class="interlanguage-link interwiki-su"><a href="https://web.archive.org/web/20200927210526/https://su.wikipedia.org/wiki/OPEC" title="OPEC – Sundanese" lang="su" hreflang="su" class="interlanguage-link-target">Sunda</a></li><li class="interlanguage-link interwiki-fi"><a href="https://web.archive.org/web/20200927210526/https://fi.wikipedia.org/wiki/OPEC" title="OPEC – Finnish" lang="fi" hreflang="fi" class="interlanguage-link-target">Suomi</a></li><li class="interlanguage-link interwiki-sv"><a href="https://web.archive.org/web/20200927210526/https://sv.wikipedia.org/wiki/Opec" title="Opec – Swedish" lang="sv" hreflang="sv" class="interlanguage-link-target">Svenska</a></li><li class="interlanguage-link interwiki-tl"><a href="https://web.archive.org/web/20200927210526/https://tl.wikipedia.org/wiki/Organisasyon_ng_mga_Bansang_Nagluluwas_ng_Langis" title="Organisasyon ng mga Bansang Nagluluwas ng Langis – Tagalog" lang="tl" hreflang="tl" class="interlanguage-link-target">Tagalog</a></li><li class="interlanguage-link interwiki-ta"><a href="https://web.archive.org/web/20200927210526/https://ta.wikipedia.org/wiki/%E0%AE%93%E0%AE%AA%E0%AF%8D%E0%AE%AA%E0%AF%86%E0%AE%95%E0%AF%8D" title="ஓப்பெக் – Tamil" lang="ta" hreflang="ta" class="interlanguage-link-target">தமிழ்</a></li><li class="interlanguage-link interwiki-roa-tara"><a href="https://web.archive.org/web/20200927210526/https://roa-tara.wikipedia.org/wiki/Organizzazione_de_le_Paj%C3%A8sere_Esportature_de_Petrolie" title="Organizzazione de le Pajèsere Esportature de Petrolie – Tarantino" lang="nap-x-tara" hreflang="nap-x-tara" class="interlanguage-link-target">Tarandíne</a></li><li class="interlanguage-link interwiki-tt"><a href="https://web.archive.org/web/20200927210526/https://tt.wikipedia.org/wiki/Neft_%C3%A7itk%C3%A4_%C3%A7%C4%B1%C4%9Faru%C3%A7%C4%B1_ill%C3%A4r_oy%C4%B1%C5%9Fmas%C4%B1" title="Neft çitkä çığaruçı illär oyışması – Tatar" lang="tt" hreflang="tt" class="interlanguage-link-target">Татарча/tatarça</a></li><li class="interlanguage-link interwiki-th"><a href="https://web.archive.org/web/20200927210526/https://th.wikipedia.org/wiki/%E0%B9%82%E0%B8%AD%E0%B9%80%E0%B8%9B%E0%B8%81" title="โอเปก – Thai" lang="th" hreflang="th" class="interlanguage-link-target">ไทย</a></li><li class="interlanguage-link interwiki-tr"><a href="https://web.archive.org/web/20200927210526/https://tr.wikipedia.org/wiki/OPEC" title="OPEC – Turkish" lang="tr" hreflang="tr" class="interlanguage-link-target">Türkçe</a></li><li class="interlanguage-link interwiki-uk"><a href="https://web.archive.org/web/20200927210526/https://uk.wikipedia.org/wiki/%D0%9E%D0%9F%D0%95%D0%9A" title="ОПЕК – Ukrainian" lang="uk" hreflang="uk" class="interlanguage-link-target">Українська</a></li><li class="interlanguage-link interwiki-ur"><a href="https://web.archive.org/web/20200927210526/https://ur.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DB%8C%DA%A9" title="اوپیک – Urdu" lang="ur" hreflang="ur" class="interlanguage-link-target">اردو</a></li><li class="interlanguage-link interwiki-ug"><a href="https://web.archive.org/web/20200927210526/https://ug.wikipedia.org/wiki/%D9%86%DB%90%D9%81%D9%89%D8%AA_%D8%A6%DB%90%D9%83%D9%89%D8%B3%D9%BE%D9%88%D8%B1%D8%AA_%D9%82%D9%89%D9%84%D8%BA%DB%87%DA%86%D9%89_%D8%AF%DB%86%D9%84%DB%95%D8%AA%D9%84%DB%95%D8%B1_%D8%AA%DB%95%D8%B4%D9%83%D9%89%D9%84%D8%A7%D8%AA%D9%89_(OPEC)" title="نېفىت ئېكىسپورت قىلغۇچى دۆلەتلەر تەشكىلاتى (OPEC) – Uyghur" lang="ug" hreflang="ug" class="interlanguage-link-target">ئۇيغۇرچە / Uyghurche</a></li><li class="interlanguage-link interwiki-vec"><a href="https://web.archive.org/web/20200927210526/https://vec.wikipedia.org/wiki/OPEC" title="OPEC – Venetian" lang="vec" hreflang="vec" class="interlanguage-link-target">Vèneto</a></li><li class="interlanguage-link interwiki-vi"><a href="https://web.archive.org/web/20200927210526/https://vi.wikipedia.org/wiki/T%E1%BB%95_ch%E1%BB%A9c_c%C3%A1c_n%C6%B0%E1%BB%9Bc_xu%E1%BA%A5t_kh%E1%BA%A9u_d%E1%BA%A7u_l%E1%BB%ADa" title="Tổ chức các nước xuất khẩu dầu lửa – Vietnamese" lang="vi" hreflang="vi" class="interlanguage-link-target">Tiếng Việt</a></li><li class="interlanguage-link interwiki-fiu-vro"><a href="https://web.archive.org/web/20200927210526/https://fiu-vro.wikipedia.org/wiki/OPEC" title="OPEC – Võro" lang="vro" hreflang="vro" class="interlanguage-link-target">Võro</a></li><li class="interlanguage-link interwiki-war"><a href="https://web.archive.org/web/20200927210526/https://war.wikipedia.org/wiki/OPEC" title="OPEC – Waray" lang="war" hreflang="war" class="interlanguage-link-target">Winaray</a></li><li class="interlanguage-link interwiki-wuu"><a href="https://web.archive.org/web/20200927210526/https://wuu.wikipedia.org/wiki/%E7%9F%B3%E6%B2%B9%E8%BE%93%E5%87%BA%E5%9B%BD%E7%BB%84%E7%BB%87" title="石油输出国组织 – Wu Chinese" lang="wuu" hreflang="wuu" class="interlanguage-link-target">吴语</a></li><li class="interlanguage-link interwiki-yi"><a href="https://web.archive.org/web/20200927210526/https://yi.wikipedia.org/wiki/%D7%90%D7%A4%D7%A2%D7%A7" title="אפעק – Yiddish" lang="yi" hreflang="yi" class="interlanguage-link-target">ייִדיש</a></li><li class="interlanguage-link interwiki-zh-yue"><a href="https://web.archive.org/web/20200927210526/https://zh-yue.wikipedia.org/wiki/%E7%9F%B3%E6%B2%B9%E8%BC%B8%E5%87%BA%E5%9C%8B%E7%B5%84%E7%B9%94" title="石油輸出國組織 – Cantonese" lang="yue" hreflang="yue" class="interlanguage-link-target">粵語</a></li><li class="interlanguage-link interwiki-diq"><a href="https://web.archive.org/web/20200927210526/https://diq.wikipedia.org/wiki/OPEC" title="OPEC – Zazaki" lang="diq" hreflang="diq" class="interlanguage-link-target">Zazaki</a></li><li class="interlanguage-link interwiki-bat-smg"><a href="https://web.archive.org/web/20200927210526/https://bat-smg.wikipedia.org/wiki/OPEC" title="OPEC – Samogitian" lang="sgs" hreflang="sgs" class="interlanguage-link-target">Žemaitėška</a></li><li class="interlanguage-link interwiki-zh badge-Q17437798 badge-goodarticle" title="good article badge"><a href="https://web.archive.org/web/20200927210526/https://zh.wikipedia.org/wiki/%E7%9F%B3%E6%B2%B9%E8%BE%93%E5%87%BA%E5%9B%BD%E7%BB%84%E7%BB%87" title="石油输出国组织 – Chinese" lang="zh" hreflang="zh" class="interlanguage-link-target">中文</a></li></ul> <div class="after-portlet after-portlet-lang"><a href="https://web.archive.org/web/20200927210526/https://www.wikidata.org/wiki/Special:EntityPage/Q7795#sitelinks-wikipedia" title="Edit interlanguage links" class="wbc-editpage">Edit links</a></div> </div> </nav> </div> </div> <footer id="footer" class="mw-footer" role="contentinfo"> <ul id="footer-info"> <li id="footer-info-lastmod"> This page was last edited on 14 September 2020, at 17:20 (UTC).</li> <li id="footer-info-copyright">Text is available under the <a rel="license" href="//web.archive.org/web/20200927210526/https://en.wikipedia.org/wiki/Wikipedia:Text_of_Creative_Commons_Attribution-ShareAlike_3.0_Unported_License">Creative Commons Attribution-ShareAlike License</a><a rel="license" 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