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class="vector-toc-text"> 1.1 Leadership and decision-making </div> </a> <ul id="toc-Leadership_and_decision-making-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-International_cartel" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#International_cartel"> <div class="vector-toc-text"> 1.2 International cartel </div> </a> <ul id="toc-International_cartel-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Conflicts" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Conflicts"> <div class="vector-toc-text"> 1.3 Conflicts </div> </a> <ul id="toc-Conflicts-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-History_and_impact" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#History_and_impact"> <div class="vector-toc-text"> 2 History and impact </div> </a> <button aria-controls="toc-History_and_impact-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> Toggle History and impact subsection </button> <ul id="toc-History_and_impact-sublist" class="vector-toc-list"> <li id="toc-Post-WWII_situation" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Post-WWII_situation"> <div class="vector-toc-text"> 2.1 Post-WWII situation </div> </a> <ul id="toc-Post-WWII_situation-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-1959–1960:_Anger_from_exporting_countries" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#1959–1960:_Anger_from_exporting_countries"> <div class="vector-toc-text"> 2.2 1959–1960: Anger from exporting countries </div> </a> <ul id="toc-1959–1960:_Anger_from_exporting_countries-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-1960–1975:_Founding_and_expansion" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#1960–1975:_Founding_and_expansion"> <div class="vector-toc-text"> 2.3 1960–1975: Founding and expansion </div> </a> <ul id="toc-1960–1975:_Founding_and_expansion-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-1973–1974:_Oil_embargo" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#1973–1974:_Oil_embargo"> <div class="vector-toc-text"> 2.4 1973–1974: Oil embargo </div> </a> <ul id="toc-1973–1974:_Oil_embargo-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-1975–1980:_Special_Fund,_now_the_OPEC_Fund_for_International_Development" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#1975–1980:_Special_Fund,_now_the_OPEC_Fund_for_International_Development"> <div class="vector-toc-text"> 2.5 1975–1980: Special Fund, now the OPEC Fund for International Development </div> </a> <ul id="toc-1975–1980:_Special_Fund,_now_the_OPEC_Fund_for_International_Development-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-1975:_Hostage_siege" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#1975:_Hostage_siege"> <div class="vector-toc-text"> 2.6 1975: Hostage siege </div> </a> <ul id="toc-1975:_Hostage_siege-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-1979–1980:_Oil_crisis_and_1980s_oil_glut" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#1979–1980:_Oil_crisis_and_1980s_oil_glut"> <div class="vector-toc-text"> 2.7 1979–1980: Oil crisis and 1980s oil glut </div> </a> <ul id="toc-1979–1980:_Oil_crisis_and_1980s_oil_glut-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-1990–2003:_Ample_supply_and_modest_disruptions" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#1990–2003:_Ample_supply_and_modest_disruptions"> <div class="vector-toc-text"> 2.8 1990–2003: Ample supply and modest disruptions </div> </a> <ul id="toc-1990–2003:_Ample_supply_and_modest_disruptions-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-2003–2011:_Volatility" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#2003–2011:_Volatility"> <div class="vector-toc-text"> 2.9 2003–2011: Volatility </div> </a> <ul id="toc-2003–2011:_Volatility-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-2008:_Production_dispute" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#2008:_Production_dispute"> <div class="vector-toc-text"> 2.10 2008: Production dispute </div> </a> <ul id="toc-2008:_Production_dispute-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-2014–2017:_Oil_glut" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#2014–2017:_Oil_glut"> <div class="vector-toc-text"> 2.11 2014–2017: Oil glut </div> </a> <ul id="toc-2014–2017:_Oil_glut-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-2017–2020:_Production_cut_and_OPEC+" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#2017–2020:_Production_cut_and_OPEC+"> <div class="vector-toc-text"> 2.12 2017–2020: Production cut and OPEC+ </div> </a> <ul id="toc-2017–2020:_Production_cut_and_OPEC+-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-2020:_Saudi-Russian_price_war" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#2020:_Saudi-Russian_price_war"> <div class="vector-toc-text"> 2.13 2020: Saudi-Russian price war </div> </a> <ul id="toc-2020:_Saudi-Russian_price_war-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-2021:_Saudi-Emirati_dispute" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#2021:_Saudi-Emirati_dispute"> <div class="vector-toc-text"> 2.14 2021: Saudi-Emirati dispute </div> </a> <ul id="toc-2021:_Saudi-Emirati_dispute-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-2021–present:_Global_energy_crisis" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#2021–present:_Global_energy_crisis"> <div class="vector-toc-text"> 2.15 2021–present: Global energy crisis </div> </a> <ul id="toc-2021–present:_Global_energy_crisis-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-2022:_Oil_production_cut" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#2022:_Oil_production_cut"> <div class="vector-toc-text"> 2.16 2022: Oil production cut </div> </a> <ul id="toc-2022:_Oil_production_cut-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Membership" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Membership"> <div class="vector-toc-text"> 3 Membership </div> </a> <button aria-controls="toc-Membership-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> Toggle Membership subsection </button> <ul id="toc-Membership-sublist" class="vector-toc-list"> <li id="toc-Current_member_countries" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Current_member_countries"> <div class="vector-toc-text"> 3.1 Current member countries </div> </a> <ul id="toc-Current_member_countries-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-OPEC+" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#OPEC+"> <div class="vector-toc-text"> 3.2 OPEC+ </div> </a> <ul id="toc-OPEC+-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Observers" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Observers"> <div class="vector-toc-text"> 3.3 Observers </div> </a> <ul id="toc-Observers-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-New_members" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#New_members"> <div class="vector-toc-text"> 4 New members </div> </a> <button aria-controls="toc-New_members-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> Toggle New members subsection </button> <ul id="toc-New_members-sublist" class="vector-toc-list"> <li id="toc-Lapsed_members" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Lapsed_members"> <div class="vector-toc-text"> 4.1 Lapsed members </div> </a> <ul id="toc-Lapsed_members-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Market_information" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Market_information"> <div class="vector-toc-text"> 5 Market information </div> </a> <button aria-controls="toc-Market_information-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> Toggle Market information subsection </button> <ul id="toc-Market_information-sublist" class="vector-toc-list"> <li id="toc-Publications_and_research" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Publications_and_research"> <div class="vector-toc-text"> 5.1 Publications and research </div> </a> <ul id="toc-Publications_and_research-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Crude_oil_benchmarks" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Crude_oil_benchmarks"> <div class="vector-toc-text"> 5.2 Crude oil benchmarks </div> </a> <ul id="toc-Crude_oil_benchmarks-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Spare_capacity" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Spare_capacity"> <div class="vector-toc-text"> 5.3 Spare capacity </div> </a> <ul id="toc-Spare_capacity-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> 6 See also </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Notes" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Notes"> <div class="vector-toc-text"> 7 Notes </div> </a> <ul id="toc-Notes-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> 8 References </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> 9 Further reading </div> </a> <ul id="toc-Further_reading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> 10 External links </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" > Toggle the table of contents </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading">OPEC</h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 132 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-132" aria-hidden="true" > 132 languages </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-af mw-list-item"><a href="https://af.wikipedia.org/wiki/OPUL" title="OPUL – Afrikaans" lang="af" hreflang="af" data-title="OPUL" data-language-autonym="Afrikaans" data-language-local-name="Afrikaans" class="interlanguage-link-target">Afrikaans</a></li><li class="interlanguage-link interwiki-als mw-list-item"><a href="https://als.wikipedia.org/wiki/Organisation_erd%C3%B6lexportierender_L%C3%A4nder" title="Organisation erdölexportierender Länder – Alemannic" lang="gsw" hreflang="gsw" data-title="Organisation erdölexportierender Länder" data-language-autonym="Alemannisch" data-language-local-name="Alemannic" class="interlanguage-link-target">Alemannisch</a></li><li class="interlanguage-link interwiki-am mw-list-item"><a href="https://am.wikipedia.org/wiki/%E1%8A%A6%E1%8D%94%E1%8A%AD" title="ኦፔክ – Amharic" lang="am" hreflang="am" data-title="ኦፔክ" data-language-autonym="አማርኛ" data-language-local-name="Amharic" class="interlanguage-link-target">አማርኛ</a></li><li class="interlanguage-link interwiki-anp mw-list-item"><a href="https://anp.wikipedia.org/wiki/%E0%A4%93%E0%A4%AA%E0%A5%87%E0%A4%95" title="ओपेक – Angika" lang="anp" hreflang="anp" data-title="ओपेक" data-language-autonym="अंगिका" data-language-local-name="Angika" class="interlanguage-link-target">अंगिका</a></li><li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%A3%D9%88%D8%A8%D9%83" title="أوبك – Arabic" lang="ar" hreflang="ar" data-title="أوبك" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target">العربية</a></li><li class="interlanguage-link interwiki-an mw-list-item"><a href="https://an.wikipedia.org/wiki/Organizaci%C3%B3n_de_Pa%C3%ADses_Exportadors_de_Petrolio" title="Organización de Países Exportadors de Petrolio – Aragonese" lang="an" hreflang="an" data-title="Organización de Países Exportadors de Petrolio" data-language-autonym="Aragonés" data-language-local-name="Aragonese" class="interlanguage-link-target">Aragonés</a></li><li class="interlanguage-link interwiki-ast mw-list-item"><a href="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" data-title="Organización de Países Esportadores de Petroleu" data-language-autonym="Asturianu" data-language-local-name="Asturian" class="interlanguage-link-target">Asturianu</a></li><li class="interlanguage-link interwiki-gn mw-list-item"><a href="https://gn.wikipedia.org/wiki/Tet%C3%A3ngu%C3%A9ra_Oguerahauk%C3%A1va_Itakyra_Atyguasu" title="Tetãnguéra Oguerahaukáva Itakyra Atyguasu – Guarani" lang="gn" hreflang="gn" data-title="Tetãnguéra Oguerahaukáva Itakyra Atyguasu" data-language-autonym="Avañe'ẽ" data-language-local-name="Guarani" class="interlanguage-link-target">Avañe'ẽ</a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="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" data-title="Neft İxrac Edən Ölkələr Birliyi" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target">Azərbaycanca</a></li><li class="interlanguage-link interwiki-azb mw-list-item"><a href="https://azb.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DA%A9" title="اوپک – South Azerbaijani" lang="azb" hreflang="azb" data-title="اوپک" data-language-autonym="تۆرکجه" data-language-local-name="South Azerbaijani" class="interlanguage-link-target">تۆرکجه</a></li><li class="interlanguage-link interwiki-bn mw-list-item"><a href="https://bn.wikipedia.org/wiki/%E0%A6%93%E0%A6%AA%E0%A7%87%E0%A6%95" title="ওপেক – Bangla" lang="bn" hreflang="bn" data-title="ওপেক" data-language-autonym="বাংলা" data-language-local-name="Bangla" class="interlanguage-link-target">বাংলা</a></li><li class="interlanguage-link interwiki-zh-min-nan mw-list-item"><a href="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 – Minnan" lang="nan" hreflang="nan" data-title="Chio̍h-iû Su-chhut Kok-ka Cho͘-chit" data-language-autonym="閩南語 / Bân-lâm-gú" data-language-local-name="Minnan" class="interlanguage-link-target">閩南語 / Bân-lâm-gú</a></li><li class="interlanguage-link interwiki-ba mw-list-item"><a href="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" data-title="Нефть экспортлаусы илдәр ойошмаһы" data-language-autonym="Башҡортса" data-language-local-name="Bashkir" class="interlanguage-link-target">Башҡортса</a></li><li class="interlanguage-link interwiki-be mw-list-item"><a href="https://be.wikipedia.org/wiki/%D0%90%D0%9F%D0%95%D0%9A" title="АПЕК – Belarusian" lang="be" hreflang="be" data-title="АПЕК" data-language-autonym="Беларуская" data-language-local-name="Belarusian" class="interlanguage-link-target">Беларуская</a></li><li class="interlanguage-link interwiki-be-x-old mw-list-item"><a href="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" data-title="Арганізацыя краін-экспартэраў нафты" data-language-autonym="Беларуская (тарашкевіца)" data-language-local-name="Belarusian (Taraškievica orthography)" class="interlanguage-link-target">Беларуская (тарашкевіца)</a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="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" data-title="Организация на страните износителки на петрол" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target">Български</a></li><li class="interlanguage-link interwiki-bs mw-list-item"><a href="https://bs.wikipedia.org/wiki/OPEC" title="OPEC – Bosnian" lang="bs" hreflang="bs" data-title="OPEC" data-language-autonym="Bosanski" data-language-local-name="Bosnian" class="interlanguage-link-target">Bosanski</a></li><li class="interlanguage-link interwiki-br mw-list-item"><a href="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" data-title="Aozadur ar Broioù a Ezporzh Petrol" data-language-autonym="Brezhoneg" data-language-local-name="Breton" class="interlanguage-link-target">Brezhoneg</a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="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" data-title="Organització de Països Exportadors de Petroli" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target">Català</a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="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" data-title="Organizace zemí vyvážejících ropu" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target">Čeština</a></li><li class="interlanguage-link interwiki-cy mw-list-item"><a href="https://cy.wikipedia.org/wiki/OPEC" title="OPEC – Welsh" lang="cy" hreflang="cy" data-title="OPEC" data-language-autonym="Cymraeg" data-language-local-name="Welsh" class="interlanguage-link-target">Cymraeg</a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/OPEC" title="OPEC – Danish" lang="da" hreflang="da" data-title="OPEC" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target">Dansk</a></li><li class="interlanguage-link interwiki-ary mw-list-item"><a href="https://ary.wikipedia.org/wiki/%D8%A3%D9%88%D9%BE%D9%8A%D9%83" title="أوپيك – Moroccan Arabic" lang="ary" hreflang="ary" data-title="أوپيك" data-language-autonym="الدارجة" data-language-local-name="Moroccan Arabic" class="interlanguage-link-target">الدارجة</a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Organisation_erd%C3%B6lexportierender_L%C3%A4nder" title="Organisation erdölexportierender Länder – German" lang="de" hreflang="de" data-title="Organisation erdölexportierender Länder" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target">Deutsch</a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/OPEC" title="OPEC – Estonian" lang="et" hreflang="et" data-title="OPEC" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target">Eesti</a></li><li class="interlanguage-link interwiki-el mw-list-item"><a href="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" data-title="Οργανισμός Εξαγωγών Πετρελαιοπαραγωγών Χωρών" data-language-autonym="Ελληνικά" data-language-local-name="Greek" class="interlanguage-link-target">Ελληνικά</a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="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" data-title="Organización de Países Exportadores de Petróleo" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target">Español</a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://eo.wikipedia.org/wiki/OPEL" title="OPEL – Esperanto" lang="eo" hreflang="eo" data-title="OPEL" data-language-autonym="Esperanto" data-language-local-name="Esperanto" class="interlanguage-link-target">Esperanto</a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/LPEE" title="LPEE – Basque" lang="eu" hreflang="eu" data-title="LPEE" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target">Euskara</a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DA%A9" title="اوپک – Persian" lang="fa" hreflang="fa" data-title="اوپک" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target">فارسی</a></li><li class="interlanguage-link interwiki-hif mw-list-item"><a href="https://hif.wikipedia.org/wiki/OPEC" title="OPEC – Fiji Hindi" lang="hif" hreflang="hif" data-title="OPEC" data-language-autonym="Fiji Hindi" data-language-local-name="Fiji Hindi" class="interlanguage-link-target">Fiji Hindi</a></li><li class="interlanguage-link interwiki-fo mw-list-item"><a href="https://fo.wikipedia.org/wiki/OPEC" title="OPEC – Faroese" lang="fo" hreflang="fo" data-title="OPEC" data-language-autonym="Føroyskt" data-language-local-name="Faroese" class="interlanguage-link-target">Føroyskt</a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="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" data-title="Organisation des pays exportateurs de pétrole" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target">Français</a></li><li class="interlanguage-link interwiki-fy mw-list-item"><a href="https://fy.wikipedia.org/wiki/Organisaasje_fan_Oalje_Eksportearjende_Lannen" title="Organisaasje fan Oalje Eksportearjende Lannen – Western Frisian" lang="fy" hreflang="fy" data-title="Organisaasje fan Oalje Eksportearjende Lannen" data-language-autonym="Frysk" data-language-local-name="Western Frisian" class="interlanguage-link-target">Frysk</a></li><li class="interlanguage-link interwiki-fur mw-list-item"><a href="https://fur.wikipedia.org/wiki/OPEC" title="OPEC – Friulian" lang="fur" hreflang="fur" data-title="OPEC" data-language-autonym="Furlan" data-language-local-name="Friulian" class="interlanguage-link-target">Furlan</a></li><li class="interlanguage-link interwiki-ga mw-list-item"><a href="https://ga.wikipedia.org/wiki/Eagra%C3%ADocht_na_dT%C3%ADortha_Onnmhairithe_Peitriliam_(ETOP)" title="Eagraíocht na dTíortha Onnmhairithe Peitriliam (ETOP) – Irish" lang="ga" hreflang="ga" data-title="Eagraíocht na dTíortha Onnmhairithe Peitriliam (ETOP)" data-language-autonym="Gaeilge" data-language-local-name="Irish" class="interlanguage-link-target">Gaeilge</a></li><li class="interlanguage-link interwiki-gl mw-list-item"><a href="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" data-title="Organización de Países Exportadores de Petróleo" data-language-autonym="Galego" data-language-local-name="Galician" class="interlanguage-link-target">Galego</a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="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" data-title="석유 수출국 기구" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target">한국어</a></li><li class="interlanguage-link interwiki-ha mw-list-item"><a href="https://ha.wikipedia.org/wiki/OPEC" title="OPEC – Hausa" lang="ha" hreflang="ha" data-title="OPEC" data-language-autonym="Hausa" data-language-local-name="Hausa" class="interlanguage-link-target">Hausa</a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="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" data-title="Նավթ արտահանող երկրների կազմակերպություն" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target">Հայերեն</a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%93%E0%A4%AA%E0%A5%87%E0%A4%95" title="ओपेक – Hindi" lang="hi" hreflang="hi" data-title="ओपेक" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target">हिन्दी</a></li><li class="interlanguage-link interwiki-hr mw-list-item"><a href="https://hr.wikipedia.org/wiki/OPEC" title="OPEC – Croatian" lang="hr" hreflang="hr" data-title="OPEC" data-language-autonym="Hrvatski" data-language-local-name="Croatian" class="interlanguage-link-target">Hrvatski</a></li><li class="interlanguage-link interwiki-io mw-list-item"><a href="https://io.wikipedia.org/wiki/ONEP" title="ONEP – Ido" lang="io" hreflang="io" data-title="ONEP" data-language-autonym="Ido" data-language-local-name="Ido" class="interlanguage-link-target">Ido</a></li><li class="interlanguage-link interwiki-ilo mw-list-item"><a href="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" data-title="Gunglo ti Pagpagilian nga Agiluluwas ti Petrolio" data-language-autonym="Ilokano" data-language-local-name="Iloko" class="interlanguage-link-target">Ilokano</a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Organisasi_Negara-Negara_Pengekspor_Minyak_Bumi" title="Organisasi Negara-Negara Pengekspor Minyak Bumi – Indonesian" lang="id" hreflang="id" data-title="Organisasi Negara-Negara Pengekspor Minyak Bumi" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target">Bahasa Indonesia</a></li><li class="interlanguage-link interwiki-is mw-list-item"><a href="https://is.wikipedia.org/wiki/Samt%C3%B6k_ol%C3%ADuframlei%C3%B0slur%C3%ADkja" title="Samtök olíuframleiðsluríkja – Icelandic" lang="is" hreflang="is" data-title="Samtök olíuframleiðsluríkja" data-language-autonym="Íslenska" data-language-local-name="Icelandic" class="interlanguage-link-target">Íslenska</a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Organizzazione_dei_Paesi_esportatori_di_petrolio" title="Organizzazione dei Paesi esportatori di petrolio – Italian" lang="it" hreflang="it" data-title="Organizzazione dei Paesi esportatori di petrolio" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target">Italiano</a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%90%D7%95%D7%A4%22%D7%A7" title="אופ"ק – Hebrew" lang="he" hreflang="he" data-title="אופ"ק" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target">עברית</a></li><li class="interlanguage-link interwiki-jv mw-list-item"><a href="https://jv.wikipedia.org/wiki/OPEC" title="OPEC – Javanese" lang="jv" hreflang="jv" data-title="OPEC" data-language-autonym="Jawa" data-language-local-name="Javanese" class="interlanguage-link-target">Jawa</a></li><li class="interlanguage-link interwiki-kbp mw-list-item"><a href="https://kbp.wikipedia.org/wiki/OPEP_%C5%8Bgb%C9%9By%C9%9B" title="OPEP ŋgbɛyɛ – Kabiye" lang="kbp" hreflang="kbp" data-title="OPEP ŋgbɛyɛ" data-language-autonym="Kabɩyɛ" data-language-local-name="Kabiye" class="interlanguage-link-target">Kabɩyɛ</a></li><li class="interlanguage-link interwiki-kn mw-list-item"><a href="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" data-title="ಒಪೆಕ್" data-language-autonym="ಕನ್ನಡ" data-language-local-name="Kannada" class="interlanguage-link-target">ಕನ್ನಡ</a></li><li class="interlanguage-link interwiki-krc mw-list-item"><a href="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" data-title="Нефтни экспортёрлары болгъан къралланы организациясы" data-language-autonym="Къарачай-малкъар" data-language-local-name="Karachay-Balkar" class="interlanguage-link-target">Къарачай-малкъар</a></li><li class="interlanguage-link interwiki-ka mw-list-item"><a href="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" data-title="ნავთობის ექსპორტიორ ქვეყანათა ორგანიზაცია" data-language-autonym="ქართული" data-language-local-name="Georgian" class="interlanguage-link-target">ქართული</a></li><li class="interlanguage-link interwiki-kk mw-list-item"><a href="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" data-title="Мұнай экспорттаушы елдер ұйымы" data-language-autonym="Қазақша" data-language-local-name="Kazakh" class="interlanguage-link-target">Қазақша</a></li><li class="interlanguage-link interwiki-kw mw-list-item"><a href="https://kw.wikipedia.org/wiki/OPEC" title="OPEC – Cornish" lang="kw" hreflang="kw" data-title="OPEC" data-language-autonym="Kernowek" data-language-local-name="Cornish" class="interlanguage-link-target">Kernowek</a></li><li class="interlanguage-link interwiki-sw mw-list-item"><a href="https://sw.wikipedia.org/wiki/Jumuiya_ya_nchi_zinazozalisha_mafuta_duniani" title="Jumuiya ya nchi zinazozalisha mafuta duniani – Swahili" lang="sw" hreflang="sw" data-title="Jumuiya ya nchi zinazozalisha mafuta duniani" data-language-autonym="Kiswahili" data-language-local-name="Swahili" class="interlanguage-link-target">Kiswahili</a></li><li class="interlanguage-link interwiki-ht mw-list-item"><a href="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" data-title="Òganizasyon nan Petwòl Peyi Leksportasyon" data-language-autonym="Kreyòl ayisyen" data-language-local-name="Haitian Creole" class="interlanguage-link-target">Kreyòl ayisyen</a></li><li class="interlanguage-link interwiki-ku mw-list-item"><a href="https://ku.wikipedia.org/wiki/OPEC" title="OPEC – Kurdish" lang="ku" hreflang="ku" data-title="OPEC" data-language-autonym="Kurdî" data-language-local-name="Kurdish" class="interlanguage-link-target">Kurdî</a></li><li class="interlanguage-link interwiki-ky mw-list-item"><a href="https://ky.wikipedia.org/wiki/%D0%9C%D1%83%D0%BD%D0%B0%D0%B9_%D1%8D%D0%BA%D1%81%D0%BF%D0%BE%D1%80%D1%82%D1%82%D0%BE%D0%B3%D0%BE%D0%BD_%D3%A9%D0%BB%D0%BA%D3%A9%D0%BB%D3%A9%D1%80%D0%B4%D2%AF%D0%BD_%D1%83%D1%8E%D0%BC%D1%83" title="Мунай экспорттогон өлкөлөрдүн уюму – Kyrgyz" lang="ky" hreflang="ky" data-title="Мунай экспорттогон өлкөлөрдүн уюму" data-language-autonym="Кыргызча" data-language-local-name="Kyrgyz" class="interlanguage-link-target">Кыргызча</a></li><li class="interlanguage-link interwiki-la mw-list-item"><a href="https://la.wikipedia.org/wiki/OPEC" title="OPEC – Latin" lang="la" hreflang="la" data-title="OPEC" data-language-autonym="Latina" data-language-local-name="Latin" class="interlanguage-link-target">Latina</a></li><li class="interlanguage-link interwiki-lv mw-list-item"><a href="https://lv.wikipedia.org/wiki/OPEC" title="OPEC – Latvian" lang="lv" hreflang="lv" data-title="OPEC" data-language-autonym="Latviešu" data-language-local-name="Latvian" class="interlanguage-link-target">Latviešu</a></li><li class="interlanguage-link interwiki-lb mw-list-item"><a href="https://lb.wikipedia.org/wiki/Organization_of_the_Petroleum_Exporting_Countries" title="Organization of the Petroleum Exporting Countries – Luxembourgish" lang="lb" hreflang="lb" data-title="Organization of the Petroleum Exporting Countries" data-language-autonym="Lëtzebuergesch" data-language-local-name="Luxembourgish" class="interlanguage-link-target">Lëtzebuergesch</a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/OPEC" title="OPEC – Lithuanian" lang="lt" hreflang="lt" data-title="OPEC" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target">Lietuvių</a></li><li class="interlanguage-link interwiki-lmo mw-list-item"><a href="https://lmo.wikipedia.org/wiki/Organizazzion_di_Pajes_Esportator_de_Petroli" title="Organizazzion di Pajes Esportator de Petroli – Lombard" lang="lmo" hreflang="lmo" data-title="Organizazzion di Pajes Esportator de Petroli" data-language-autonym="Lombard" data-language-local-name="Lombard" class="interlanguage-link-target">Lombard</a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/OPEC" title="OPEC – Hungarian" lang="hu" hreflang="hu" data-title="OPEC" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target">Magyar</a></li><li class="interlanguage-link interwiki-mk mw-list-item"><a href="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" data-title="Организација на земји извознички на нафта" data-language-autonym="Македонски" data-language-local-name="Macedonian" class="interlanguage-link-target">Македонски</a></li><li class="interlanguage-link interwiki-mg mw-list-item"><a href="https://mg.wikipedia.org/wiki/Fikambanan%27_ny_Firenena_Mpanondrana_Solitany" title="Fikambanan' ny Firenena Mpanondrana Solitany – Malagasy" lang="mg" hreflang="mg" data-title="Fikambanan' ny Firenena Mpanondrana Solitany" data-language-autonym="Malagasy" data-language-local-name="Malagasy" class="interlanguage-link-target">Malagasy</a></li><li class="interlanguage-link interwiki-ml mw-list-item"><a href="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" data-title="ഒപെക്" data-language-autonym="മലയാളം" data-language-local-name="Malayalam" class="interlanguage-link-target">മലയാളം</a></li><li class="interlanguage-link interwiki-mr mw-list-item"><a href="https://mr.wikipedia.org/wiki/%E0%A4%93%E0%A4%AA%E0%A5%87%E0%A4%95" title="ओपेक – Marathi" lang="mr" hreflang="mr" data-title="ओपेक" data-language-autonym="मराठी" data-language-local-name="Marathi" class="interlanguage-link-target">मराठी</a></li><li class="interlanguage-link interwiki-arz mw-list-item"><a href="https://arz.wikipedia.org/wiki/%D8%A7%D9%88%D8%A8%D9%8A%D9%83" title="اوبيك – Egyptian Arabic" lang="arz" hreflang="arz" data-title="اوبيك" data-language-autonym="مصرى" data-language-local-name="Egyptian Arabic" class="interlanguage-link-target">مصرى</a></li><li class="interlanguage-link interwiki-mzn mw-list-item"><a href="https://mzn.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DA%A9" title="اوپک – Mazanderani" lang="mzn" hreflang="mzn" data-title="اوپک" data-language-autonym="مازِرونی" data-language-local-name="Mazanderani" class="interlanguage-link-target">مازِرونی</a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Pertubuhan_Negara-negara_Pengeksport_Petroleum" title="Pertubuhan Negara-negara Pengeksport Petroleum – Malay" lang="ms" hreflang="ms" data-title="Pertubuhan Negara-negara Pengeksport Petroleum" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target">Bahasa Melayu</a></li><li class="interlanguage-link interwiki-mn mw-list-item"><a href="https://mn.wikipedia.org/wiki/%D0%93%D0%B0%D0%B7%D1%80%D1%8B%D0%BD_%D0%A2%D0%BE%D1%81_%D0%AD%D0%BA%D1%81%D0%BF%D0%BE%D1%80%D1%82%D0%BB%D0%BE%D0%B3%D1%87_%D0%9E%D1%80%D0%BD%D1%83%D1%83%D0%B4%D1%8B%D0%BD_%D0%91%D0%B0%D0%B9%D0%B3%D1%83%D1%83%D0%BB%D0%BB%D0%B0%D0%B3%D0%B0" title="Газрын Тос Экспортлогч Орнуудын Байгууллага – Mongolian" lang="mn" hreflang="mn" data-title="Газрын Тос Экспортлогч Орнуудын Байгууллага" data-language-autonym="Монгол" data-language-local-name="Mongolian" class="interlanguage-link-target">Монгол</a></li><li class="interlanguage-link interwiki-my mw-list-item"><a href="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" data-title="အိုပက်" data-language-autonym="မြန်မာဘာသာ" data-language-local-name="Burmese" class="interlanguage-link-target">မြန်မာဘာသာ</a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Organisatie_van_olie-exporterende_landen" title="Organisatie van olie-exporterende landen – Dutch" lang="nl" hreflang="nl" data-title="Organisatie van olie-exporterende landen" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target">Nederlands</a></li><li class="interlanguage-link interwiki-ne mw-list-item"><a href="https://ne.wikipedia.org/wiki/%E0%A4%93%E0%A4%AA%E0%A5%87%E0%A4%95" title="ओपेक – Nepali" lang="ne" hreflang="ne" data-title="ओपेक" data-language-autonym="नेपाली" data-language-local-name="Nepali" class="interlanguage-link-target">नेपाली</a></li><li class="interlanguage-link interwiki-new mw-list-item"><a href="https://new.wikipedia.org/wiki/%E0%A4%93%E0%A4%AA%E0%A5%87%E0%A4%95" title="ओपेक – Newari" lang="new" hreflang="new" data-title="ओपेक" data-language-autonym="नेपाल भाषा" data-language-local-name="Newari" class="interlanguage-link-target">नेपाल भाषा</a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="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" data-title="石油輸出国機構" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target">日本語</a></li><li class="interlanguage-link interwiki-ce mw-list-item"><a href="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" data-title="Мехкдаьттан экспортхойн пачхьалкхийн организаци" data-language-autonym="Нохчийн" data-language-local-name="Chechen" class="interlanguage-link-target">Нохчийн</a></li><li class="interlanguage-link interwiki-frr mw-list-item"><a href="https://frr.wikipedia.org/wiki/OPEC" title="OPEC – Northern Frisian" lang="frr" hreflang="frr" data-title="OPEC" data-language-autonym="Nordfriisk" data-language-local-name="Northern Frisian" class="interlanguage-link-target">Nordfriisk</a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/OPEC" title="OPEC – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="OPEC" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target">Norsk bokmål</a></li><li class="interlanguage-link interwiki-nn mw-list-item"><a href="https://nn.wikipedia.org/wiki/Organisasjonen_av_oljeeksporterande_land" title="Organisasjonen av oljeeksporterande land – Norwegian Nynorsk" lang="nn" hreflang="nn" data-title="Organisasjonen av oljeeksporterande land" data-language-autonym="Norsk nynorsk" data-language-local-name="Norwegian Nynorsk" class="interlanguage-link-target">Norsk nynorsk</a></li><li class="interlanguage-link interwiki-oc mw-list-item"><a href="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" data-title="Organizacion dels Païses Exportadors de Petròli" data-language-autonym="Occitan" data-language-local-name="Occitan" class="interlanguage-link-target">Occitan</a></li><li class="interlanguage-link interwiki-or mw-list-item"><a href="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" data-title="ଓପିଇସି" data-language-autonym="ଓଡ଼ିଆ" data-language-local-name="Odia" class="interlanguage-link-target">ଓଡ଼ିଆ</a></li><li class="interlanguage-link interwiki-uz mw-list-item"><a href="https://uz.wikipedia.org/wiki/OPEC" title="OPEC – Uzbek" lang="uz" hreflang="uz" data-title="OPEC" data-language-autonym="Oʻzbekcha / ўзбекча" data-language-local-name="Uzbek" class="interlanguage-link-target">Oʻzbekcha / ўзбекча</a></li><li class="interlanguage-link interwiki-pa mw-list-item"><a href="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" data-title="ਓਪੈੱਕ" data-language-autonym="ਪੰਜਾਬੀ" data-language-local-name="Punjabi" class="interlanguage-link-target">ਪੰਜਾਬੀ</a></li><li class="interlanguage-link interwiki-pnb mw-list-item"><a href="https://pnb.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DB%8C%DA%A9" title="اوپیک – Western Punjabi" lang="pnb" hreflang="pnb" data-title="اوپیک" data-language-autonym="پنجابی" data-language-local-name="Western Punjabi" class="interlanguage-link-target">پنجابی</a></li><li class="interlanguage-link interwiki-ps mw-list-item"><a href="https://ps.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DA%A9" title="اوپک – Pashto" lang="ps" hreflang="ps" data-title="اوپک" data-language-autonym="پښتو" data-language-local-name="Pashto" class="interlanguage-link-target">پښتو</a></li><li class="interlanguage-link interwiki-jam mw-list-item"><a href="https://jam.wikipedia.org/wiki/OPEC" title="OPEC – Jamaican Creole English" lang="jam" hreflang="jam" data-title="OPEC" data-language-autonym="Patois" data-language-local-name="Jamaican Creole English" class="interlanguage-link-target">Patois</a></li><li class="interlanguage-link interwiki-pms mw-list-item"><a href="https://pms.wikipedia.org/wiki/Organisassion_dij_pais_esportator_%C3%ABd_petreuli" title="Organisassion dij pais esportator ëd petreuli – Piedmontese" lang="pms" hreflang="pms" data-title="Organisassion dij pais esportator ëd petreuli" data-language-autonym="Piemontèis" data-language-local-name="Piedmontese" class="interlanguage-link-target">Piemontèis</a></li><li class="interlanguage-link interwiki-nds mw-list-item"><a href="https://nds.wikipedia.org/wiki/OPEC" title="OPEC – Low German" lang="nds" hreflang="nds" data-title="OPEC" data-language-autonym="Plattdüütsch" data-language-local-name="Low German" class="interlanguage-link-target">Plattdüütsch</a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/OPEC" title="OPEC – Polish" lang="pl" hreflang="pl" data-title="OPEC" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target">Polski</a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="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" data-title="Organização dos Países Exportadores de Petróleo" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target">Português</a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/OPEC" title="OPEC – Romanian" lang="ro" hreflang="ro" data-title="OPEC" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target">Română</a></li><li class="interlanguage-link interwiki-rue mw-list-item"><a href="https://rue.wikipedia.org/wiki/%D0%9E%D0%9F%D0%95%D0%9A" title="ОПЕК – Rusyn" lang="rue" hreflang="rue" data-title="ОПЕК" data-language-autonym="Русиньскый" data-language-local-name="Rusyn" class="interlanguage-link-target">Русиньскый</a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="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" data-title="Организация стран — экспортёров нефти" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target">Русский</a></li><li class="interlanguage-link interwiki-sah mw-list-item"><a href="https://sah.wikipedia.org/wiki/OPEC" title="OPEC – Yakut" lang="sah" hreflang="sah" data-title="OPEC" data-language-autonym="Саха тыла" data-language-local-name="Yakut" class="interlanguage-link-target">Саха тыла</a></li><li class="interlanguage-link interwiki-sat mw-list-item"><a href="https://sat.wikipedia.org/wiki/%E1%B1%B3%E1%B1%AF%E1%B1%AE%E1%B1%A0" title="ᱳᱯᱮᱠ – Santali" lang="sat" hreflang="sat" data-title="ᱳᱯᱮᱠ" data-language-autonym="ᱥᱟᱱᱛᱟᱲᱤ" data-language-local-name="Santali" class="interlanguage-link-target">ᱥᱟᱱᱛᱟᱲᱤ</a></li><li class="interlanguage-link interwiki-sq mw-list-item"><a href="https://sq.wikipedia.org/wiki/OPEC" title="OPEC – Albanian" lang="sq" hreflang="sq" data-title="OPEC" data-language-autonym="Shqip" data-language-local-name="Albanian" class="interlanguage-link-target">Shqip</a></li><li class="interlanguage-link interwiki-scn mw-list-item"><a href="https://scn.wikipedia.org/wiki/OPEC" title="OPEC – Sicilian" lang="scn" hreflang="scn" data-title="OPEC" data-language-autonym="Sicilianu" data-language-local-name="Sicilian" class="interlanguage-link-target">Sicilianu</a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/OPEC" title="OPEC – Simple English" lang="en-simple" hreflang="en-simple" data-title="OPEC" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target">Simple English</a></li><li class="interlanguage-link interwiki-sk mw-list-item"><a href="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" data-title="Organizácia krajín vyvážajúcich ropu" data-language-autonym="Slovenčina" data-language-local-name="Slovak" class="interlanguage-link-target">Slovenčina</a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Organizacija_dr%C5%BEav_izvoznic_nafte" title="Organizacija držav izvoznic nafte – Slovenian" lang="sl" hreflang="sl" data-title="Organizacija držav izvoznic nafte" data-language-autonym="Slovenščina" data-language-local-name="Slovenian" class="interlanguage-link-target">Slovenščina</a></li><li class="interlanguage-link interwiki-so mw-list-item"><a href="https://so.wikipedia.org/wiki/OPEC" title="OPEC – Somali" lang="so" hreflang="so" data-title="OPEC" data-language-autonym="Soomaaliga" data-language-local-name="Somali" class="interlanguage-link-target">Soomaaliga</a></li><li class="interlanguage-link interwiki-ckb mw-list-item"><a href="https://ckb.wikipedia.org/wiki/%D8%A6%DB%86%D9%BE%DB%8E%DA%A9" title="ئۆپێک – Central Kurdish" lang="ckb" hreflang="ckb" data-title="ئۆپێک" data-language-autonym="کوردی" data-language-local-name="Central Kurdish" class="interlanguage-link-target">کوردی</a></li><li class="interlanguage-link interwiki-sr mw-list-item"><a href="https://sr.wikipedia.org/wiki/OPEK" title="OPEK – Serbian" lang="sr" hreflang="sr" data-title="OPEK" data-language-autonym="Српски / srpski" data-language-local-name="Serbian" class="interlanguage-link-target">Српски / srpski</a></li><li class="interlanguage-link interwiki-sh mw-list-item"><a href="https://sh.wikipedia.org/wiki/OPEC" title="OPEC – Serbo-Croatian" lang="sh" hreflang="sh" data-title="OPEC" data-language-autonym="Srpskohrvatski / српскохрватски" data-language-local-name="Serbo-Croatian" class="interlanguage-link-target">Srpskohrvatski / српскохрватски</a></li><li class="interlanguage-link interwiki-su mw-list-item"><a href="https://su.wikipedia.org/wiki/OPEC" title="OPEC – Sundanese" lang="su" hreflang="su" data-title="OPEC" data-language-autonym="Sunda" data-language-local-name="Sundanese" class="interlanguage-link-target">Sunda</a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/OPEC" title="OPEC – Finnish" lang="fi" hreflang="fi" data-title="OPEC" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target">Suomi</a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Opec" title="Opec – Swedish" lang="sv" hreflang="sv" data-title="Opec" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target">Svenska</a></li><li class="interlanguage-link interwiki-tl mw-list-item"><a href="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" data-title="Organisasyon ng mga Bansang Nagluluwas ng Langis" data-language-autonym="Tagalog" data-language-local-name="Tagalog" class="interlanguage-link-target">Tagalog</a></li><li class="interlanguage-link interwiki-ta mw-list-item"><a href="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" data-title="ஓப்பெக்" data-language-autonym="தமிழ்" data-language-local-name="Tamil" class="interlanguage-link-target">தமிழ்</a></li><li class="interlanguage-link interwiki-roa-tara mw-list-item"><a href="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" data-title="Organizzazione de le Pajèsere Esportature de Petrolie" data-language-autonym="Tarandíne" data-language-local-name="Tarantino" class="interlanguage-link-target">Tarandíne</a></li><li class="interlanguage-link interwiki-tt mw-list-item"><a href="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" data-title="Neft çitkä çığaruçı illär oyışması" data-language-autonym="Татарча / tatarça" data-language-local-name="Tatar" class="interlanguage-link-target">Татарча / tatarça</a></li><li class="interlanguage-link interwiki-th mw-list-item"><a href="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" data-title="โอเปก" data-language-autonym="ไทย" data-language-local-name="Thai" class="interlanguage-link-target">ไทย</a></li><li class="interlanguage-link interwiki-tg mw-list-item"><a href="https://tg.wikipedia.org/wiki/%D0%A2%D0%B0%D1%88%D0%BA%D0%B8%D0%BB%D0%BE%D1%82%D0%B8_%D0%BA%D0%B8%D1%88%D0%B2%D0%B0%D1%80%D2%B3%D0%BE%D0%B8_%D1%81%D0%BE%D0%B4%D0%B8%D1%80%D0%BA%D1%83%D0%BD%D0%B0%D0%BD%D0%B4%D0%B0%D0%B8_%D0%BD%D0%B0%D1%84%D1%82" title="Ташкилоти кишварҳои содиркунандаи нафт – Tajik" lang="tg" hreflang="tg" data-title="Ташкилоти кишварҳои содиркунандаи нафт" data-language-autonym="Тоҷикӣ" data-language-local-name="Tajik" class="interlanguage-link-target">Тоҷикӣ</a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/OPEC" title="OPEC – Turkish" lang="tr" hreflang="tr" data-title="OPEC" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target">Türkçe</a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%9E%D0%9F%D0%95%D0%9A" title="ОПЕК – Ukrainian" lang="uk" hreflang="uk" data-title="ОПЕК" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target">Українська</a></li><li class="interlanguage-link interwiki-ur mw-list-item"><a href="https://ur.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DB%8C%DA%A9" title="اوپیک – Urdu" lang="ur" hreflang="ur" data-title="اوپیک" data-language-autonym="اردو" data-language-local-name="Urdu" class="interlanguage-link-target">اردو</a></li><li class="interlanguage-link interwiki-ug mw-list-item"><a href="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" data-title="نېفىت ئېكىسپورت قىلغۇچى دۆلەتلەر تەشكىلاتى (OPEC)" data-language-autonym="ئۇيغۇرچە / Uyghurche" data-language-local-name="Uyghur" class="interlanguage-link-target">ئۇيغۇرچە / Uyghurche</a></li><li class="interlanguage-link interwiki-vec mw-list-item"><a href="https://vec.wikipedia.org/wiki/Organizasion_dei_Paezi_esportatori_de_petrojo" title="Organizasion dei Paezi esportatori de petrojo – Venetian" lang="vec" hreflang="vec" data-title="Organizasion dei Paezi esportatori de petrojo" data-language-autonym="Vèneto" data-language-local-name="Venetian" class="interlanguage-link-target">Vèneto</a></li><li class="interlanguage-link interwiki-vep mw-list-item"><a href="https://vep.wikipedia.org/wiki/Kivivoin_eksportirujiden_valdkundoiden_organizacii" title="Kivivoin eksportirujiden valdkundoiden organizacii – Veps" lang="vep" hreflang="vep" data-title="Kivivoin eksportirujiden valdkundoiden organizacii" data-language-autonym="Vepsän kel’" data-language-local-name="Veps" class="interlanguage-link-target">Vepsän kel’</a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a href="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" data-title="Tổ chức các nước xuất khẩu dầu lửa" data-language-autonym="Tiếng Việt" data-language-local-name="Vietnamese" class="interlanguage-link-target">Tiếng Việt</a></li><li class="interlanguage-link interwiki-fiu-vro mw-list-item"><a href="https://fiu-vro.wikipedia.org/wiki/OPEC" title="OPEC – Võro" lang="vro" hreflang="vro" data-title="OPEC" data-language-autonym="Võro" data-language-local-name="Võro" class="interlanguage-link-target">Võro</a></li><li class="interlanguage-link interwiki-war mw-list-item"><a href="https://war.wikipedia.org/wiki/OPEC" title="OPEC – Waray" lang="war" hreflang="war" data-title="OPEC" data-language-autonym="Winaray" data-language-local-name="Waray" class="interlanguage-link-target">Winaray</a></li><li class="interlanguage-link interwiki-wuu mw-list-item"><a href="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" lang="wuu" hreflang="wuu" data-title="石油输出国组织" data-language-autonym="吴语" data-language-local-name="Wu" class="interlanguage-link-target">吴语</a></li><li class="interlanguage-link interwiki-yi mw-list-item"><a href="https://yi.wikipedia.org/wiki/%D7%90%D7%A4%D7%A2%D7%A7" title="אפעק – Yiddish" lang="yi" hreflang="yi" data-title="אפעק" data-language-autonym="ייִדיש" data-language-local-name="Yiddish" class="interlanguage-link-target">ייִדיש</a></li><li class="interlanguage-link interwiki-zh-yue mw-list-item"><a href="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" data-title="石油輸出國組織" data-language-autonym="粵語" data-language-local-name="Cantonese" class="interlanguage-link-target">粵語</a></li><li class="interlanguage-link interwiki-diq mw-list-item"><a href="https://diq.wikipedia.org/wiki/OPEC" title="OPEC – Zazaki" lang="diq" hreflang="diq" data-title="OPEC" data-language-autonym="Zazaki" data-language-local-name="Zazaki" class="interlanguage-link-target">Zazaki</a></li><li class="interlanguage-link interwiki-bat-smg mw-list-item"><a href="https://bat-smg.wikipedia.org/wiki/OPEC" title="OPEC – Samogitian" lang="sgs" hreflang="sgs" data-title="OPEC" data-language-autonym="Žemaitėška" data-language-local-name="Samogitian" class="interlanguage-link-target">Žemaitėška</a></li><li class="interlanguage-link interwiki-zh badge-Q17437798 badge-goodarticle mw-list-item" title="good article badge"><a href="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" data-title="石油输出国组织" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target">中文</a></li><li class="interlanguage-link interwiki-btm mw-list-item"><a href="https://btm.wikipedia.org/wiki/OPEC" title="OPEC – Batak Mandailing" lang="btm" hreflang="btm" data-title="OPEC" data-language-autonym="Batak Mandailing" data-language-local-name="Batak Mandailing" class="interlanguage-link-target">Batak Mandailing</a></li> </ul> <div class="after-portlet after-portlet-lang"><a 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dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Intergovernmental oil organization</div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">Not to be confused with <a href="/wiki/Asia-Pacific_Economic_Cooperation" title="Asia-Pacific Economic Cooperation">Asia-Pacific Economic Cooperation</a>.</div> <style data-mw-deduplicate="TemplateStyles:r1257001546">.mw-parser-output .infobox-subbox{padding:0;border:none;margin:-3px;width:auto;min-width:100%;font-size:100%;clear:none;float:none;background-color:transparent}.mw-parser-output .infobox-3cols-child{margin:auto}.mw-parser-output .infobox .navbar{font-size:100%}@media screen{html.skin-theme-clientpref-night .mw-parser-output .infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><style data-mw-deduplicate="TemplateStyles:r1043282317">.mw-parser-output .ib-country{border-collapse:collapse;line-height:1.2em}.mw-parser-output .ib-country td,.mw-parser-output .ib-country th{border-top:1px solid #a2a9b1;padding:0.4em 0.6em 0.4em 0.6em}.mw-parser-output .ib-country .mergedtoprow .infobox-header,.mw-parser-output .ib-country .mergedtoprow .infobox-label,.mw-parser-output .ib-country .mergedtoprow .infobox-data,.mw-parser-output .ib-country .mergedtoprow .infobox-full-data,.mw-parser-output .ib-country .mergedtoprow .infobox-below{border-top:1px solid #a2a9b1;padding:0.4em 0.6em 0.2em 0.6em}.mw-parser-output .ib-country .mergedrow .infobox-label,.mw-parser-output .ib-country .mergedrow .infobox-data,.mw-parser-output .ib-country .mergedrow .infobox-full-data{border:0;padding:0 0.6em 0.2em 0.6em}.mw-parser-output .ib-country .mergedbottomrow .infobox-label,.mw-parser-output .ib-country .mergedbottomrow .infobox-data,.mw-parser-output .ib-country .mergedbottomrow .infobox-full-data{border-top:0;border-bottom:1px solid #a2a9b1;padding:0 0.6em 0.4em 0.6em}.mw-parser-output .ib-country .infobox-header{text-align:left}.mw-parser-output .ib-country .infobox-above{font-size:125%;line-height:1.2}.mw-parser-output .ib-country-names{padding-top:0.25em;font-weight:normal}.mw-parser-output .ib-country-name-style{display:inline}.mw-parser-output .ib-country .infobox-image{padding:0.5em 0}.mw-parser-output .ib-country-anthem{border-top:1px solid #a2a9b1;padding-top:0.5em;margin-top:0.5em}.mw-parser-output .ib-country-map-caption{position:relative;top:0.3em}.mw-parser-output .ib-country-largest,.mw-parser-output .ib-country-lang{font-weight:normal}.mw-parser-output .ib-country-ethnic,.mw-parser-output .ib-country-religion,.mw-parser-output .ib-country-sovereignty{font-weight:normal;display:inline}.mw-parser-output .ib-country-fake-li{text-indent:-0.9em;margin-left:1.2em;font-weight:normal}.mw-parser-output .ib-country-fake-li2{text-indent:0.5em;margin-left:1em;font-weight:normal}.mw-parser-output .ib-country-website{line-height:11pt}.mw-parser-output .ib-country-map-caption3{position:relative;top:0.3em}.mw-parser-output .ib-country-fn{text-align:left;margin:0 auto}.mw-parser-output .ib-country-fn-alpha{list-style-type:lower-alpha;margin-left:1em}.mw-parser-output .ib-country-fn-num{margin-left:1em}</style><table class="infobox ib-country vcard"><tbody><tr><th colspan="2" class="infobox-above adr"><div class="fn org country-name">Organization of the Petroleum Exporting Countries</div></th></tr><tr><td colspan="2" class="infobox-image"><div class="noresize" style="display:table; width:100%;"> <div style="display:table-cell; vertical-align:middle; padding-left:5px;"> <div style="padding-bottom:3px;"><a href="/wiki/File:Flag_of_OPEC.svg" class="mw-file-description" title="Flag of OPEC"><img alt="Flag of OPEC" src="//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="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d1/Flag_of_OPEC.svg/188px-Flag_of_OPEC.svg.png 1.5x, //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>Flag</div> </div> <div style="display:table-cell; vertical-align:middle; padding: 0px 5px;"> <div style="padding-bottom:3px;"><a href="/wiki/File:Organization_of_the_Petroleum_Exporting_Countries_Logo.svg" class="mw-file-description" title="Emblem of OPEC"><img alt="Emblem of OPEC" src="//upload.wikimedia.org/wikipedia/en/thumb/1/1f/Organization_of_the_Petroleum_Exporting_Countries_Logo.svg/85px-Organization_of_the_Petroleum_Exporting_Countries_Logo.svg.png" decoding="async" width="85" height="81" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/1/1f/Organization_of_the_Petroleum_Exporting_Countries_Logo.svg/128px-Organization_of_the_Petroleum_Exporting_Countries_Logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/1/1f/Organization_of_the_Petroleum_Exporting_Countries_Logo.svg/170px-Organization_of_the_Petroleum_Exporting_Countries_Logo.svg.png 2x" data-file-width="300" data-file-height="285" /></a></div> <div>Emblem</div> </div> </div></td></tr><tr><td colspan="2" class="infobox-full-data"><a href="/wiki/File:OPEC_and_OPEC%2B.png" class="mw-file-description" title="OPEC and OPEC+ members"><img alt="OPEC and OPEC+ members" src="//upload.wikimedia.org/wikipedia/commons/thumb/6/6f/OPEC_and_OPEC%2B.png/250px-OPEC_and_OPEC%2B.png" decoding="async" width="250" height="126" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/6/6f/OPEC_and_OPEC%2B.png/375px-OPEC_and_OPEC%2B.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/6/6f/OPEC_and_OPEC%2B.png/500px-OPEC_and_OPEC%2B.png 2x" data-file-width="6400" data-file-height="3224" /></a><div class="ib-country-map-caption">OPEC and OPEC+ members</div></td></tr><tr><th scope="row" class="infobox-label">Headquarters</th><td class="infobox-data"><a href="/wiki/Vienna" title="Vienna">Vienna</a>, Austria</td></tr><tr class="mergedtoprow"><th scope="row" class="infobox-label">Official languages</th><td class="infobox-data">English</td></tr><tr><th scope="row" class="infobox-label">Type</th><td class="infobox-data">Organization<a href="#cite_note-:3-1">[1]</a><a href="#cite_note-:7-2">[2]</a></td></tr><tr><th scope="row" class="infobox-label">Membership</th><td class="infobox-data"><a class="mw-selflink-fragment" href="#Membership">12 OPEC members 10 OPEC+ members 6 observer states</a></td></tr><tr><th colspan="2" class="infobox-header">Leaders</th></tr><tr class="mergedrow"><td colspan="2" class="infobox-full-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"></td></tr><tr class="mergedrow"><th scope="row" class="infobox-label"><div style="text-indent:-0.9em;margin-left:1.2em;font-weight:normal;">• <a href="/wiki/List_of_Secretaries_General_of_OPEC" class="mw-redirect" title="List of Secretaries General of OPEC">Secretary General</a> </div></th><td class="infobox-data"><a href="/wiki/Haitham_al-Ghais" title="Haitham al-Ghais">Haitham al-Ghais</a></td></tr><tr style="display:none"><td colspan="2"> </td></tr><tr><th scope="row" class="infobox-label">Establishment</th><td class="infobox-data"><a href="/wiki/Baghdad" title="Baghdad">Baghdad</a>, Iraq</td></tr><tr class="mergedrow"><td colspan="2" class="infobox-full-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"></td></tr><tr class="mergedrow"><th scope="row" class="infobox-label"><div style="text-indent:-0.9em;margin-left:1.2em;font-weight:normal;">• Statute </div></th><td class="infobox-data">September 1960 (64 years ago) (September 1960)</td></tr><tr class="mergedrow"><th scope="row" class="infobox-label"><div style="text-indent:-0.9em;margin-left:1.2em;font-weight:normal;">• In effect </div></th><td class="infobox-data">January 1961 (63 years ago) (January 1961)</td></tr><tr style="display:none"><td colspan="2"> </td></tr><tr><td colspan="2" class="infobox-full-data"><div class="ib-country-website">Website <a rel="nofollow" class="external text" href="https://www.opec.org/opec_web/en">opec.org</a></div></td></tr></tbody></table> The Organization of the Petroleum Exporting Countries (OPEC, <a href="/wiki/Help:IPA/English" title="Help:IPA/English">/ˈoʊpɛk/</a> <a href="/wiki/Help:Pronunciation_respelling_key" title="Help:Pronunciation respelling key">OH-pek</a>) is a <a href="/wiki/Cartel" title="Cartel">cartel</a> enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize <a href="/wiki/Profit_(economics)" title="Profit (economics)">profit</a>. It was founded on 14 September 1960, in <a href="/wiki/Baghdad" title="Baghdad">Baghdad</a> by the first five members which are <a href="/wiki/Iran" title="Iran">Iran</a>, <a href="/wiki/Iraq" title="Iraq">Iraq</a>, <a href="/wiki/Kuwait" title="Kuwait">Kuwait</a>, <a href="/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a>, and <a href="/wiki/Venezuela" title="Venezuela">Venezuela</a>. The organization, which currently comprises 12 member countries, accounted for an estimated 30 percent of <a href="/wiki/List_of_countries_by_oil_production" title="List of countries by oil production">global oil production</a>.<a href="#cite_note-3">[3]</a> A 2022 report further details that OPEC member countries were responsible for approximately 38 percent of it.<a href="#cite_note-:4-4">[4]</a> Additionally, it is estimated that 79.5 percent of the world's proven oil reserves are located within OPEC nations, with the <a href="/wiki/Middle_East" title="Middle East">Middle East</a> alone accounting for 67.2 percent of OPEC's total reserves.<a href="#cite_note-:5-5">[5]</a><a href="#cite_note-:6-6">[6]</a> In a series of steps in the 1960s and 1970s, OPEC restructured the global system of oil production in favor of oil-producing states and away from an <a href="/wiki/Oligopoly" title="Oligopoly">oligopoly</a> of dominant Anglo-American oil firms (the "<a href="/wiki/Seven_Sisters_(oil_companies)" class="mw-redirect" title="Seven Sisters (oil companies)">Seven Sisters</a>").<a href="#cite_note-FOOTNOTEColgan2021The_Rise_of_OPEC,_pp._59–93-7">[7]</a> In the 1970s, <a href="/wiki/1970s_energy_crisis" title="1970s energy crisis">restrictions in oil production</a> led to a dramatic rise in oil prices with long-lasting and far-reaching consequences for the global economy. Since the 1980s, OPEC has had a limited impact on world oil-supply and oil-price stability, as there is frequent cheating by members on their commitments to one another, and as member commitments reflect what they would do even in the absence of OPEC.<a href="#cite_note-:1-8">[8]</a> However, since 2020, OPEC countries along with non-OPEC participants had helped in stabilising oil markets after the COVID-19 pandemic resulted in a collapse in oil demand. This has allowed oil markets to remain stable relative to other energy markets that experienced unprecedented volatility.<a href="#cite_note-9">[9]</a> The formation of OPEC marked a turning point toward <a href="/wiki/Nationalization_of_oil_supplies" title="Nationalization of oil supplies">national sovereignty over natural resources</a>. OPEC decisions have come to play a prominent role in the global oil-market and in <a href="/wiki/Petroleum_politics" title="Petroleum politics">international relations</a>. Economists have characterized OPEC as a textbook example of a <a href="/wiki/Cartel" title="Cartel">cartel</a><a href="#cite_note-10">[10]</a> (a group whose members cooperate to reduce <a href="/wiki/Competition_(economics)" title="Competition (economics)">market competition</a>) but one whose consultations may be protected by the doctrine of <a href="/wiki/State_immunity" title="State immunity">state immunity</a> under international law.<a href="#cite_note-11">[11]</a> Current OPEC members are<a rel="nofollow" class="external text" href="http://www.opec.org/opec_web/en/about_us/25.htm">[ref]</a> Algeria, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, the Republic of the Congo, Saudi Arabia, the United Arab Emirates and Venezuela. Meanwhile, Angola, Ecuador, Indonesia, and Qatar are former OPEC members.<a href="#cite_note-12">[12]</a> A larger group called OPEC+, consisting of OPEC members plus other oil-producing countries, formed in late 2016 to exert more control on the global crude-oil market.<a href="#cite_note-ope2-13">[13]</a> Canada, Egypt, Norway, and Oman are observer states. <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Organization_and_structure">Organization and structure</h2>[<a href="/w/index.php?title=OPEC&action=edit&section=1" title="Edit section: Organization and structure">edit</a>]</div> In a series of steps in the 1960s and 1970s, OPEC restructured the global system of oil production in favor of oil-producing states and away from an oligopoly of dominant Anglo-American oil firms (the Seven Sisters). Coordination among oil-producing states within OPEC made it easier for them to nationalize oil production and structure oil prices in their favor without incurring punishment by Western governments and firms. Prior to the creation of OPEC, individual oil-producing states were punished for taking steps to alter the governing arrangements of oil production within their borders. States were coerced militarily (e.g. in 1953, the US-UK-sponsored a <a href="/wiki/1953_Iranian_coup_d%27%C3%A9tat" title="1953 Iranian coup d'état">coup against Mohammad Mosaddegh</a> after he nationalized Iran's oil production) or economically (e.g. the Seven Sisters slowed down oil production in one non-compliant state and ramped up oil production elsewhere) when acted contrary to the interests of the Seven Sisters and their governments.<a href="#cite_note-FOOTNOTEColgan2021The_Rise_of_OPEC,_pp._59–93-7">[7]</a> The organisational logic that underpins OPEC is that it is in the collective interest of its members to limit the world oil supply in order to reap higher prices.<a href="#cite_note-:1-8">[8]</a> However, the main problem within OPEC is that it is individually rational for members to cheat on commitments and produce as much oil as possible.<a href="#cite_note-:1-8">[8]</a> Political scientist Jeff Colgan has argued that OPEC has since the 1980s largely failed to achieve its goals (limits on world oil supply, stabilized prices, and raising of long-term average revenues).<a href="#cite_note-:1-8">[8]</a> He finds that members have cheated on 96% of their commitments.<a href="#cite_note-:1-8">[8]</a> The analysis spans over the period 1982–2009.<a href="#cite_note-FOOTNOTEColgan2021107–109-14">[14]</a> To the extent that when member states comply with their commitments, it is because the commitments reflect what they would do even if OPEC did not exist. One large reason for the frequent cheating is that OPEC does not punish members for non-compliance with commitments.<a href="#cite_note-:1-8">[8]</a> In June 2020, all countries participating in the OPEC+ framework collectively agreed to the introduction of a Compensation Mechanism aimed at ensuring full conformity with and adherence to the agreed-upon oil production cuts. This initiative aligns with one of OPEC's stated objectives: to maintain a stable oil market, which, notably, has been relatively more stable than other energy commodities.<a href="#cite_note-15">[15]</a><a href="#cite_note-16">[16]</a> <div class="mw-heading mw-heading3"><h3 id="Leadership_and_decision-making">Leadership and decision-making</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=2" title="Edit section: Leadership and decision-making">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/List_of_secretaries_general_of_OPEC" title="List of secretaries general of OPEC">List of secretaries general of OPEC</a></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_(5251965558).jpg" class="mw-file-description"><img alt="refer to caption" src="//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="mw-file-element" srcset="//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, //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><figcaption>OPEC Conference delegates at <a href="/wiki/Swissotel" class="mw-redirect" title="Swissotel">Swissotel</a>, <a href="/wiki/Quito" title="Quito">Quito</a>, <a href="/wiki/Ecuador" title="Ecuador">Ecuador</a>, December 2010</figcaption></figure> The OPEC Conference is the supreme authority of the organisation, and consists of delegations normally headed by the oil ministers of member countries. The chief executive of the organisation is the <a href="/wiki/List_of_Secretaries_General_of_OPEC" class="mw-redirect" 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-17">[17]</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="/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-FT2015-18">[18]</a> <div class="mw-heading mw-heading3"><h3 id="International_cartel">International cartel</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=3" title="Edit section: International cartel">edit</a>]</div> At various times, OPEC members have displayed apparent anti-competitive <a href="/wiki/Cartel" title="Cartel">cartel</a> behavior through the organisation's agreements about oil production and price levels.<a href="#cite_note-19">[19]</a> Economists often cite OPEC as a textbook example of a cartel that cooperates to reduce market competition, as in this definition from <a href="/wiki/OECD" title="OECD">OECD</a>'s Glossary of Industrial Organisation Economics and Competition Law:<a href="#cite_note-cartel-20">[20]</a> <style data-mw-deduplicate="TemplateStyles:r1244412712">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 32px}.mw-parser-output .templatequotecite{line-height:1.5em;text-align:left;margin-top:0}@media(min-width:500px){.mw-parser-output .templatequotecite{padding-left:1.6em}}</style><blockquote class="templatequote">International commodity agreements covering products such as coffee, sugar, tin and more recently oil (OPEC: Organisation of Petroleum Exporting Countries) are examples of international cartels which have publicly entailed agreements between different national governments.</blockquote>While OPEC is at times cited as a textbook example of a cartel, various authoritative and academic sources provide a broader perspective on the organization's role. For instance, the <a href="/wiki/US_Energy_Information_Administration" class="mw-redirect" title="US Energy Information Administration">US Energy Information Administration</a>'s<a href="#cite_note-21">[21]</a> glossary explains OPEC as:<a href="#cite_note-:3-1">[1]</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote">An intergovernmental organization whose stated objective is to 'coordinate and unify the petroleum policies of member countries'.</blockquote> The Oxford Dictionary of Energy Science (2017)<a href="#cite_note-22">[22]</a> defines OPEC as:<a href="#cite_note-:7-2">[2]</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote">An organization set up in 1960 to coordinate petroleum policies among its member countries, initially with the aim of securing a regular supply to consuming countries at a price that gave a fair return on capital investment.</blockquote> OPEC members strongly prefer to describe their organisation as a modest force for market stabilisation, rather than a powerful anti-competitive cartel. In its defense, the organisation was founded as a counterweight against the previous "<a href="/wiki/Seven_Sisters_(oil_companies)" class="mw-redirect" 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-23">[23]</a> Moreover, because of an economic "<a href="/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-24">[24]</a> widespread cheating within OPEC often erodes its ability to influence global oil prices through <a href="/wiki/Collective_action_problem" title="Collective action problem">collective action</a>.<a href="#cite_note-25">[25]</a><a href="#cite_note-26">[26]</a> Political scientist Jeff Colgan has challenged that OPEC is a cartel, pointing to endemic cheating in the organization: "A cartel needs to set tough goals and meet them; OPEC sets easy goals and fails to meet even those."<a href="#cite_note-:1-8">[8]</a> OPEC has not been involved in any disputes related to the competition rules of the <a href="/wiki/World_Trade_Organization" title="World Trade Organization">World Trade Organization</a>, even though the objectives, actions, and principles of the two organisations diverge considerably.<a href="#cite_note-27">[27]</a> A key US District Court decision held that OPEC consultations are protected as "governmental" acts of state by the <a href="/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="/wiki/Competition_law" title="Competition law">competition law</a> governing "commercial" acts.<a href="#cite_note-28">[28]</a> Despite popular sentiment against OPEC, legislative proposals to limit the organisation's sovereign immunity, such as the <a href="/wiki/NOPEC" class="mw-redirect" title="NOPEC">NOPEC</a> Act, have so far been unsuccessful.<a href="#cite_note-29">[29]</a> <div class="mw-heading mw-heading3"><h3 id="Conflicts">Conflicts</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=4" title="Edit section: Conflicts">edit</a>]</div> 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-30">[30]</a><a href="#cite_note-discordant-31">[31]</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="/wiki/Resource_curse#Effects" title="Resource curse">natural resource curse</a>".<a href="#cite_note-32">[32]</a><a href="#cite_note-33">[33]</a> A further complication is that <a href="/wiki/Religious_war" title="Religious war">religion-linked</a> <a href="/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-34">[34]</a><a href="#cite_note-35">[35]</a> Internationally important conflicts in OPEC's history have included the <a href="/wiki/Six-Day_War" title="Six-Day War">Six-Day War</a> (1967), <a href="/wiki/Yom_Kippur_War" title="Yom Kippur War">Yom Kippur War</a> (1973), a <a href="/wiki/OPEC_siege" title="OPEC siege">hostage siege directed by Palestinian militants</a> (1975), the <a href="/wiki/Iranian_Revolution" class="mw-redirect" title="Iranian Revolution">Iranian Revolution</a> (1979), <a href="/wiki/Iran%E2%80%93Iraq_War" title="Iran–Iraq War">Iran–Iraq War</a> (1980–1988), <a href="/wiki/Gulf_War" title="Gulf War">Iraqi occupation of Kuwait</a> (1990–1991), <a href="/wiki/September_11_attacks" title="September 11 attacks">September 11 attacks</a> (2001), <a href="/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="/wiki/Conflict_in_the_Niger_Delta" title="Conflict in the Niger Delta">Conflict in the Niger Delta</a> (2004–present), <a href="/wiki/Arab_Spring" title="Arab Spring">Arab Spring</a> (2010–2012), <a href="/wiki/Libyan_Crisis" class="mw-redirect" title="Libyan Crisis">Libyan Crisis</a> (2011–present), and international <a href="/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-36">[36]</a> <div class="mw-heading mw-heading2"><h2 id="History_and_impact">History and impact</h2>[<a href="/w/index.php?title=OPEC&action=edit&section=5" title="Edit section: History and impact">edit</a>]</div> <div class="mw-heading mw-heading3"><h3 id="Post-WWII_situation">Post-WWII situation</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=6" title="Edit section: Post-WWII situation">edit</a>]</div> In 1949, <a href="/wiki/United_States_of_Venezuela" title="United States of Venezuela">Venezuela</a> initiated the move towards the establishment of what would become OPEC, by inviting Iran, Iraq, Kuwait and Saudi Arabia to exchange views and explore avenues for more regular and closer communication among petroleum-exporting nations as the world recovered from <a href="/wiki/World_War_II" title="World War II">World War II</a>.<a href="#cite_note-open-37">[37]</a> At the time, some of the world's largest <a href="/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="/wiki/Interstate_Oil_Compact_Commission" class="mw-redirect" title="Interstate Oil Compact Commission">Interstate Oil Compact Commission</a> to join the <a href="/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; the world market was dominated by a group of <a href="/wiki/Multinational_companies" class="mw-redirect" title="Multinational companies">multinational companies</a> known as the "<a href="/wiki/Seven_Sisters_(oil_companies)" class="mw-redirect" title="Seven Sisters (oil companies)">Seven Sisters</a>", five of which were headquartered in the US following the breakup of <a href="/wiki/John_D._Rockefeller" title="John D. Rockefeller">John D. Rockefeller</a>'s original <a href="/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="/wiki/Economic_power" title="Economic power">economic power</a>.<a href="#cite_note-prize-38">[38]</a> <div class="mw-heading mw-heading3"><h3 id="1959–1960:_Anger_from_exporting_countries">1959–1960: Anger from exporting countries</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=7" title="Edit section: 1959–1960: Anger from exporting countries">edit</a>]</div> 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="/wiki/Arab_League" title="Arab League">Arab League</a>'s first <a href="/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="/wiki/Wanda_Jablonski" title="Wanda Jablonski">Wanda Jablonski</a> introduced Saudi Arabia's <a href="/wiki/Abdullah_Tariki" title="Abdullah Tariki">Abdullah Tariki</a> to Venezuela's observer <a href="/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 <a href="/wiki/Gentlemen%27s_agreement" title="Gentlemen's agreement">Gentlemen's Agreement</a>, 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="/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-37">[37]</a><a href="#cite_note-prize-38">[38]</a><a href="#cite_note-39">[39]</a><a href="#cite_note-40">[40]</a> <div class="mw-heading mw-heading3"><h3 id="1960–1975:_Founding_and_expansion">1960–1975: Founding and expansion</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=8" title="Edit section: 1960–1975: Founding and expansion">edit</a>]</div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Wien_-_OPEC-Zentrale_(b).JPG" class="mw-file-description"><img alt="refer to caption" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/42/Wien_-_OPEC-Zentrale_%28b%29.JPG/220px-Wien_-_OPEC-Zentrale_%28b%29.JPG" decoding="async" width="220" height="242" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/42/Wien_-_OPEC-Zentrale_%28b%29.JPG/330px-Wien_-_OPEC-Zentrale_%28b%29.JPG 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/42/Wien_-_OPEC-Zentrale_%28b%29.JPG/440px-Wien_-_OPEC-Zentrale_%28b%29.JPG 2x" data-file-width="3626" data-file-height="3985" /></a><figcaption>OPEC headquarters in Vienna (2009 building)</figcaption></figure> 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="/wiki/Abd_al-Karim_Qasim" class="mw-redirect" title="Abd al-Karim Qasim">Abd al-Karim Qasim</a>, whose country had skipped the 1959 congress.<a href="#cite_note-:0-41">[41]</a> Government representatives from Iran, Iraq, Kuwait, Saudi Arabia and Venezuela met in <a href="/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-42">[42]</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="/wiki/Geneva" title="Geneva">Geneva</a>, Switzerland. On 1 September 1965, OPEC moved to <a href="/wiki/Vienna" title="Vienna">Vienna</a>, Austria, after Switzerland declined to extend <a href="/wiki/Diplomatic_privileges" class="mw-redirect" title="Diplomatic privileges">diplomatic privileges</a>.<a href="#cite_note-43">[43]</a> At the time, Switzerland was attempting to reduce their foreign population and the OPEC was the first intergovernmental body to leave the country because of restrictions on foreigners.<a href="#cite_note-44">[44]</a> Austria was keen to attract international organizations and offered attractive terms to the OPEC.<a href="#cite_note-45">[45]</a> During the early years of OPEC, the oil-producing countries had a 50/50 profit agreement with the oil companies.<a href="#cite_note-FOOTNOTEColgan2021The_Rise_of_OPEC,_pp._73–78-46">[46]</a> OPEC bargained with the dominant oil companies (the Seven Sisters), but OPEC faced coordination problems among its members.<a href="#cite_note-FOOTNOTEColgan2021The_Rise_of_OPEC,_pp._73–78-46">[46]</a> If one OPEC member demanded too much from the oil companies, then the oil companies could slow down production in that country and ramp up production elsewhere.<a href="#cite_note-FOOTNOTEColgan2021The_Rise_of_OPEC,_pp._73–78-46">[46]</a> The 50/50 agreements were still in place until 1970 when Libya negotiated a 58/42 agreement with the oil company <a href="/wiki/Occidental_Petroleum" title="Occidental Petroleum">Occidental</a>, which prompted other OPEC members to request better agreements with oil companies.<a href="#cite_note-FOOTNOTEColgan2021The_Rise_of_OPEC,_pp._73–78-46">[46]</a>> In 1971, an accord was signed between major oil companies and members of OPEC doing business in the <a href="/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-47">[47]</a> During 1961–1975, the five founding nations were joined by <a href="/wiki/Qatar" title="Qatar">Qatar</a> (1961), <a href="/wiki/Indonesia" title="Indonesia">Indonesia</a> (1962–2008, rejoined 2014–2016), <a href="/wiki/Libya" title="Libya">Libya</a> (1962), <a href="/wiki/United_Arab_Emirates" title="United Arab Emirates">United Arab Emirates</a> (originally just the <a href="/wiki/Emirate_of_Abu_Dhabi" title="Emirate of Abu Dhabi">Emirate of Abu Dhabi</a>, 1967), <a href="/wiki/Algeria" title="Algeria">Algeria</a> (1969), <a href="/wiki/Nigeria" title="Nigeria">Nigeria</a> (1971), <a href="/wiki/Ecuador" title="Ecuador">Ecuador</a> (1973–1992, 2007–2020), and <a href="/wiki/Gabon" title="Gabon">Gabon</a> (1975–1994, rejoined 2016).<a href="#cite_note-OPEC_Member-48">[48]</a> By the early 1970s, OPEC's membership accounted for more than half of worldwide oil production.<a href="#cite_note-MarketShare-49">[49]</a> Indicating that OPEC is not averse to further expansion, <a href="/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-50">[50]</a> and <a href="/wiki/Angola" title="Angola">Angola</a> did in 2007, followed by <a href="/wiki/Equatorial_Guinea" title="Equatorial Guinea">Equatorial Guinea</a> in 2017.<a href="#cite_note-May2017Vienna-51">[51]</a> Since the 1980s, representatives from Canada, 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-52">[52]</a> <div class="mw-heading mw-heading3"><h3 id="1973–1974:_Oil_embargo">1973–1974: Oil embargo</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=9" title="Edit section: 1973–1974: Oil embargo">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/1973_oil_crisis" title="1973 oil crisis">1973 oil crisis</a></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/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="mw-file-description"><img alt="refer to caption" src="//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="mw-file-element" srcset="//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, //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><figcaption>An undersupplied US gasoline station, closed during the oil embargo in 1973</figcaption></figure> The oil market was tight in the early 1970s, which reduced the risks for OPEC members in nationalising their oil production. One of the major fears for OPEC members was that nationalisation would cause a steep decline in the price of oil. This prompted a wave of nationalisations in countries such as Libya, Algeria, Iraq, Nigeria, Saudi Arabia and Venezuela. With greater control over oil production decisions and amid high oil prices, OPEC members unilaterally raised oil prices in 1973, prompting the 1973 oil crisis.<a href="#cite_note-FOOTNOTEColgan2021The_Rise_of_OPEC,_pp._79–85-53">[53]</a> In October 1973, the <a href="/wiki/Organization_of_Arab_Petroleum_Exporting_Countries" title="Organization of Arab Petroleum Exporting Countries">Organisation 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="/wiki/Embargo" class="mw-redirect" title="Embargo">embargo</a> against the United States and other industrialized nations that supported Israel in the <a href="/wiki/Yom_Kippur_War" title="Yom Kippur War">Yom Kippur War</a>.<a href="#cite_note-54">[54]</a><a href="#cite_note-Maugeri2006-55">[55]</a> A <a href="/wiki/1967_Oil_Embargo" title="1967 Oil Embargo">previous embargo attempt</a> was largely ineffective in response to the <a href="/wiki/Six-Day_War" title="Six-Day War">Six-Day War</a> in 1967.<a href="#cite_note-56">[56]</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="/wiki/Rationing" title="Rationing">rationing</a>, intensified by panic reactions, a declining trend in US oil production, currency devaluations,<a href="#cite_note-Maugeri2006-55">[55]</a> and a lengthy UK coal-miners dispute. For a time, the UK imposed an emergency <a href="/wiki/Three-Day_Week" title="Three-Day Week">three-day workweek</a>.<a href="#cite_note-57">[57]</a> Seven European nations banned non-essential Sunday driving.<a href="#cite_note-58">[58]</a> US gas stations limited the amount of petrol that could be dispensed, closed on Sundays, and restricted the days when petrol could be purchased, based on number plate numbers.<a href="#cite_note-59">[59]</a><a href="#cite_note-60">[60]</a> Even after the embargo ended in March 1974, following intense diplomatic activity, prices continued to rise. The world experienced a <a href="/wiki/1973%E2%80%931975_recession" title="1973–1975 recession">global economic recession</a>, with <a href="/wiki/Stagflation" title="Stagflation">unemployment and inflation surging simultaneously</a>, steep declines in stock and bond prices, major shifts in <a href="/wiki/Trade_balance" class="mw-redirect" title="Trade balance">trade balances</a> and <a href="/wiki/Petrodollar_recycling" title="Petrodollar recycling">petrodollar flows</a>, and a dramatic end to the <a href="/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-61">[61]</a><a href="#cite_note-62">[62]</a> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/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="mw-file-description"><img alt="refer to caption" src="//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="mw-file-element" srcset="//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, //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><figcaption>A woman uses wood in a fireplace for heat. A newspaper headline in the foreground shows a story regarding a lack of heating oil in the community.</figcaption></figure> The 1973–1974 oil embargo had lasting effects on the United States and other industrialized nations, which established the <a href="/wiki/International_Energy_Agency" title="International Energy Agency">International Energy Agency</a> in response, as well as national <a href="/wiki/Global_strategic_petroleum_reserves" title="Global strategic petroleum reserves">emergency stockpiles</a> designed to withstand months of future supply disruptions. Oil <a href="/wiki/Energy_conservation" title="Energy conservation">conservation</a> efforts included lower speed limits on highways, smaller and more <a href="/wiki/Efficient_energy_use" title="Efficient energy use">energy-efficient</a> cars and appliances, year-round <a href="/wiki/Daylight_saving_time" title="Daylight saving time">daylight saving time</a>, reduced usage of <a href="/wiki/HVAC" class="mw-redirect" title="HVAC">heating and air-conditioning</a>, better <a href="/wiki/Building_insulation" title="Building insulation">building insulation</a>, increased support of <a href="/wiki/Mass_transit" class="mw-redirect" title="Mass transit">mass transit</a>, and greater emphasis on <a href="/wiki/Coal" title="Coal">coal</a>, <a href="/wiki/Natural_gas" title="Natural gas">natural gas</a>, <a href="/wiki/Ethanol_fuel" title="Ethanol fuel">ethanol</a>, <a href="/wiki/Nuclear_power" title="Nuclear power">nuclear</a> and other <a href="/wiki/Alternative_energy" class="mw-redirect" title="Alternative energy">alternative energy</a> sources. These long-term efforts became effective enough that US oil consumption rose only 11 percent during 1980–2014, while <a href="/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-Maugeri2006-55">[55]</a><a href="#cite_note-63">[63]</a><a href="#cite_note-64">[64]</a><a href="#cite_note-65">[65]</a><a href="#cite_note-66">[66]</a> The embargo also meant that a section of the <a href="/wiki/Non-Aligned_Movement" title="Non-Aligned Movement">Non-Aligned Movement</a> saw power as a source of hope for their <a href="/wiki/Developing_countries" class="mw-redirect" title="Developing countries">developing countries</a>. The Algerian president <a href="/wiki/Houari_Boum%C3%A9di%C3%A8ne" title="Houari Boumédiène">Houari Boumédiène</a> expressed this hope in a speech at the UN's sixth Special Session, in April 1974: <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><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-67">[67]</a></blockquote> <div class="mw-heading mw-heading3"><h3 id="1975–1980:_Special_Fund,_now_the_OPEC_Fund_for_International_Development">1975–1980: Special Fund, now the OPEC Fund for International Development</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=10" title="Edit section: 1975–1980: Special Fund, now the OPEC Fund for International Development">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/OPEC_Fund_for_International_Development" title="OPEC Fund for International Development">OPEC Fund for International Development</a></div> OPEC's <a href="/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="/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-68">[68]</a> In the years after 1973, as an example of so-called "<a href="/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-69">[69]</a><a href="#cite_note-70">[70]</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="/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-71">[71]</a> The Fund became an official international development agency in May 1980 and was renamed the <a href="/wiki/OPEC_Fund_for_International_Development" title="OPEC Fund for International Development">OPEC Fund for International Development</a>,<a href="#cite_note-72">[72]</a> with Permanent Observer status at the United Nations.<a href="#cite_note-73">[73]</a> In 2020, the institution ceased using the abbreviation OFID. <div class="mw-heading mw-heading3"><h3 id="1975:_Hostage_siege">1975: Hostage siege</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=11" title="Edit section: 1975: Hostage siege">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/OPEC_siege" title="OPEC siege">OPEC siege</a></div> On 21 December 1975, Saudi Arabia's <a href="/wiki/Ahmed_Zaki_Yamani" title="Ahmed Zaki Yamani">Ahmed Zaki Yamani</a>, Iran's <a href="/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="/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 terrorist "<a href="/wiki/Carlos_the_Jackal" title="Carlos the Jackal">Carlos the Jackal</a>", and which included <a href="/wiki/Gabriele_Kr%C3%B6cher-Tiedemann" title="Gabriele Kröcher-Tiedemann">Gabriele Kröcher-Tiedemann</a> and <a href="/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="/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-74">[74]</a> Carlos arranged bus and plane travel for his team and 42 of the original 63 hostages, with stops in <a href="/wiki/Algiers" title="Algiers">Algiers</a> and <a href="/wiki/Tripoli,_Libya" title="Tripoli, Libya">Tripoli</a>, planning to fly eventually to <a href="/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="/wiki/Houari_Boum%C3%A9dienne" class="mw-redirect" title="Houari Boumédienne">Houari Boumédiène</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-74">[74]</a> Sometime after the attack, Carlos's accomplices revealed that the operation was commanded by <a href="/wiki/Wadie_Haddad" title="Wadie Haddad">Wadie Haddad</a>, a founder of the <a href="/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="/wiki/Muammar_Gaddafi" title="Muammar Gaddafi">Muammar Gaddafi</a> of Libya, itself an OPEC member. Fellow militants <a href="/wiki/Bassam_Abu_Sharif" title="Bassam Abu Sharif">Bassam Abu Sharif</a> and Klein claimed that Carlos received and kept a ransom between 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-74">[74]</a><a href="#cite_note-75">[75]</a> He was finally captured in 1994 and is serving life sentences for at least 16 other murders.<a href="#cite_note-76">[76]</a> <div class="mw-heading mw-heading3"><h3 id="1979–1980:_Oil_crisis_and_1980s_oil_glut">1979–1980: Oil crisis and 1980s oil glut</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=12" title="Edit section: 1979–1980: Oil crisis and 1980s oil glut">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main articles: <a href="/wiki/1979_oil_crisis" title="1979 oil crisis">1979 oil crisis</a> and <a href="/wiki/1980s_oil_glut" title="1980s oil glut">1980s oil glut</a></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Opecrev.gif" class="mw-file-description"><img alt="refer to caption" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Opecrev.gif/220px-Opecrev.gif" decoding="async" width="220" height="171" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Opecrev.gif/330px-Opecrev.gif 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Opecrev.gif/440px-Opecrev.gif 2x" data-file-width="1687" data-file-height="1310" /></a><figcaption>Fluctuations of OPEC net oil export revenues since 1972<a href="#cite_note-77">[77]</a><a href="#cite_note-EIA2015-78">[78]</a></figcaption></figure> In response to a wave of <a href="/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-79">[79]</a><a href="#cite_note-80">[80]</a> when the <a href="/wiki/Iranian_Revolution" class="mw-redirect" title="Iranian Revolution">Iranian Revolution</a> and <a href="/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-81">[81]</a> national governments initiated multibillion-dollar research programs to develop alternatives to oil;<a href="#cite_note-82">[82]</a><a href="#cite_note-83">[83]</a> and commercial exploration developed major non-OPEC oilfields in Siberia, Alaska, the North Sea, and the Gulf of Mexico.<a href="#cite_note-84">[84]</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-85">[85]</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-49">[49]</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-86">[86]</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-49">[49]</a> To combat falling revenue from oil sales, in 1982 Saudi Arabia pressed OPEC for audited national <a href="/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-85">[85]</a><a href="#cite_note-Ali-87">[87]</a>: 127–128, 136–137  These strategic measures by Saudi Arabia to regulate oil prices had profound economic repercussions. As the swing producer in that period, the Kingdom faced significant economic strain. Its revenues dramatically decreased from $119 billion in 1981 to $26 billion by 1985, leading to substantial <a href="/wiki/Deficit_spending" title="Deficit spending">budget deficits</a> and a doubling of its debt, reaching 100% of the Gross Domestic Product.<a href="#cite_note-Ali2-88">[88]</a>: 136–137  Faced with increasing economic hardship (which ultimately contributed to the collapse of the <a href="/wiki/Soviet_bloc" class="mw-redirect" title="Soviet bloc">Soviet bloc</a> in 1989),<a href="#cite_note-89">[89]</a><a href="#cite_note-90">[90]</a> the "<a href="/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-85">[85]</a><a href="#cite_note-Brief_History-91">[91]</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-92">[92]</a> Generally when OPEC production targets are reduced, oil prices increase.<a href="#cite_note-EIA_2014-93">[93]</a> <div class="mw-heading mw-heading3"><h3 id="1990–2003:_Ample_supply_and_modest_disruptions">1990–2003: Ample supply and modest disruptions</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=13" title="Edit section: 1990–2003: Ample supply and modest disruptions">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/1990_oil_price_shock" title="1990 oil price shock">1990 oil price shock</a></div> <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:Kuwait_burn_oilfield.png" class="mw-file-description"><img alt="refer to caption" src="//upload.wikimedia.org/wikipedia/commons/thumb/7/78/Kuwait_burn_oilfield.png/310px-Kuwait_burn_oilfield.png" decoding="async" width="310" height="175" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/78/Kuwait_burn_oilfield.png/465px-Kuwait_burn_oilfield.png 1.5x, //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><figcaption>One of the hundreds of <a href="/wiki/Kuwaiti_oil_fires" title="Kuwaiti oil fires">Kuwaiti oil fires</a> set by retreating Iraqi troops in 1991<a href="#cite_note-94">[94]</a></figcaption></figure> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Brent_crude_oil_price_1988-2015.svg" class="mw-file-description"><img alt="refer to caption" src="//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="mw-file-element" srcset="//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, //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><figcaption>Fluctuations of Brent crude oil price, 1988–2015<a href="#cite_note-Brent-95">[95]</a></figcaption></figure> <div style="clear:both;" class=""></div> Leading up to his August 1990 <a href="/wiki/Invasion_of_Kuwait" class="mw-redirect" title="Invasion of Kuwait">Invasion of Kuwait</a>, Iraqi President <a href="/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="/wiki/Iran%E2%80%93Iraq_War" title="Iran–Iraq War">Iran–Iraq War</a>.<a href="#cite_note-96">[96]</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="/wiki/September_11_attacks" title="September 11 attacks">Al Qaeda attacks on the US</a> and the March 2003 <a href="/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-97">[97]</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-98">[98]</a> although it rejoined in October 2007. Similar concerns prompted Gabon to suspend membership in January 1995;<a href="#cite_note-Gabon-99">[99]</a> it rejoined in July 2016.<a href="#cite_note-OPEC_Member-48">[48]</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-100">[100]</a><a href="#cite_note-101">[101]</a> Lower demand triggered by the 1997–1998 <a href="/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-102">[102]</a> After prices slumped again in Nov. 2001, OPEC, Norway, Mexico, Russia, Oman and Angola agreed to cut production on 1 January 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-87">[87]</a> In June 2003, the <a href="/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-103">[103]</a> <div class="mw-heading mw-heading3"><h3 id="2003–2011:_Volatility">2003–2011: Volatility</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=14" title="Edit section: 2003–2011: Volatility">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/2000s_energy_crisis" title="2000s energy crisis">2000s energy crisis</a></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:OPEC_members%27_net_oil_export_revenues_in_2000_through_2020_(50562182543).png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/7/76/OPEC_members%27_net_oil_export_revenues_in_2000_through_2020_%2850562182543%29.png/260px-OPEC_members%27_net_oil_export_revenues_in_2000_through_2020_%2850562182543%29.png" decoding="async" width="260" height="130" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/76/OPEC_members%27_net_oil_export_revenues_in_2000_through_2020_%2850562182543%29.png/390px-OPEC_members%27_net_oil_export_revenues_in_2000_through_2020_%2850562182543%29.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/76/OPEC_members%27_net_oil_export_revenues_in_2000_through_2020_%2850562182543%29.png/520px-OPEC_members%27_net_oil_export_revenues_in_2000_through_2020_%2850562182543%29.png 2x" data-file-width="1096" data-file-height="546" /></a><figcaption>OPEC members' net oil export revenues, 2000–2020</figcaption></figure> Widespread insurgency and sabotage occurred during the 2003–2008 height of the <a href="/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 China and <a href="/wiki/Commodity_market" title="Commodity market">commodity</a>-hungry investors, recurring <a href="/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="/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-104">[104]</a><a href="#cite_note-105">[105]</a><a href="#cite_note-106">[106]</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="/wiki/Great_Recession" title="Great Recession">worst global recession since World War II</a>.<a href="#cite_note-107">[107]</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="/wiki/Petrodollar_recycling" title="Petrodollar recycling">petrodollar recycling</a> activity) before plunging again.<a href="#cite_note-EIA2015-78">[78]</a> By the time of the <a href="/wiki/2011_Libyan_Civil_War" class="mw-redirect" title="2011 Libyan Civil War">2011 Libyan Civil War</a> and <a href="/wiki/Arab_Spring" title="Arab Spring">Arab Spring</a>, OPEC started issuing explicit statements to counter "excessive speculation" in oil <a href="/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-108">[108]</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-109">[109]</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-110">[110]</a> <div class="mw-heading mw-heading3"><h3 id="2008:_Production_dispute">2008: Production dispute</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=15" title="Edit section: 2008: Production dispute">edit</a>]</div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Oil_Balance.png" class="mw-file-description"><img alt="refer to caption" src="//upload.wikimedia.org/wikipedia/commons/thumb/3/33/Oil_Balance.png/220px-Oil_Balance.png" decoding="async" width="220" height="100" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/33/Oil_Balance.png/330px-Oil_Balance.png 1.5x, //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><figcaption>Countries by net oil exports (2008)</figcaption></figure> 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-owen032010-111">[111]</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-112">[112]</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-113">[113]</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-114">[114]</a> To elucidate Saudi Arabia's contemporary approach, in 2024, Saudi Energy Minister Prince <a href="/wiki/Abdulaziz_bin_Salman" class="mw-redirect" title="Abdulaziz bin Salman">Abdulaziz bin Salman</a> articulated a stance that reflects how the kingdom has adapted to the evolving economic needs within OPEC and the broader international community. Emphasizing the need for a balanced and fair global <a href="/wiki/Energy_transition" title="Energy transition">energy transition</a>, he highlighted the importance of diversifying energy sources and noted significant investments in <a href="/wiki/Natural_gas" title="Natural gas">natural gas</a>, <a href="/wiki/Petrochemical" title="Petrochemical">petrochemicals</a>, and <a href="/wiki/Renewable_energy" title="Renewable energy">renewables</a>. These efforts support economic development in <a href="/wiki/Emerging_market" title="Emerging market">emerging countries</a> and align with global <a href="/wiki/Climate_target" title="Climate target">climate objectives</a>.<a href="#cite_note-115">[115]</a><a href="#cite_note-:11-116">[116]</a> Additionally, he addressed shifting <a href="/wiki/Energy_security" title="Energy security">energy security</a> concerns, stating, "Energy security in the 70s, 80s, and 90s was more dependent on oil. Now, you get what happened last year... It was gas. The future problem on energy security will not be oil. It will be renewables. And the materials, and the mines."<a href="#cite_note-:11-116">[116]</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="/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-31">[31]</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-117">[117]</a> <div class="mw-heading mw-heading3"><h3 id="2014–2017:_Oil_glut">2014–2017: Oil glut</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=16" title="Edit section: 2014–2017: Oil glut">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/2010s_oil_glut" title="2010s oil glut">2010s oil glut</a></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Countries_by_Oil_Production_in_2013.svg" class="mw-file-description"><img alt="refer to caption" src="//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="mw-file-element" srcset="//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, //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><figcaption>Countries by oil production (2013)</figcaption></figure> <div class="thumb tleft" style=""><div class="thumbinner" style="width:-moz-fit-content; width:fit-content;"><div class="thumbimage noresize" style="width:auto;"> <style data-mw-deduplicate="TemplateStyles:r1251242444">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+link+.ambox{margin-top:-1px}html body.mediawiki .mw-parser-output .ambox.mbox-small-left{margin:4px 1em 4px 0;overflow:hidden;width:238px;border-collapse:collapse;font-size:88%;line-height:1.25em}.mw-parser-output .ambox-speedy{border-left:10px solid #b32424;background-color:#fee7e6}.mw-parser-output .ambox-delete{border-left:10px solid #b32424}.mw-parser-output .ambox-content{border-left:10px solid #f28500}.mw-parser-output .ambox-style{border-left:10px solid #fc3}.mw-parser-output .ambox-move{border-left:10px solid #9932cc}.mw-parser-output .ambox-protection{border-left:10px solid #a2a9b1}.mw-parser-output .ambox .mbox-text{border:none;padding:0.25em 0.5em;width:100%}.mw-parser-output .ambox .mbox-image{border:none;padding:2px 0 2px 0.5em;text-align:center}.mw-parser-output .ambox .mbox-imageright{border:none;padding:2px 0.5em 2px 0;text-align:center}.mw-parser-output .ambox .mbox-empty-cell{border:none;padding:0;width:1px}.mw-parser-output .ambox .mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><table class="box-Notice plainlinks metadata ambox ambox-notice" role="presentation" style="width:100%;margin:0;"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/1/1d/Information_icon4.svg/40px-Information_icon4.svg.png" decoding="async" width="40" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/1/1d/Information_icon4.svg/60px-Information_icon4.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/1/1d/Information_icon4.svg/80px-Information_icon4.svg.png 2x" data-file-width="620" data-file-height="620" /></div></td><td class="mbox-text" style="text-align: left;"><div class="mbox-text-span">Graphs are unavailable due to technical issues. There is more info on <a href="https://phabricator.wikimedia.org/T334940" class="extiw" title="phab:T334940">Phabricator</a> and on <a href="https://www.mediawiki.org/wiki/Extension:Graph/Plans" class="extiw" title="mw:Extension:Graph/Plans">MediaWiki.org</a>.</div></td></tr></tbody></table></div><div class="thumbcaption">Top oil-producing countries,<a href="#cite_note-118">[118]</a> thousand barrels per day, 1973–2016</div></div></div><div style="clear:both;" class=""></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Dammam_No._7_on_March_4,_1938.jpg" class="mw-file-description"><img alt="refer to caption" src="//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="mw-file-element" srcset="//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, //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><figcaption>Gusher well in Saudi Arabia: conventional source of OPEC production</figcaption></figure> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Frac_job_in_process.JPG" class="mw-file-description"><img alt="refer to caption" src="//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="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/90/Frac_job_in_process.JPG/330px-Frac_job_in_process.JPG 1.5x, //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><figcaption>Shale "fracking" in the US: important new challenge to OPEC market share</figcaption></figure> 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="/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="/wiki/Tight_oil" title="Tight oil">shale</a> "<a href="/wiki/Fracking" 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="/wiki/U.S._energy_independence" class="mw-redirect" title="U.S. energy independence">energy independence</a>), a record volume of worldwide oil inventories, and a collapse in oil prices that continued into early 2016.<a href="#cite_note-basketprice-117">[117]</a><a href="#cite_note-119">[119]</a><a href="#cite_note-glut-120">[120]</a> In spite of global oversupply, on 27 November 2014 in Vienna, Saudi oil minister <a href="/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-121">[121]</a> As he explained in an interview:<a href="#cite_note-MEES-30">[30]</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="/wiki/Libyan_Civil_War_(2014%E2%80%93present)" class="mw-redirect" 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 $40, 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="/wiki/Sanctions_against_Iran" class="mw-redirect" title="Sanctions against Iran">international sanctions</a>, hundreds of world leaders at the <a href="/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="/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-FT2015-18">[18]</a><a href="#cite_note-glut-120">[120]</a><a href="#cite_note-122">[122]</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-117">[117]</a> As 2016 continued, the oil glut was partially trimmed with significant production offline in the United States, 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-June2016-123">[123]</a><a href="#cite_note-124">[124]</a><a href="#cite_note-125">[125]</a> <div class="mw-heading mw-heading3"><h3 id="2017–2020:_Production_cut_and_OPEC+">2017–2020: Production cut and OPEC+</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=17" title="Edit section: 2017–2020: Production cut and OPEC+">edit</a>]</div> As OPEC members grew weary of a multi-year supply-contest with <a href="/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-126">[126]</a><a href="#cite_note-127">[127]</a><a href="#cite_note-May2017Vienna-51">[51]</a> Longtime oil analyst <a href="/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-128">[128]</a> These production cut deals with non-OPEC countries are generally referred to as OPEC+.<a href="#cite_note-129">[129]</a><a href="#cite_note-130">[130]</a> In December 2017, Russia and OPEC agreed to extend the production cut of 1.8 mbpd until the end of 2018.<a href="#cite_note-131">[131]</a><a href="#cite_note-132">[132]</a> Qatar announced it would withdraw from OPEC effective 1 January 2019.<a href="#cite_note-133">[133]</a> According to the <a href="/wiki/New_York_Times" class="mw-redirect" title="New York Times">New York Times</a>, this was a strategic response to the <a href="/wiki/Qatar_diplomatic_crisis" title="Qatar diplomatic crisis">Qatar diplomatic crisis</a> which Qatar was involved with Saudi Arabia, <a href="/wiki/United_Arab_Emirates" title="United Arab Emirates">United Arab Emirates</a>, <a href="/wiki/Bahrain" title="Bahrain">Bahrain</a>, and <a href="/wiki/Egypt" title="Egypt">Egypt</a>.<a href="#cite_note-134">[134]</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-135">[135]</a> In October 2019, Ecuador announced it would withdraw from OPEC on 1 January 2020 due to financial problems facing the country.<a href="#cite_note-136">[136]</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-137">[137]</a> <div class="mw-heading mw-heading3"><h3 id="2020:_Saudi-Russian_price_war">2020: Saudi-Russian price war</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=18" title="Edit section: 2020: Saudi-Russian price war">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/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="/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_9March2020-138">[138]</a> Another factor was <a href="/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="/wiki/COVID-19_pandemic" title="COVID-19 pandemic">COVID-19 pandemic</a>.<a href="#cite_note-139">[139]</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="/wiki/Black_Monday_(2020)" class="mw-redirect" title="Black Monday (2020)">widespread turmoil in financial markets</a>.<a href="#cite_note-NYT_9March2020-138">[138]</a> Several pundits saw this as a <a href="/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="/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-140">[140]</a><a href="#cite_note-trdt-141">[141]</a><a href="#cite_note-ptfp-142">[142]</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="/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-140">[140]</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-143">[143]</a> "To Russia, this price war is more than just about regaining market share for oil," one analyst claims. "It’s about assaulting the Western economy, especially America’s."<a href="#cite_note-ptfp-142">[142]</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="/wiki/NOPEC" class="mw-redirect" title="NOPEC">NOPEC</a> bill.<a href="#cite_note-144">[144]</a> Meanwhile, Saudi Arabia, represented by Energy Minister Prince Abdulaziz bin Salman, maintains a conciliatory stance towards the U.S. shale industry. He clarified that harming this sector was never their intention, stating, "I made it clear that it was not on our radar or our intention to create any type of damage to their industry... they will rise again from the ashes and thrive and prosper." He also noted that Saudi Arabia is looking forward to a time when U.S. producers thrive once again in a market with higher oil demand."<a href="#cite_note-145">[145]</a> In April 2020, OPEC and a group of other oil producers, including Russia, 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="/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-146">[146]</a> <div class="mw-heading mw-heading3"><h3 id="2021:_Saudi-Emirati_dispute">2021: Saudi-Emirati dispute</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=19" title="Edit section: 2021: Saudi-Emirati dispute">edit</a>]</div> In July 2021, OPEC+ member United Arab Emirates rejected a Saudi proposed eight-month extension to oil output curbs which was in place due to <a href="/wiki/COVID-19" title="COVID-19">COVID-19</a> and lower oil consumption.<a href="#cite_note-147">[147]</a><a href="#cite_note-148">[148]</a> The previous year, OPEC+ cut the equivalent of about 10% of demand at the time. The UAE asked for the maximum amount of oil the group would recognize the country of producing to be raised to 3.8 million barrels a day compared to its previous 3.2 million barrels. A compromise deal allowed UAE to increase its maximum oil output to 3.65 million barrels a day.<a href="#cite_note-149">[149]</a> Under the terms of the agreement, Russia would increase its production from 11 million barrels to 11.5 million by May 2022 as well. All members would increase output by 400,000 barrels per day each month starting in August to gradually offset the previous cuts made due to the COVID pandemic.<a href="#cite_note-150">[150]</a> This compromise, achieved where Saudi Arabia met the United Arab Emirates halfway, underscored OPEC+ unity. UAE Energy Minister <a href="/wiki/Suhail_Al_Mazroui" title="Suhail Al Mazroui">Suhail Al-Mazrouei</a> thanked Saudi Arabia and Russia for facilitating dialogue leading to an agreement. He stated, "The UAE is committed to this group and will always work with it." On the Saudi side, Energy Minister Prince Abdulaziz bin Salman emphasized consensus building and stated that the agreement strengthens OPEC+'s ties and ensures its continuity.<a href="#cite_note-151">[151]</a> <div class="mw-heading mw-heading3"><h3 id="2021–present:_Global_energy_crisis">2021–present: Global energy crisis</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=20" title="Edit section: 2021–present: Global energy crisis">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/2021%E2%80%93present_global_energy_crisis" class="mw-redirect" title="2021–present global energy crisis">2021–present global energy crisis</a></div> The record-high energy prices were driven by a global surge in demand as the world quit the economic recession caused by COVID-19, particularly due to strong energy demand in Asia.<a href="#cite_note-152">[152]</a><a href="#cite_note-153">[153]</a><a href="#cite_note-154">[154]</a> In August 2021, U.S. President <a href="/wiki/Joe_Biden" title="Joe Biden">Joe Biden</a>'s national security adviser <a href="/wiki/Jake_Sullivan" title="Jake Sullivan">Jake Sullivan</a> released a statement calling on OPEC+ to boost <a href="/wiki/List_of_countries_by_oil_production" title="List of countries by oil production">oil production</a> to "offset previous production cuts that OPEC+ imposed during the pandemic until well into 2022."<a href="#cite_note-155">[155]</a> On 28 September 2021, Sullivan met in <a href="/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a> with Saudi Crown Prince <a href="/wiki/Mohammed_bin_Salman" title="Mohammed bin Salman">Mohammed bin Salman</a> to discuss the <a href="/wiki/Price_of_oil" title="Price of oil">high oil prices</a>.<a href="#cite_note-156">[156]</a> The price of oil was about US$80 by October 2021,<a href="#cite_note-157">[157]</a><a href="#cite_note-158">[158]</a><a href="#cite_note-159">[159]</a> the highest since 2014.<a href="#cite_note-160">[160]</a> President Joe Biden and U.S. Energy Secretary <a href="/wiki/Jennifer_Granholm" title="Jennifer Granholm">Jennifer Granholm</a> blamed the OPEC+ for rising oil and gas prices.<a href="#cite_note-161">[161]</a><a href="#cite_note-162">[162]</a><a href="#cite_note-163">[163]</a> <a href="/wiki/Russian_invasion_of_Ukraine" title="Russian invasion of Ukraine">Russia's invasion of Ukraine</a> in February 2022 has altered the global oil trade. EU leaders tried to ban the majority of Russian crude imports, but even prior to the official action imports to Northwest Europe were down. More Russian oil is now sold outside of Europe, more specifically to India and China.<a href="#cite_note-164">[164]</a> In October 2022, key OPEC+ ministers agreed to oil production cuts of 2 million barrels per day, the first production cut since 2020.<a href="#cite_note-165">[165]</a> This led to renewed interest in the passage of NOPEC.<a href="#cite_note-166">[166]</a> <div class="mw-heading mw-heading3"><h3 id="2022:_Oil_production_cut">2022: Oil production cut</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=21" title="Edit section: 2022: Oil production cut">edit</a>]</div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Al_Nahyan-Putin_meeting_(2022-10-11)_3.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/3/3c/Al_Nahyan-Putin_meeting_%282022-10-11%29_3.jpg/220px-Al_Nahyan-Putin_meeting_%282022-10-11%29_3.jpg" decoding="async" width="220" height="136" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/3c/Al_Nahyan-Putin_meeting_%282022-10-11%29_3.jpg/330px-Al_Nahyan-Putin_meeting_%282022-10-11%29_3.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/3c/Al_Nahyan-Putin_meeting_%282022-10-11%29_3.jpg/440px-Al_Nahyan-Putin_meeting_%282022-10-11%29_3.jpg 2x" data-file-width="1880" data-file-height="1160" /></a><figcaption><a href="/wiki/United_Arab_Emirates" title="United Arab Emirates">UAE</a>'s President <a href="/wiki/Mohamed_bin_Zayed_Al_Nahyan" title="Mohamed bin Zayed Al Nahyan">Mohamed bin Zayed Al Nahyan</a> with Russian president <a href="/wiki/Vladimir_Putin" title="Vladimir Putin">Vladimir Putin</a>, days after OPEC+ cut oil production, 11 October 2022<a href="#cite_note-167">[167]</a></figcaption></figure> In October 2022, OPEC+ led by Saudi Arabia announced a large cut to its oil output target in order to aid Russia .<a href="#cite_note-168">[168]</a><a href="#cite_note-169">[169]</a> In response, US President <a href="/wiki/Joe_Biden" title="Joe Biden">Joe Biden</a> vowed "consequences" and said the US government would "re-evaluate" the longstanding <a href="/wiki/Saudi_Arabia%E2%80%93United_States_relations" title="Saudi Arabia–United States relations">U.S. relationship with Saudi Arabia</a>.<a href="#cite_note-170">[170]</a> <a href="/wiki/Robert_Menendez" class="mw-redirect" title="Robert Menendez">Robert Menendez</a>, the Democratic chairman of the U.S. Senate Foreign Relations Committee, called for a freeze on cooperation with and arms sales to Saudi Arabia, accusing the kingdom of helping Russia underwrite its war with Ukraine.<a href="#cite_note-171">[171]</a> Saudi Arabia's foreign ministry stated that the OPEC+ decision was "purely economic" and taken unanimously by all members of the conglomerate, pushing back on pressure to change its stance on the Russo-Ukrainian War at the UN.<a href="#cite_note-172">[172]</a><a href="#cite_note-173">[173]</a> In response, the White House accused Saudi Arabia of pressuring other OPEC nations into agreeing with the production cut, some of which felt coerced, saying the United States had presented the Saudi government with an analysis showing there was no market basis for the cut. United States National Security Council spokesman <a href="/wiki/John_Kirby_(admiral)" title="John Kirby (admiral)">John Kirby</a> said the Saudi government knew the decision will "increase Russian revenues and blunt the effectiveness of sanctions" against Moscow, rejecting the Saudi claim that the move was "purely economic".<a href="#cite_note-174">[174]</a><a href="#cite_note-175">[175]</a> According to a report in The Intercept, sources and experts said that Saudi Arabia had sought even deeper cuts than Russia, saying Saudi Crown Prince <a href="/wiki/Mohammed_bin_Salman" title="Mohammed bin Salman">Mohammed bin Salman</a> wants to sway the <a href="/wiki/2022_United_States_elections" title="2022 United States elections">2022 United States elections</a> in favor of the <a href="/wiki/Republican_Party_(United_States)" title="Republican Party (United States)">GOP</a> and the <a href="/wiki/2024_United_States_presidential_election" title="2024 United States presidential election">2024 United States presidential election</a> in favor of <a href="/wiki/Donald_Trump" title="Donald Trump">Donald Trump</a>.<a href="#cite_note-176">[176]</a> In contrast, Saudi officials maintain that their decision to reduce oil production was driven by concerns over the <a href="/wiki/World_economy" title="World economy">global economy</a>, not political motivations. They state that the cuts were a response to the global economic situation and low inventories, which could trigger a rally in <a href="/wiki/Price_of_oil" title="Price of oil">oil prices</a>.<a href="#cite_note-177">[177]</a> Saudi Arabia affirms its actions by emphasizing its strategic partnership with the U.S., focusing on peace, security, and prosperity.<a href="#cite_note-178">[178]</a> In 2023, the <a href="/wiki/International_Energy_Agency" title="International Energy Agency">IEA</a> predicted that demand for fossil fuels such as oil, natural gas and coal would reach an all-time high by 2030.<a href="#cite_note-179">[179]</a> OPEC rejected the IEA's forecast, saying "what makes such predictions so dangerous, is that they are often accompanied by calls to stop investing in new oil and gas projects."<a href="#cite_note-180">[180]</a><a href="#cite_note-181">[181]</a> <div class="mw-heading mw-heading2"><h2 id="Membership">Membership</h2>[<a href="/w/index.php?title=OPEC&action=edit&section=22" title="Edit section: Membership">edit</a>]</div> <div style="clear:left;" class=""></div> <div class="mw-heading mw-heading3"><h3 id="Current_member_countries">Current member countries</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=23" title="Edit section: Current member countries">edit</a>]</div> As of January 2024, OPEC has 12 member countries: five in the <a href="/wiki/Middle_East" title="Middle East">Middle East</a> (<a href="/wiki/West_Asia" title="West Asia">West Asia</a>), six in <a href="/wiki/Africa" title="Africa">Africa</a>, and one in South America.<a href="#cite_note-182">[182]</a> According to the U.S. <a href="/wiki/Energy_Information_Administration" title="Energy Information Administration">Energy Information Administration</a> (EIA), OPEC's combined rate of oil production (including <a href="/wiki/Natural-gas_condensate" title="Natural-gas condensate">gas condensate</a>) represented 44% of the world's total in 2016,<a href="#cite_note-EIA_Production-183">[183]</a> and OPEC accounted for 81.5% of the world's "proven" oil reserves. Subsequent reports from 2022 indicate that OPEC member countries were then responsible for about 38% of total world crude oil production.<a href="#cite_note-:4-4">[4]</a> It is also estimated that these countries hold 79.5% of the globe's proven oil reserves, with the Middle East alone accounting for 67.2% of OPEC's reserves.<a href="#cite_note-:52-184">[184]</a><a href="#cite_note-:62-185">[185]</a> 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-17">[17]</a> In October 2015, <a href="/wiki/Sudan" title="Sudan">Sudan</a> formally submitted an application to join,<a href="#cite_note-186">[186]</a> but it is not yet a member. <table class="wikitable sortable plainrowheaders"> <tbody><tr> <th scope="col">Country </th> <th scope="col">Region </th> <th scope="col">Duration of membership<a href="#cite_note-OPEC_Member-48">[48]</a><a href="#cite_note-May2017Vienna-51">[51]</a> </th> <th scope="col">Population (2022)<a href="#cite_note-:8-187">[187]</a><a href="#cite_note-:9-188">[188]</a> </th> <th scope="col">Area (km2)<a href="#cite_note-CIA_Area-189">[189]</a><a href="#cite_note-:2-190">[190]</a> </th> <th scope="col" data-sort-type="number"><a href="/wiki/List_of_countries_by_oil_production" title="List of countries by oil production">Oil production</a> (bbl/day, 2023) <a href="#cite_note-bbl-192">[A]</a><a href="#cite_note-:10-193">[192]</a> </th> <th scope="col" data-sort-type="number"><a href="/wiki/List_of_countries_by_proven_oil_reserves" title="List of countries by proven oil reserves">Proven reserves</a> (<a href="/wiki/Barrel_(unit)" title="Barrel (unit)">bbl</a>, 2022)<a href="#cite_note-bbl-192">[A]</a><a href="#cite_note-194">[193]</a><a href="#cite_note-:2-190">[190]</a> </th></tr> <tr> <th scope="row"><img alt="" src="//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="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/35px-Flag_of_Algeria.svg.png 1.5x, //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="/wiki/Algeria" title="Algeria">Algeria</a> </th> <td>North Africa </td> <td data-sort-value="1969">Since 1969 </td> <td align="right">44,903,220 </td> <td align="right">2,381,740 </td> <td align="right">1,183,096 </td> <td align="right">12,200,000,000 </td></tr> <tr> <th scope="row"><img alt="" src="//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="mw-file-element" srcset="//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, //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="/wiki/Republic_of_the_Congo" title="Republic of the Congo">Republic of the Congo</a> </th> <td>Central Africa </td> <td data-sort-value="2018">Since 2018<a href="#cite_note-195">[194]</a> </td> <td align="right">5,970,000 </td> <td align="right">342,000 </td> <td align="right">261,986 </td> <td align="right">1,810,000,000 </td></tr> <tr> <th scope="row"><img alt="" src="//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="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/35px-Flag_of_Equatorial_Guinea.svg.png 1.5x, //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="/wiki/Equatorial_Guinea" title="Equatorial Guinea">Equatorial Guinea</a> </th> <td>Central Africa </td> <td data-sort-value="2017">Since 2017 </td> <td align="right">1,674,910 </td> <td align="right">28,050 </td> <td align="right">88,126 </td> <td align="right">1,100,000,000 </td></tr> <tr> <th scope="row"><img alt="" src="//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="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/31px-Flag_of_Gabon.svg.png 1.5x, //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="/wiki/Gabon" title="Gabon">Gabon</a> </th> <td>Central Africa </td> <td data-sort-value="1975"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style><div class="plainlist"><ul><li>1975–1995,</li><li>Since 2016</li></ul></div> </td> <td align="right">2,388,990 </td> <td align="right">267,667 </td> <td align="right">204,273 </td> <td align="right">2,000,000,000 </td></tr> <tr> <th scope="row"><img alt="" src="//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="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/35px-Flag_of_Iran.svg.png 1.5x, //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="/wiki/Iran" title="Iran">Iran</a> </th> <td><a href="/wiki/Middle_East" title="Middle East">Middle East</a> </td> <td data-sort-value="1960">Since 1960<a href="#cite_note-Founder-196">[B]</a> </td> <td align="right">88,550,570 </td> <td align="right">1,648,000 </td> <td align="right">3,623,455 </td> <td align="right">208,600,000,000 </td></tr> <tr> <th scope="row"><img alt="" src="//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="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/35px-Flag_of_Iraq.svg.png 1.5x, //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="/wiki/Iraq" title="Iraq">Iraq</a> </th> <td>Middle East </td> <td data-sort-value="1960">Since 1960<a href="#cite_note-Founder-196">[B]</a> </td> <td align="right">44,496,120 </td> <td align="right">437,072 </td> <td align="right">4,341,410 </td> <td align="right">145,020,000,000 </td></tr> <tr> <th scope="row"><img alt="" src="//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="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/35px-Flag_of_Kuwait.svg.png 1.5x, //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="/wiki/Kuwait" title="Kuwait">Kuwait</a> </th> <td>Middle East </td> <td data-sort-value="1960">Since 1960<a href="#cite_note-Founder-196">[B]</a> </td> <td align="right">4,268,870 </td> <td align="right">17,820 </td> <td align="right">2,709,958 </td> <td align="right">101,500,000,000 </td></tr> <tr> <th scope="row"><img alt="" src="//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="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/35px-Flag_of_Libya.svg.png 1.5x, //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="/wiki/Libya" title="Libya">Libya</a> </th> <td>North Africa </td> <td data-sort-value="1962">Since 1962 </td> <td align="right">6,812,340 </td> <td align="right">1,759,540 </td> <td align="right">1,225,430 </td> <td align="right">48,360,000,000 </td></tr> <tr> <th scope="row"><img alt="" src="//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="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/35px-Flag_of_Nigeria.svg.png 1.5x, //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="/wiki/Nigeria" title="Nigeria">Nigeria</a> </th> <td>West Africa </td> <td data-sort-value="1971">Since 1971 </td> <td align="right">218,541,210 </td> <td align="right">923,768 </td> <td align="right">1,441,674 </td> <td align="right">36,970,000,000 </td></tr> <tr> <th scope="row"><img alt="" src="//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="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/35px-Flag_of_Saudi_Arabia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/45px-Flag_of_Saudi_Arabia.svg.png 2x" data-file-width="900" data-file-height="600" /> <a href="/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a> </th> <td>Middle East </td> <td data-sort-value="1960">Since 1960<a href="#cite_note-Founder-196">[B]</a> </td> <td align="right">36,408,820 </td> <td align="right">2,149,690 </td> <td align="right">9,733,479 </td> <td align="right">267,190,000,000 </td></tr> <tr> <th scope="row"><img alt="" src="//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="mw-file-element" srcset="//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, //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="/wiki/United_Arab_Emirates" title="United Arab Emirates">United Arab Emirates</a> </th> <td>Middle East </td> <td data-sort-value="1967">Since 1967<a href="#cite_note-UAE-197">[C]</a> </td> <td align="right">9,441,130 </td> <td align="right">83,600 </td> <td align="right">3,393,506 </td> <td align="right">113,000,000,000 </td></tr> <tr> <th scope="row"><img alt="" src="//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="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/35px-Flag_of_Venezuela.svg.png 1.5x, //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="/wiki/Venezuela" title="Venezuela">Venezuela</a> </th> <td>South America </td> <td data-sort-value="1960">Since 1960<a href="#cite_note-Founder-196">[B]</a> </td> <td align="right">28,301,700 </td> <td align="right">916,445 </td> <td align="right">750,506 </td> <td align="right">303,220,000,000 </td></tr> <tr class="sortbottom"> <th colspan="3">OPEC total </th> <th>491,757,880 </th> <th>10,955,392 </th> <th>28,956,906 </th> <th>1,240,970,000,000 </th></tr> <tr> <th colspan="3">World total </th> <th>7,951,150,000 </th> <th>510,072,000 </th> <th>81,803,545 </th> <th>1,564,441,000,000 </th></tr> <tr> <th colspan="3">OPEC percent </th> <th>6.18% </th> <th>2.14% </th> <th>35.39% </th> <th>79% </th></tr></tbody></table> <div class="mw-heading mw-heading3"><h3 id="OPEC+">OPEC+</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=24" title="Edit section: OPEC+">edit</a>]</div> 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-ope2-13">[13]</a> This loose grouping of countries, known as OPEC+, includes <a href="/wiki/Azerbaijan" title="Azerbaijan">Azerbaijan</a>, <a href="/wiki/Bahrain" title="Bahrain">Bahrain</a>, <a href="/wiki/Brunei" title="Brunei">Brunei</a>, <a href="/wiki/Brazil" title="Brazil">Brazil</a>, <a href="/wiki/Kazakhstan" title="Kazakhstan">Kazakhstan</a>, <a href="/wiki/Malaysia" title="Malaysia">Malaysia</a>, <a href="/wiki/Mexico" title="Mexico">Mexico</a>, <a href="/wiki/Oman" title="Oman">Oman</a>, <a href="/wiki/Russia" title="Russia">Russia</a>, <a href="/wiki/South_Sudan" title="South Sudan">South Sudan</a> and <a href="/wiki/Sudan" title="Sudan">Sudan</a>.<a href="#cite_note-198">[195]</a><a href="#cite_note-199">[196]</a> The collaboration among OPEC+ member countries has led to the establishment of the Declaration of Cooperation (DoC) in 2017, which has been subsequently extended multiple times due to its remarkable success. The DoC serves as a framework for cooperation and coordination between OPEC and non-OPEC countries. Additionally, OPEC+ members engage in further cooperative efforts through the Charter of Cooperation (CoC), which provides a platform for long-term collaboration. The CoC facilitates dialogue and the exchange of views on global oil and <a href="/wiki/Energy_market" title="Energy market">energy market</a> conditions, with the overarching goal of ensuring a secure energy supply and fostering lasting stability that benefits producers, consumers, investors, and the <a href="/wiki/World_economy" title="World economy">global economy</a>.<a href="#cite_note-200">[197]</a> <div class="mw-heading mw-heading3"><h3 id="Observers">Observers</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=25" title="Edit section: Observers">edit</a>]</div> Since the 1980s, representatives from Canada, Egypt, Mexico, Norway, Oman, Russia, 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-observers3-201">[198]</a> <div class="mw-heading mw-heading2"><h2 id="New_members">New members</h2>[<a href="/w/index.php?title=OPEC&action=edit&section=26" title="Edit section: New members">edit</a>]</div> Uganda and Somaliland with exploration of crude oil may join OPEC in the future, with likely new production dates of 2024-2025, expansion of OPEC with OPEC+ and new country's in exploration, where criteria of OPEC Charter is production of crude oil. <div class="mw-heading mw-heading3"><h3 id="Lapsed_members">Lapsed members</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=27" title="Edit section: Lapsed members">edit</a>]</div> <table class="wikitable sortable plainrowheaders"> <tbody><tr> <th scope="col">Country </th> <th scope="col">Region </th> <th scope="col">Membership years<a href="#cite_note-OPEC_Member-48">[48]</a> </th> <th scope="col">Population (2022)<a href="#cite_note-:8-187">[187]</a><a href="#cite_note-:9-188">[188]</a> </th> <th scope="col">Area (km2)<a href="#cite_note-CIA_Area-189">[189]</a> </th> <th scope="col"><a href="/wiki/List_of_countries_by_oil_production" title="List of countries by oil production">Oil production</a> (<a href="/wiki/Barrel_(unit)" title="Barrel (unit)">bbl</a>/day, 2023)<a href="#cite_note-:10-193">[192]</a> </th> <th scope="col"><a href="/wiki/List_of_countries_by_proven_oil_reserves" title="List of countries by proven oil reserves">Proven reserves</a> (2022)<a href="#cite_note-:2-190">[190]</a>: 22  </th></tr> <tr> <th scope="row"><a href="/wiki/Angola" title="Angola">Angola</a> </th> <td>Southern Africa </td> <td data-sort-value="2007"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"><ul><li>2007-2023<a href="#cite_note-202">[199]</a></li></ul></div> </td> <td align="right">35,588,987 </td> <td align="right">1,246,700 </td> <td align="right">1,144,402 </td> <td align="right">2,550,000,000 </td></tr> <tr> <th scope="row"><a href="/wiki/Ecuador" title="Ecuador">Ecuador</a> </th> <td>South America </td> <td data-sort-value="1973"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"><ul><li>1973–1992,</li><li>2007–2020<a href="#cite_note-EcuadorExitStatement20200102-203">[200]</a></li></ul></div> </td> <td align="right">18,001.000 </td> <td align="right">283,560 </td> <td align="right">475,274 </td> <td align="right">8,273,000,000 </td></tr> <tr> <th scope="row"><a href="/wiki/Indonesia" title="Indonesia">Indonesia</a> </th> <td>Southeast Asia </td> <td data-sort-value="1962"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"><ul><li>1962–2008,</li><li>Jan–Nov 2016</li></ul></div> </td> <td align="right">275,501,000 </td> <td align="right">1,904,569 </td> <td align="right">608,299 </td> <td align="right">2,250,000,000 </td></tr> <tr> <th scope="row"><a href="/wiki/Qatar" title="Qatar">Qatar</a> </th> <td>Middle East </td> <td data-sort-value="1961">1961–2019<a href="#cite_note-qtrleave-204">[201]</a> </td> <td align="right">2,695,122 </td> <td align="right">11,437 </td> <td align="right">1,322,000 </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="/wiki/Production_quota" title="Production quota">production quotas</a> and membership costs. <a href="/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-98">[98]</a> Ecuador then rejoined in October 2007 before leaving again in January 2020.<a href="#cite_note-eqrleave-205">[202]</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-EcuadorExitStatement20200102-203">[200]</a> Similar concerns prompted <a href="/wiki/Gabon" title="Gabon">Gabon</a> to suspend membership in January 1995;<a href="#cite_note-Gabon-99">[99]</a> it rejoined in July 2016. In May 2008, <a href="/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-109">[109]</a> It rejoined the organization in January 2016,<a href="#cite_note-OPEC_Member-48">[48]</a> but announced another "temporary suspension" of its membership at year-end when OPEC requested a 5% production cut.<a href="#cite_note-LeavingAgain-126">[126]</a> Qatar left OPEC on 1 January 2019, after joining the organization in 1961, to focus on <a href="/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="/wiki/Liquefied_natural_gas" title="Liquefied natural gas">liquified natural gas</a> (LNG).<a href="#cite_note-qtrleave-204">[201]</a><a href="#cite_note-206">[203]</a> In an OPEC meeting in November 2023, Nigeria and Angola, the biggest oil producers in Sub-Saharan Africa, expressed their discontent over OPEC's quotas which, according to them, blocked their efforts to ramp up oil production and boost their foreign reserves. In December 2023, Angola announced it was leaving the OPEC because it disagreed with the organization's production quotas scheme.<a href="#cite_note-207">[204]</a> <div class="mw-heading mw-heading2"><h2 id="Market_information">Market information</h2>[<a href="/w/index.php?title=OPEC&action=edit&section=28" title="Edit section: Market information">edit</a>]</div> As one area in which OPEC members have been able to cooperate productively over the decades, the organisation 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. <div class="mw-heading mw-heading3"><h3 id="Publications_and_research">Publications and research</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=29" title="Edit section: Publications and research">edit</a>]</div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Jodi-circle-logo.png" class="mw-file-description"><img alt="refer to caption" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Jodi-circle-logo.png/220px-Jodi-circle-logo.png" decoding="async" width="220" height="220" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Jodi-circle-logo.png/330px-Jodi-circle-logo.png 1.5x, //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><figcaption>Logo for <a href="/wiki/Joint_Organisations_Data_Initiative" title="Joint Organisations Data Initiative">JODI</a>, in which OPEC is a founding member</figcaption></figure> In April 2001, OPEC collaborated with five other international organizations (<a href="/wiki/Asia-Pacific_Economic_Cooperation" title="Asia-Pacific Economic Cooperation">APEC</a>, <a href="/wiki/Eurostat" title="Eurostat">Eurostat</a>, <a href="/wiki/International_Energy_Agency" title="International Energy Agency">IEA</a>, <a href="/w/index.php?title=Latin_American_Energy_Organisation&action=edit&redlink=1" class="new" title="Latin American Energy Organisation (page does not exist)">OLADE</a> [<a href="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="/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="/wiki/International_Energy_Forum" title="International Energy Forum">IEF</a> and renamed the <a href="/wiki/Joint_Organisations_Data_Initiative" title="Joint Organisations Data Initiative">Joint Organisations Data Initiative</a> (JODI), covering more than 90% of the global oil market. <a href="/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% of the global market for natural gas.<a href="#cite_note-208">[205]</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-209">[206]</a> OPEC also produces an "Annual Statistical Bulletin" (ASB),<a href="#cite_note-ASB-100">[100]</a> and publishes more-frequent updates in its "Monthly Oil Market Report" (MOMR)<a href="#cite_note-210">[207]</a> and "OPEC Bulletin".<a href="#cite_note-211">[208]</a> <div class="mw-heading mw-heading3"><h3 id="Crude_oil_benchmarks">Crude oil benchmarks</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=30" title="Edit section: Crude oil benchmarks">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Benchmark_(crude_oil)" title="Benchmark (crude oil)">Benchmark (crude oil)</a></div> A "crude oil benchmark" is a standardized <a href="/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="/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-212">[209]</a><a href="#cite_note-213">[210]</a> The <a href="/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="/wiki/Weighted_average" class="mw-redirect" title="Weighted average">weighted average</a> of prices for petroleum blends from the OPEC member countries: <a href="/wiki/Sahara_Blend" title="Sahara Blend">Saharan Blend</a> (Algeria), Girassol (Angola), Djeno (Republic of the Congo) Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), <a href="/wiki/Bonny_Light_oil" title="Bonny Light oil">Bonny Light</a> (Nigeria), Arab Light (Saudi Arabia), Murban (UAE), and Merey (Venezuela).<a href="#cite_note-basket-214">[211]</a> <a href="/wiki/Brent_Crude" title="Brent Crude">North Sea Brent Crude Oil</a> is the leading <a href="/wiki/Benchmark_(crude_oil)" title="Benchmark (crude oil)">benchmark</a> 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="/wiki/West_Texas_Intermediate" title="West Texas Intermediate">West Texas Intermediate</a> (WTI), <a href="/wiki/Dubai_Crude" title="Dubai Crude">Dubai Crude</a>, <a href="/wiki/DME_Oman_Crude_Oil_Futures_Contract" title="DME Oman Crude Oil Futures Contract">Oman Crude</a>, and <a href="/wiki/Urals_oil" title="Urals oil">Urals oil</a>.<a href="#cite_note-215">[212]</a> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Oil_price_benchmarks.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/9/93/Oil_price_benchmarks.webp/300px-Oil_price_benchmarks.webp.png" decoding="async" width="300" height="105" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/93/Oil_price_benchmarks.webp/450px-Oil_price_benchmarks.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/93/Oil_price_benchmarks.webp/600px-Oil_price_benchmarks.webp.png 2x" data-file-width="4413" data-file-height="1544" /></a><figcaption> <style data-mw-deduplicate="TemplateStyles:r981673959">.mw-parser-output .legend{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .legend-color{display:inline-block;min-width:1.25em;height:1.25em;line-height:1.25;margin:1px 0;text-align:center;border:1px solid black;background-color:transparent;color:black}.mw-parser-output .legend-text{}</style><div class="legend">  <a href="/wiki/West_Texas_Intermediate" title="West Texas Intermediate">West Texas Intermediate</a></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend">  <a href="/wiki/Brent_Crude" title="Brent Crude">Brent Crude</a></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend">  <a href="/wiki/Urals_oil" title="Urals oil">Urals oil</a> (Russian export mix)</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend">  <a href="/wiki/Dubai_Crude" title="Dubai Crude">Dubai Crude</a></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend">  OPEC Basket Price</div> </figcaption></figure> <div class="mw-heading mw-heading3"><h3 id="Spare_capacity">Spare capacity</h3>[<a href="/w/index.php?title=OPEC&action=edit&section=31" title="Edit section: Spare capacity">edit</a>]</div> The <a href="/wiki/Energy_Information_Administration" title="Energy Information Administration">US Energy Information Administration</a>, the statistical arm of the <a href="/wiki/US_Department_of_Energy" class="mw-redirect" title="US Department of Energy">US Department of Energy</a>, 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_2014-93">[93]</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-216">[213]</a> By November 2015, the IEA changed its assessment[<a href="/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-217">[214]</a> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2>[<a href="/w/index.php?title=OPEC&action=edit&section=32" title="Edit section: See also">edit</a>]</div> <style data-mw-deduplicate="TemplateStyles:r1239009302">.mw-parser-output .portalbox{padding:0;margin:0.5em 0;display:table;box-sizing:border-box;max-width:175px;list-style:none}.mw-parser-output .portalborder{border:1px solid var(--border-color-base,#a2a9b1);padding:0.1em;background:var(--background-color-neutral-subtle,#f8f9fa)}.mw-parser-output .portalbox-entry{display:table-row;font-size:85%;line-height:110%;height:1.9em;font-style:italic;font-weight:bold}.mw-parser-output .portalbox-image{display:table-cell;padding:0.2em;vertical-align:middle;text-align:center}.mw-parser-output .portalbox-link{display:table-cell;padding:0.2em 0.2em 0.2em 0.3em;vertical-align:middle}@media(min-width:720px){.mw-parser-output .portalleft{clear:left;float:left;margin:0.5em 1em 0.5em 0}.mw-parser-output .portalright{clear:right;float:right;margin:0.5em 0 0.5em 1em}}</style><ul role="navigation" aria-label="Portals" class="noprint portalbox portalborder portalright"> <li class="portalbox-entry"><a href="/wiki/File:Crystal_energy.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/1/14/Crystal_energy.svg/29px-Crystal_energy.svg.png" decoding="async" width="29" height="28" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/14/Crystal_energy.svg/44px-Crystal_energy.svg.png 1.5x, //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="/wiki/Portal:Energy" title="Portal:Energy">Energy portal</a></li></ul> <ul><li><a href="/wiki/Organization_of_Arab_Petroleum_Exporting_Countries" title="Organization of Arab Petroleum Exporting Countries">Organization of Arab Petroleum Exporting Countries</a></li> <li><a href="/wiki/Big_Oil" title="Big Oil">Big Oil</a></li> <li><a href="/wiki/Energy_diplomacy" title="Energy diplomacy">Energy diplomacy</a></li> <li><a href="/wiki/List_of_country_groupings" title="List of country groupings">List of country groupings</a></li> <li><a href="/wiki/List_of_intergovernmental_organizations" title="List of intergovernmental organizations">List of intergovernmental organizations</a></li> <li><a href="/wiki/Oligopoly" title="Oligopoly">Oligopoly</a></li> <li><a href="/wiki/World_oil_market_chronology_from_2003" title="World oil market chronology from 2003">World oil market chronology from 2003</a></li> <li><a href="/wiki/Gasoline" title="Gasoline">Gasoline</a></li> <li><a href="/wiki/Peak_oil" title="Peak oil">Peak oil</a></li> <li><a href="/wiki/Peak_gas" title="Peak gas">Peak gas</a></li> <li><a href="/wiki/Arun_gas_field" title="Arun gas field">Arun gas field</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="Notes">Notes</h2>[<a href="/w/index.php?title=OPEC&action=edit&section=33" title="Edit section: Notes">edit</a>]</div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-upper-alpha"> <div class="mw-references-wrap"><ol class="references"> <li id="cite_note-bbl-192">^ <a href="#cite_ref-bbl_192-0">a</a> <a href="#cite_ref-bbl_192-1">b</a> One petroleum barrel (<a href="/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="/wiki/Oil_tanker#Size_categories" title="Oil tanker">supertanker</a> typically holds 2,000,000 barrels (320,000 m3),<a href="#cite_note-191">[191]</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-196">^ <a href="#cite_ref-Founder_196-0">a</a> <a href="#cite_ref-Founder_196-1">b</a> <a href="#cite_ref-Founder_196-2">c</a> <a href="#cite_ref-Founder_196-3">d</a> <a href="#cite_ref-Founder_196-4">e</a> The five founding members attended the first OPEC conference in September 1960. </li> <li id="cite_note-UAE-197"><a href="#cite_ref-UAE_197-0">^</a> The UAE was founded in December 1971. Its OPEC membership originated with the <a href="/wiki/Emirate_of_Abu_Dhabi" title="Emirate of Abu Dhabi">Emirate of Abu Dhabi</a>. </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2>[<a href="/w/index.php?title=OPEC&action=edit&section=34" title="Edit section: References">edit</a>]</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239543626"><div class="reflist reflist-columns references-column-width" style="column-width: 30em;"> <ol class="references"> <li id="cite_note-:3-1">^ <a href="#cite_ref-:3_1-0">a</a> <a href="#cite_ref-:3_1-1">b</a> <style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.eia.gov/tools/glossary/index.php?id=O#opec">"GLOSSARY"</a>. U.S. Energy Information Administration. Retrieved 8 April 2024.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=U.S.+Energy+Information+Administration&rft.atitle=GLOSSARY&rft_id=https%3A%2F%2Fwww.eia.gov%2Ftools%2Fglossary%2Findex.php%3Fid%3DO%23opec&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-:7-2">^ <a href="#cite_ref-:7_2-0">a</a> <a href="#cite_ref-:7_2-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJelley2017" class="citation cs2">Jelley, Nick (19 January 2017), <a rel="nofollow" class="external text" href="https://www.oxfordreference.com/display/10.1093/acref/9780191826276.001.0001/acref-9780191826276-e-475">"OPEC"</a>, A Dictionary of Energy Science, Oxford University Press, <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1093%2Facref%2F9780191826276.001.0001">10.1093/acref/9780191826276.001.0001</a>, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-19-182627-6" title="Special:BookSources/978-0-19-182627-6"><bdi>978-0-19-182627-6</bdi></a>, retrieved 8 April 2024</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=A+Dictionary+of+Energy+Science&rft.atitle=OPEC&rft.date=2017-01-19&rft_id=info%3Adoi%2F10.1093%2Facref%2F9780191826276.001.0001&rft.isbn=978-0-19-182627-6&rft.aulast=Jelley&rft.aufirst=Nick&rft_id=https%3A%2F%2Fwww.oxfordreference.com%2Fdisplay%2F10.1093%2Facref%2F9780191826276.001.0001%2Facref-9780191826276-e-475&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-3"><a href="#cite_ref-3">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.bbc.com/news/business-61188579">"Opec: What is it and what is happening to oil prices?"</a>. 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Retrieved 26 March 2024.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.eia.gov&rft.atitle=Where+our+oil+comes+from+-+U.S.+Energy+Information+Administration+%28EIA%29&rft_id=https%3A%2F%2Fwww.eia.gov%2Fenergyexplained%2Foil-and-petroleum-products%2Fwhere-our-oil-comes-from.php&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-:5-5"><a href="#cite_ref-:5_5-0">^</a> Organization of the Petroleum Exporting Countries. (2023). OPEC Annual Statistical Bulletin (58th ed.), 90 pages. Retrieved from <a rel="nofollow" class="external free" href="https://asb.opec.org/">https://asb.opec.org/</a>. ISSN: 0475-0608. (See pages 7 and 22). </li> <li id="cite_note-:6-6"><a href="#cite_ref-:6_6-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.opec.org/opec_web/en/data_graphs/330.htm">"OPEC Share of World Crude Oil Reserves"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=OPEC+Share+of+World+Crude+Oil+Reserves&rft_id=https%3A%2F%2Fwww.opec.org%2Fopec_web%2Fen%2Fdata_graphs%2F330.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-FOOTNOTEColgan2021The_Rise_of_OPEC,_pp._59–93-7">^ <a href="#cite_ref-FOOTNOTEColgan2021The_Rise_of_OPEC,_pp._59–93_7-0">a</a> <a href="#cite_ref-FOOTNOTEColgan2021The_Rise_of_OPEC,_pp._59–93_7-1">b</a> <a href="#CITEREFColgan2021">Colgan 2021</a>, The Rise of OPEC, pp. 59–93. </li> <li id="cite_note-:1-8">^ <a href="#cite_ref-:1_8-0">a</a> <a href="#cite_ref-:1_8-1">b</a> <a href="#cite_ref-:1_8-2">c</a> <a href="#cite_ref-:1_8-3">d</a> <a href="#cite_ref-:1_8-4">e</a> <a href="#cite_ref-:1_8-5">f</a> <a href="#cite_ref-:1_8-6">g</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFColgan2021" class="citation book cs1">Colgan, Jeff D. (2021). <a rel="nofollow" class="external text" href="https://oxford.universitypressscholarship.com/view/10.1093/oso/9780197546376.001.0001/oso-9780197546376-chapter-4">"The Stagnation of OPEC"</a>. Partial Hegemony: Oil Politics and International Order. Oxford University Press. pp. 94–118. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1093%2Foso%2F9780197546376.001.0001">10.1093/oso/9780197546376.001.0001</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-19-754637-6" title="Special:BookSources/978-0-19-754637-6"><bdi>978-0-19-754637-6</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=The+Stagnation+of+OPEC&rft.btitle=Partial+Hegemony%3A+Oil+Politics+and+International+Order&rft.pages=94-118&rft.pub=Oxford+University+Press&rft.date=2021&rft_id=info%3Adoi%2F10.1093%2Foso%2F9780197546376.001.0001&rft.isbn=978-0-19-754637-6&rft.aulast=Colgan&rft.aufirst=Jeff+D.&rft_id=https%3A%2F%2Foxford.universitypressscholarship.com%2Fview%2F10.1093%2Foso%2F9780197546376.001.0001%2Foso-9780197546376-chapter-4&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-9"><a href="#cite_ref-9">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFStevens2020" class="citation web cs1">Stevens, Pippa (9 April 2020). <a rel="nofollow" class="external text" href="https://www.cnbc.com/2020/04/09/oil-jumps-ahead-of-make-or-break-opec-meeting.html">"OPEC and allies agree to historic 10 million barrel per day production cut"</a>. <a href="/wiki/CNBC" title="CNBC">CNBC</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=CNBC&rft.atitle=OPEC+and+allies+agree+to+historic+10+million+barrel+per+day+production+cut&rft.date=2020-04-09&rft.aulast=Stevens&rft.aufirst=Pippa&rft_id=https%3A%2F%2Fwww.cnbc.com%2F2020%2F04%2F09%2Foil-jumps-ahead-of-make-or-break-opec-meeting.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-10"><a href="#cite_ref-10">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLeClair2016" class="citation book cs1">LeClair, Mark S. (8 July 2016) [2000]. "The History and Evlauation of Significant commodity Cartels". <a rel="nofollow" class="external text" href="https://books.google.com/books?id=hW6lDAAAQBAJ">International Commodity Markets and the Role of Cartels</a> (reprint ed.). Abingdon: Routledge. p. 81. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-315-50088-1" title="Special:BookSources/978-1-315-50088-1"><bdi>978-1-315-50088-1</bdi></a>. Retrieved 11 June 2023. <q>OPEC, the most notorious of the modern cartels, functioned effectively for only thirteen years.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=The+History+and+Evlauation+of+Significant+commodity+Cartels&rft.btitle=International+Commodity+Markets+and+the+Role+of+Cartels&rft.place=Abingdon&rft.pages=81&rft.edition=reprint&rft.pub=Routledge&rft.date=2016-07-08&rft.isbn=978-1-315-50088-1&rft.aulast=LeClair&rft.aufirst=Mark+S.&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DhW6lDAAAQBAJ&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-11"><a href="#cite_ref-11">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFTerhechte2009" class="citation book cs1"><a href="/wiki/J%C3%B6rg_Philipp_Terhechte" title="Jörg Philipp Terhechte">Terhechte, Jörg Philipp</a> (1 December 2009). "Applying European Competition Law to International Organizations: The Case of OPEC". In Herrmann, Christoph; <a href="/wiki/J%C3%B6rg_Philipp_Terhechte" title="Jörg Philipp Terhechte">Terhechte, Jörg Philipp</a> (eds.). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=ugnfC6oFH2YC">European Yearbook of International Economic Law 2010</a>. Heidelberg: Springer Science & Business Media. p. 195. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-3-540-78883-6" title="Special:BookSources/978-3-540-78883-6"><bdi>978-3-540-78883-6</bdi></a>. Retrieved 11 June 2023. <q>[...] the question whether OPEC's activities, those of its member states and those of the state-owned enterprises are protected by the principle of State Immunity is to be answered in accordance with the preconditions set by the UN Convention as an expression of common principles of International law. 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Retrieved 2 August 2019. <q>The deal represents the latest successful policy effort by the 24 member supercartel, informally referred to as the 'Vienna Group' or 'OPEC+,' to put their thumb on the scale of global oil markets. And it's a huge thumb indeed. [...] OPEC's 14 members control 35 percent of global oil supplies and 82 percent of proven reserves. With the addition of the 10 Non-OPEC nations, notable among them Russia, Mexico and Kazakhstan, those shares increase to 55 percent and 90 percent respectively. This affords OPEC+ a level of influence over the world economy never seen before.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Forbes&rft.atitle=OPEC+Is+Dead%2C+Long+Live+OPEC%2B&rft.aulast=Cohen&rft.aufirst=Ariel&rft_id=https%3A%2F%2Fwww.forbes.com%2Fsites%2Farielcohen%2F2018%2F06%2F29%2Fopec-is-dead-long-live-opec%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-FOOTNOTEColgan2021107–109-14"><a href="#cite_ref-FOOTNOTEColgan2021107–109_14-0">^</a> <a href="#CITEREFColgan2021">Colgan 2021</a>, pp. 107–109. </li> <li id="cite_note-15"><a href="#cite_ref-15">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFOPEC2020" class="citation web cs1">OPEC, Organization of the Petroleum Exporting Countries (15 July 2020). <a rel="nofollow" class="external text" href="https://www.opec.org/opec_web/en/press_room/6060.htm">"JMMC sees improving market conditions and conformity levels"</a>. www.opec.org. Retrieved 4 April 2024.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.opec.org&rft.atitle=JMMC+sees+improving+market+conditions+and+conformity+levels&rft.date=2020-07-15&rft.aulast=OPEC&rft.aufirst=Organization+of+the+Petroleum+Exporting+Countries&rft_id=https%3A%2F%2Fwww.opec.org%2Fopec_web%2Fen%2Fpress_room%2F6060.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-16"><a href="#cite_ref-16">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEl_Gamal2020" class="citation web cs1">El Gamal, Rania (15 July 2020). Edmund, Blair (ed.). <a rel="nofollow" class="external text" href="https://www.reuters.com/article/oil-opec-talks-idINS8N28P02L/">"OPEC+ panel agrees on easing oil cuts, compensation plan, says OPEC+ source"</a>. www.reuters.com. 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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"> </li> <li id="cite_note-35"><a href="#cite_ref-35">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMotadel2015" class="citation news cs1">Motadel, David (24 May 2015). <a rel="nofollow" class="external text" href="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>. <a href="/wiki/The_New_York_Times" title="The New York Times">The New York Times</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20150908005002/http://www.nytimes.com/2015/05/24/opinion/sunday/defending-the-faith-in-the-middle-east.html">Archived</a> from the original on 8 September 2015. 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+New+York+Times&rft.atitle=%27Defending+the+Faith%27+in+the+Middle+East&rft.date=2015-05-24&rft.aulast=Motadel&rft.aufirst=David&rft_id=https%3A%2F%2Fwww.nytimes.com%2F2015%2F05%2F24%2Fopinion%2Fsunday%2Fdefending-the-faith-in-the-middle-east.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-36"><a href="#cite_ref-36">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMattar2004" class="citation encyclopaedia cs1"><a href="/wiki/Philip_Mattar" title="Philip Mattar">Mattar, Philip</a>, ed. (2004). <a rel="nofollow" class="external text" href="http://www.encyclopedia.com/topic/OPEC.aspx">"Organisation of Petroleum Exporting Countries (OPEC)"</a>. Encyclopedia of the Modern Middle East and North Africa. Vol. 3 (2nd ed.). Detroit: Gale / Macmillan Reference USA. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-02-865769-1" title="Special:BookSources/978-0-02-865769-1"><bdi>978-0-02-865769-1</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20160409042033/http://www.encyclopedia.com/topic/OPEC.aspx">Archived</a> from the original on 9 April 2016. Retrieved 10 April 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Organisation+of+Petroleum+Exporting+Countries+%28OPEC%29&rft.btitle=Encyclopedia+of+the+Modern+Middle+East+and+North+Africa&rft.place=Detroit&rft.edition=2nd&rft.pub=Gale+%2F+Macmillan+Reference+USA&rft.date=2004&rft.isbn=978-0-02-865769-1&rft_id=http%3A%2F%2Fwww.encyclopedia.com%2Ftopic%2FOPEC.aspx&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-open-37">^ <a href="#cite_ref-open_37-0">a</a> <a href="#cite_ref-open_37-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.opec.org/opec_web/static_files_project/media/downloads/publications/GenInfo.pdf">"General Information"</a> (PDF). OPEC. May 2012. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20140413233306/http://www.opec.org/opec_web/static_files_project/media/downloads/publications/GenInfo.pdf">Archived</a> (PDF) from the original on 13 April 2014. 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(2012). <a rel="nofollow" class="external text" href="https://doi.org/10.1093%2Fjahist%2Fjas073">"Oil and the American Century"</a>. <a href="/wiki/The_Journal_of_American_History" title="The Journal of American History">The Journal of American History</a>. 99 (1): 24–39. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1093%2Fjahist%2Fjas073">10.1093/jahist/jas073</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Journal+of+American+History&rft.atitle=Oil+and+the+American+Century&rft.volume=99&rft.issue=1&rft.pages=24-39&rft.date=2012&rft_id=info%3Adoi%2F10.1093%2Fjahist%2Fjas073&rft.aulast=Painter&rft.aufirst=David+S.&rft_id=https%3A%2F%2Fdoi.org%2F10.1093%252Fjahist%252Fjas073&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-40"><a href="#cite_ref-40">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFVassiliou2009" class="citation book cs1">Vassiliou, M.S. 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Scarecrow Press. p. 7. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-8108-6288-3" title="Special:BookSources/978-0-8108-6288-3"><bdi>978-0-8108-6288-3</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Historical+Dictionary+of+the+Petroleum+Industry&rft.pages=7&rft.pub=Scarecrow+Press&rft.date=2009&rft.isbn=978-0-8108-6288-3&rft.aulast=Vassiliou&rft.aufirst=M.S.&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DbBvz_YxlB-AC%26pg%3DPA7&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-:0-41"><a href="#cite_ref-:0_41-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFStyan2006" class="citation book cs1">Styan, David (2006). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=8U_sWfvgToQC&pg=PA74">France and Iraq: Oil, Arms and French Policy Making in the Middle East</a>. 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The Telegraph. 29 June 1965.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Telegraph&rft.atitle=Switzerland+Reduces+Her+Foreign+Population&rft.date=1965-06-29&rft_id=https%3A%2F%2Fnews.google.com%2Fnewspapers%3Fnid%3D2209%26dat%3D19650629%26id%3DzhpbAAAAIBAJ%26sjid%3D404NAAAAIBAJ%26pg%3D7157%2C5955607&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-45"><a href="#cite_ref-45">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.opec.org/opec_web/en/press_room/3157.htm">"OPEC: Thank you Austria – thank you Vienna!"</a>. www.opec.org. Retrieved 2 June 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.opec.org&rft.atitle=OPEC%3A+Thank+you+Austria+%E2%80%93+thank+you+Vienna%21&rft_id=https%3A%2F%2Fwww.opec.org%2Fopec_web%2Fen%2Fpress_room%2F3157.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-FOOTNOTEColgan2021The_Rise_of_OPEC,_pp._73–78-46">^ <a href="#cite_ref-FOOTNOTEColgan2021The_Rise_of_OPEC,_pp._73–78_46-0">a</a> <a href="#cite_ref-FOOTNOTEColgan2021The_Rise_of_OPEC,_pp._73–78_46-1">b</a> <a href="#cite_ref-FOOTNOTEColgan2021The_Rise_of_OPEC,_pp._73–78_46-2">c</a> <a href="#cite_ref-FOOTNOTEColgan2021The_Rise_of_OPEC,_pp._73–78_46-3">d</a> <a href="#CITEREFColgan2021">Colgan 2021</a>, The Rise of OPEC, pp. 73–78. </li> <li id="cite_note-OPEC_1971_Tripoli_Agreement-47"><a href="#cite_ref-OPEC_1971_Tripoli_Agreement_47-0">^</a> <a href="/wiki/Marius_Vassiliou" title="Marius Vassiliou">Marius Vassiliou</a> (2009). 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John Wiley & Sons. p. 95. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-7456-5841-4" title="Special:BookSources/978-0-7456-5841-4"><bdi>978-0-7456-5841-4</bdi></a>. <a rel="nofollow" class="external text" href="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=978-0-7456-5841-4&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"> </li> <li id="cite_note-Robert-85">^ <a href="#cite_ref-Robert_85-0">a</a> <a href="#cite_ref-Robert_85-1">b</a> <a href="#cite_ref-Robert_85-2">c</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRobert2004" class="citation book cs1">Robert, Paul (2004). <a rel="nofollow" class="external text" href="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="/wiki/Houghton_Mifflin_Company" class="mw-redirect" title="Houghton Mifflin Company">Houghton Mifflin Company</a>. pp. <a rel="nofollow" class="external text" href="https://archive.org/details/endofoilonedgeof00robe_0/page/103">103–104</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/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"> </li> <li id="cite_note-86"><a href="#cite_ref-86">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHershey1989" class="citation news cs1">Hershey, Robert D. Jr. (30 December 1989). <a rel="nofollow" class="external text" href="https://www.nytimes.com/1989/12/30/business/worrying-anew-over-oil-imports.html?pagewanted=all">"Worrying Anew Over Oil Imports"</a>. <a href="/wiki/The_New_York_Times" title="The New York Times">The New York Times</a>. <a rel="nofollow" class="external text" href="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&rft.aufirst=Robert+D.+Jr.&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"> </li> <li id="cite_note-Ali-87">^ <a href="#cite_ref-Ali_87-0">a</a> <a href="#cite_ref-Ali_87-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><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="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-241-27925-0" title="Special:BookSources/978-0-241-27925-0"><bdi>978-0-241-27925-0</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=978-0-241-27925-0&rft.aulast=Al-Naimi&rft.aufirst=Ali&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-Ali2-88"><a href="#cite_ref-Ali2_88-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAl-Naimi2016" class="citation book cs1">Al-Naimi, Ali (2016). Out of the Desert. Great Britain: Portfolio Penguin. pp. 136–137. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-241-27925-0" title="Special:BookSources/978-0-241-27925-0"><bdi>978-0-241-27925-0</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=136-137&rft.pub=Portfolio+Penguin&rft.date=2016&rft.isbn=978-0-241-27925-0&rft.aulast=Al-Naimi&rft.aufirst=Ali&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-89"><a href="#cite_ref-89">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGaidar2007" class="citation web cs1"><a href="/wiki/Yegor_Gaidar" title="Yegor Gaidar">Gaidar, Yegor</a> (April 2007). <a rel="nofollow" class="external text" href="https://www.aei.org/wp-content/uploads/2011/10/20070419_Gaidar.pdf">"The Soviet Collapse: Grain and Oil"</a> (PDF). <a href="/wiki/American_Enterprise_Institute" title="American Enterprise Institute">American Enterprise Institute</a>. <a rel="nofollow" class="external text" href="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"> </li> <li id="cite_note-90"><a href="#cite_ref-90">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMcMaken2014" class="citation web cs1">McMaken, Ryan (7 November 2014). <a rel="nofollow" class="external text" href="https://mises.org/library/economics-behind-fall-berlin-wall">"The Economics Behind the Fall of the Berlin Wall"</a>. <a href="/wiki/Mises_Institute" title="Mises Institute">Mises Institute</a>. <a rel="nofollow" class="external text" href="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"> </li> <li id="cite_note-Brief_History-91"><a href="#cite_ref-Brief_History_91-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="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/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"> </li> <li id="cite_note-limit-92"><a href="#cite_ref-limit_92-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="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/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"> </li> <li id="cite_note-EIA_2014-93">^ <a href="#cite_ref-EIA_2014_93-0">a</a> <a href="#cite_ref-EIA_2014_93-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="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/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"> </li> <li id="cite_note-94"><a href="#cite_ref-94">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="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/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"> </li> <li id="cite_note-Brent-95"><a href="#cite_ref-Brent_95-0">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="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"> [<a href="/wiki/Wikipedia:Link_rot" title="Wikipedia:Link rot">permanent dead link</a>‍] </li> <li id="cite_note-96"><a href="#cite_ref-96">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFIbrahim1990" class="citation news cs1">Ibrahim, Youssef M. (18 July 1990). <a rel="nofollow" class="external text" href="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>. <a href="/wiki/The_New_York_Times" title="The New York Times">The New York Times</a>. <a rel="nofollow" class="external text" href="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"> </li> <li id="cite_note-97"><a href="#cite_ref-97">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=RBRTE&f=M">"Europe Brent Spot Price FOB"</a>. www.eia.gov. Retrieved 23 September 2024.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.eia.gov&rft.atitle=Europe+Brent+Spot+Price+FOB&rft_id=https%3A%2F%2Fwww.eia.gov%2Fdnav%2Fpet%2Fhist%2FLeafHandler.ashx%3Fn%3DPET%26s%3DRBRTE%26f%3DM&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-Ecuador-98">^ <a href="#cite_ref-Ecuador_98-0">a</a> <a href="#cite_ref-Ecuador_98-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.nytimes.com/1992/09/18/business/ecuador-set-to-leave-opec.html">"Ecuador Set to Leave OPEC"</a>. <a href="/wiki/The_New_York_Times" title="The New York Times">The New York Times</a>. <a href="/wiki/Associated_Press" title="Associated Press">Associated Press</a>. 18 September 1992. <a rel="nofollow" class="external text" href="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"> </li> <li id="cite_note-Gabon-99">^ <a href="#cite_ref-Gabon_99-0">a</a> <a href="#cite_ref-Gabon_99-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.nytimes.com/1995/01/09/business/gabon-plans-to-quit-opec.html">"Gabon Plans To Quit OPEC"</a>. <a href="/wiki/The_New_York_Times" title="The New York Times">The New York Times</a>. <a href="/wiki/Bloomberg_News" title="Bloomberg News">Bloomberg News</a>. 9 January 1995. <a rel="nofollow" class="external text" href="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"> </li> <li id="cite_note-ASB-100">^ <a href="#cite_ref-ASB_100-0">a</a> <a href="#cite_ref-ASB_100-1">b</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="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/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"> </li> <li id="cite_note-101"><a href="#cite_ref-101">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="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>. United Press International. 5 February 2010. <a rel="nofollow" class="external text" href="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... 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Retrieved 25 May 2024.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.bloomberg.com&rft.atitle=OPEC%2B+Makes+Deal+to+Boost+Output+as+Gulf+Allies+Call+Truce&rft.date=2021-07-18&rft.aulast=Blas&rft.aufirst=Javier&rft.au=El+Wardany%2C+Salma&rft.au=Smith%2C+Grant&rft.au=Khrennikova%2C+Dina&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2021-07-18%2Fopec-clinches-deal-to-boost-output-as-gulf-allies-call-truce&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-152"><a href="#cite_ref-152">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.nbcnews.com/news/world/covid-center-world-energy-crunch-cascade-problems-fuel-rcna2688">"Covid is at the center of world's energy crunch, but a cascade of problems is fueling it"</a>. NBC News. 8 October 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=NBC+News&rft.atitle=Covid+is+at+the+center+of+world%27s+energy+crunch%2C+but+a+cascade+of+problems+is+fueling+it&rft.date=2021-10-08&rft_id=https%3A%2F%2Fwww.nbcnews.com%2Fnews%2Fworld%2Fcovid-center-world-energy-crunch-cascade-problems-fuel-rcna2688&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-153"><a href="#cite_ref-153">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.bloomberg.com/opinion/articles/2021-10-17/energy-crisis-don-t-expect-opec-to-keep-you-warm-this-winter">"Don't Expect OPEC to Keep You Warm This Winter"</a>. Bloomberg. 17 October 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Bloomberg&rft.atitle=Don%27t+Expect+OPEC+to+Keep+You+Warm+This+Winter&rft.date=2021-10-17&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fopinion%2Farticles%2F2021-10-17%2Fenergy-crisis-don-t-expect-opec-to-keep-you-warm-this-winter&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-154"><a href="#cite_ref-154">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.cnbc.com/2021/10/06/strategist-on-oil-prices-in-winter-china-and-europe-energy-crisis.html">"Oil prices could hit an 'off the charts spike,' says strategist"</a>. CNBC. 5 October 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=CNBC&rft.atitle=Oil+prices+could+hit+an+%27off+the+charts+spike%2C%27+says+strategist&rft.date=2021-10-05&rft_id=https%3A%2F%2Fwww.cnbc.com%2F2021%2F10%2F06%2Fstrategist-on-oil-prices-in-winter-china-and-europe-energy-crisis.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-155"><a href="#cite_ref-155">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://thehill.com/opinion/energy-environment/567988-turning-to-foreign-leaders-to-fix-our-energy-crisis-is-a-shameful">"Turning to foreign leaders to fix our energy crisis is a shameful solution"</a>. The Hill. 16 August 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Hill&rft.atitle=Turning+to+foreign+leaders+to+fix+our+energy+crisis+is+a+shameful+solution&rft.date=2021-08-16&rft_id=https%3A%2F%2Fthehill.com%2Fopinion%2Fenergy-environment%2F567988-turning-to-foreign-leaders-to-fix-our-energy-crisis-is-a-shameful&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-156"><a href="#cite_ref-156">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.reuters.com/business/white-house-said-top-aide-planned-discuss-oil-prices-with-saudi-arabia-2021-09-30/">"Top White House aide discussed oil prices with Saudi Arabia"</a>. Reuters. 1 October 2021.</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=Top+White+House+aide+discussed+oil+prices+with+Saudi+Arabia&rft.date=2021-10-01&rft_id=https%3A%2F%2Fwww.reuters.com%2Fbusiness%2Fwhite-house-said-top-aide-planned-discuss-oil-prices-with-saudi-arabia-2021-09-30%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-157"><a href="#cite_ref-157">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.aljazeera.com/economy/2021/10/1/global-energy-crunch-us-burnout-and-opecs-no-1-call">"Global energy crunch, US burnout, and OPEC's no 1 call"</a>. 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Financial Times. 31 October 2021. <a rel="nofollow" class="external text" href="https://ghostarchive.org/archive/20221210/https://www.ft.com/content/cecf912d-705e-47b0-9ceb-911e7c517fd8">Archived</a> from the original on 10 December 2022.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Financial+Times&rft.atitle=US+energy+secretary+blames+Opec+%27cartel%27+for+high+petrol+prices&rft.date=2021-10-31&rft_id=https%3A%2F%2Fwww.ft.com%2Fcontent%2Fcecf912d-705e-47b0-9ceb-911e7c517fd8&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-162"><a href="#cite_ref-162">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.reuters.com/business/energy/biden-blames-higher-oil-gas-prices-opec-2021-11-02/">"Biden blames higher oil and gas prices on OPEC"</a>. Reuters. 2 November 2021.</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=Biden+blames+higher+oil+and+gas+prices+on+OPEC&rft.date=2021-11-02&rft_id=https%3A%2F%2Fwww.reuters.com%2Fbusiness%2Fenergy%2Fbiden-blames-higher-oil-gas-prices-opec-2021-11-02%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-163"><a href="#cite_ref-163">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.aljazeera.com/economy/2021/11/22/opec-warn-of-response-as-biden-mulls-tapping-strategic-reserves">"OPEC+ warns of response as Biden readies to tap strategic reserve"</a>. 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CNBC. Retrieved 5 September 2022.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=CNBC&rft.atitle=These+charts+show+how+Russia%27s+invasion+of+Ukraine+has+changed+global+oil+flows&rft.date=2022-05-31&rft.aulast=Stevens&rft.aufirst=Pippa&rft_id=https%3A%2F%2Fwww.cnbc.com%2F2022%2F05%2F31%2Fthese-charts-show-russias-invasion-of-ukraine-has-changed-global-oil.html%23%3A~%3Atext%3DRussia%27s%2520invasion%2520of%2520Ukraine%2520has%2520altered%2520the%2520global%2520oil%2520trade%2Cnations%2520including%2520India%2520and%2520China.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-165"><a href="#cite_ref-165">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.reuters.com/business/energy/opec-jmmc-agrees-oil-output-cuts-2-mln-bpd-sources-2022-10-05/">"OPEC+ JMMC agrees oil output cuts of 2 mln bpd – sources"</a>. <a href="/wiki/Reuters" title="Reuters">Reuters</a>. 5 October 2022. 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Archived from <a rel="nofollow" class="external text" href="https://www.washingtonpost.com/business/energy/why-nopec-keeps-arising-as-a-us-answer-to-opec/2022/10/07/5f36eede-465d-11ed-be17-89cbe6b8c0a5_story.html">the original</a> on 8 April 2023. 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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"> </li> <li id="cite_note-210"><a href="#cite_ref-210">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.opec.org/opec_web/en/publications/338.htm">"Monthly Oil Market Report"</a>. OPEC. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20151227170559/http://www.opec.org/opec_web/en/publications/338.htm">Archived</a> from the original on 27 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=Monthly+Oil+Market+Report&rft_id=http%3A%2F%2Fwww.opec.org%2Fopec_web%2Fen%2Fpublications%2F338.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-211"><a href="#cite_ref-211">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.opec.org/opec_web/en/76.htm">"OPEC Bulletin"</a>. OPEC. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20160105070452/http://www.opec.org/opec_web/en/76.htm">Archived</a> from the original on 5 January 2016. 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Retrieved 6 April 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=BBC+News&rft.atitle=Oil+markets+explained&rft.date=2007-10-18&rft_id=http%3A%2F%2Fnews.bbc.co.uk%2F2%2Fhi%2Fbusiness%2F904748.stm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"> </li> <li id="cite_note-213"><a href="#cite_ref-213">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRazavi1989" class="citation book cs1">Razavi, Hossein (April 1989). <a rel="nofollow" class="external text" href="http://documents.worldbank.org/curated/en/603911468739482147/pdf/multi-page.pdf">The new era of petroleum trading: spot-oil, spot-related contracts, and futures markets</a> (PDF). 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OPEC. <a rel="nofollow" class="external text" href="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 4 February 2021.</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"> </li> <li id="cite_note-215"><a href="#cite_ref-215">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="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/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"> </li> <li id="cite_note-216"><a href="#cite_ref-216">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation journal cs1"><a rel="nofollow" class="external text" href="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="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"> </li> <li id="cite_note-217"><a href="#cite_ref-217">^</a> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation journal cs1"><a rel="nofollow" class="external text" href="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/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"> </li> </ol></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2>[<a href="/w/index.php?title=OPEC&action=edit&section=35" title="Edit section: Further reading">edit</a>]</div> <style data-mw-deduplicate="TemplateStyles:r1239549316">.mw-parser-output .refbegin{margin-bottom:0.5em}.mw-parser-output .refbegin-hanging-indents>ul{margin-left:0}.mw-parser-output .refbegin-hanging-indents>ul>li{margin-left:0;padding-left:3.2em;text-indent:-3.2em}.mw-parser-output .refbegin-hanging-indents ul,.mw-parser-output .refbegin-hanging-indents ul li{list-style:none}@media(max-width:720px){.mw-parser-output .refbegin-hanging-indents>ul>li{padding-left:1.6em;text-indent:-1.6em}}.mw-parser-output .refbegin-columns{margin-top:0.3em}.mw-parser-output .refbegin-columns ul{margin-top:0}.mw-parser-output .refbegin-columns li{page-break-inside:avoid;break-inside:avoid-column}@media screen{.mw-parser-output .refbegin{font-size:90%}}</style><div class="refbegin refbegin-columns references-column-width" style="column-width: 30em"> <ul><li>Ansari, Dawud. (2017) "OPEC, Saudi Arabia, and the shale revolution: Insights from equilibrium modelling and oil politics." Energy Policy 111 (2017): 166–178. <a rel="nofollow" class="external text" href="https://mpra.ub.uni-muenchen.de/82613/1/MPRA_paper_82613.pdf">online</a></li> <li>Claes, Dag Harald, and Giuliano Garavini eds. (2019) Handbook of OPEC and the Global Energy Order: Past, Present and Future Challenges (Routledge 2019) <a rel="nofollow" class="external text" href="https://www.amazon.com/Handbook-OPEC-Global-Energy-Order/dp/0367195658/">excerpt</a></li> <li>Colgan, Jeff D. (2014) "The emperor has no clothes: The limits of OPEC in the global oil market." International Organization 68.3 (2014): 599–632. <a rel="nofollow" class="external text" href="http://www.ourenergypolicy.org/wp-content/uploads/2013/08/OPEC-Colgan.2013Mar.Copyedit-IO.pdf">online</a></li> <li>Dudley, Bob. (2019) "BP energy outlook." Report–BP Energy Economics–London: UK 9 (2019) <a rel="nofollow" class="external text" href="https://vcmstudy.ir/wp-content/uploads/2017/04/bp-energy-outlook-2017-presentation-slides.pdf">online</a>.</li> <li>Economou, Andreas, and Bassam Fattouh. (2021) "OPEC at 60: the world with and without OPEC." OPEC Energy Review 45.1 (2021): 3-28. <a rel="nofollow" class="external text" href="https://onlinelibrary.wiley.com/doi/pdf/10.1111/opec.12205">online</a>, a historical perspective from 1990 to 2018.</li> <li>Evans, John (1986). OPEC, Its Member States and the World Energy Market. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-8103-2148-9" title="Special:BookSources/978-0-8103-2148-9">978-0-8103-2148-9</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:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-367-28193-9" title="Special:BookSources/978-0-367-28193-9">978-0-367-28193-9</a>.</li> <li>Garavini, Giuliano. (2019). <a rel="nofollow" class="external text" href="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>Gately, Dermot. (1984) "A ten-year retrospective: OPEC and the world oil market." Journal of Economic Literature 22.3 (1984): 1100–1114. summary of scholarly literature <a rel="nofollow" class="external text" href="http://www-personal.umich.edu/~twod/oil-ns/articles/research-oil/dermot_gatley_opec_10-yr_pricing_oil_sep84.pdf">online</a></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation journal cs1">Licklider, Roy (1988). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200218111805/https://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). <a href="/wiki/International_Studies_Quarterly" title="International Studies Quarterly">International Studies Quarterly</a>. 32 (2): 205–226. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2307%2F2600627">10.2307/2600627</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2600627">2600627</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:155591645">155591645</a>. Archived from <a rel="nofollow" class="external text" href="https://pdfs.semanticscholar.org/92db/ddba23893560a127a5ec353346b5af1feeb6.pdf">the original</a> (PDF) on 18 February 2020.</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=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A155591645%23id-name%3DS2CID&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F2600627%23id-name%3DJSTOR&rft_id=info%3Adoi%2F10.2307%2F2600627&rft.aulast=Licklider&rft.aufirst=Roy&rft_id=https%3A%2F%2Fpdfs.semanticscholar.org%2F92db%2Fddba23893560a127a5ec353346b5af1feeb6.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988"></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a href="/wiki/George_Monbiot" title="George Monbiot">Monbiot, George</a> (26 June 2019). <a rel="nofollow" class="external text" href="https://www.theguardian.com/commentisfree/2019/jun/26/shell-not-green-saviour-death-machine-greenwash-oil-gas">"Shell is not a green saviour. It's a planetary death machine"</a>. <a href="/wiki/The_Guardian" title="The Guardian">The Guardian</a>. Retrieved 12 March 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Guardian&rft.atitle=Shell+is+not+a+green+saviour.+It%27s+a+planetary+death+machine&rft.date=2019-06-26&rft.aulast=Monbiot&rft.aufirst=George&rft_id=https%3A%2F%2Fwww.theguardian.com%2Fcommentisfree%2F2019%2Fjun%2F26%2Fshell-not-green-saviour-death-machine-greenwash-oil-gas&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988">[<a href="/wiki/Wikipedia:Writing_better_articles#Stay_on_topic" title="Wikipedia:Writing better articles">relevant?</a>]</li> <li>Painter, David S (2014). <a rel="nofollow" class="external text" href="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>Pickl, Matthias J. (2019) "The renewable energy strategies of oil majors–From oil to energy?." Energy Strategy Reviews 26 (2019): 100370. <a rel="nofollow" class="external text" href="https://www.sciencedirect.com/science/article/pii/S2211467X19300574">online</a></li> <li>Ratti, Ronald A., and Joaquin L. Vespignani. (2015) "OPEC and non-OPEC oil production and the global economy." Energy Economics 50 (2015): 364–378. <a rel="nofollow" class="external text" href="https://www.sciencedirect.com/science/article/pii/S0140988314003053">online</a></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:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-521-40572-0" title="Special:BookSources/978-0-521-40572-0">978-0-521-40572-0</a> <a rel="nofollow" class="external text" href="https://archive.org/details/opectwentyfiveye00skee">online</a></li> <li>Van de Graaf, Thijs. (2020) "Is OPEC dead? Oil exporters, the Paris agreement and the transition to a post-carbon world." in Beyond market assumptions: Oil price as a global institution (Springer, Cham, 2020) pp. 63–77. <a rel="nofollow" class="external text" href="https://biblio.ugent.be/publication/8137111/file/8137112.pdf">online</a></li> <li>Wight, David M. Oil Money: Middle East Petrodollars and the Transformation of US Empire, 1967-1988 (Cornell University Press, 20210 <a rel="nofollow" class="external text" href="https://issforum.org/to/jrt14-23">Website: rjissf.org online reviews</a></li> <li>Woolfson, Charles, and Matthias Beck. (2019) "Corporate social responsibility in the international oil industry." in Corporate social responsibility failures in the oil industry. (Routledge, 2019) pp. 1–14. <a rel="nofollow" class="external text" href="https://www.researchgate.net/profile/Charles-Woolfson/publication/333570020_Corporate_Social_Responsibility_in_the_International_Oil_Industry/links/5d922415a6fdcc2554a95f81/Corporate-Social-Responsibility-in-the-International-Oil-Industry.pdf">online</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:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-4391-1012-6" title="Special:BookSources/978-1-4391-1012-6">978-1-4391-1012-6</a> <a rel="nofollow" class="external text" href="https://archive.org/details/prizeepicquestfo0000yerg_g3v1">online</a></li> <li>Yergin, Daniel (2011). The quest : energy, security and the remaking of the modern world (2011) <a rel="nofollow" class="external text" href="https://archive.org/details/questenergysecur0000yerg">online</a></li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2>[<a href="/w/index.php?title=OPEC&action=edit&section=36" title="Edit section: External links">edit</a>]</div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 0;text-align:center}@media(min-width:500px){.mw-parser-output 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Algeria">Algeria</a></li> <li><a href="/wiki/Economy_of_Equatorial_Guinea" title="Economy of Equatorial Guinea">Equatorial Guinea</a></li> <li><a href="/wiki/Economy_of_Gabon" title="Economy of Gabon">Gabon</a></li> <li><a href="/wiki/Economy_of_Iran" title="Economy of Iran">Iran</a></li> <li><a href="/wiki/Economy_of_Iraq" title="Economy of Iraq">Iraq</a></li> <li><a href="/wiki/Economy_of_Kuwait" title="Economy of Kuwait">Kuwait</a></li> <li><a href="/wiki/Economy_of_Libya" title="Economy of Libya">Libya</a></li> <li><a href="/wiki/Economy_of_Nigeria" title="Economy of Nigeria">Nigeria</a></li> <li><a href="/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="/wiki/Economy_of_Saudi_Arabia" title="Economy of Saudi Arabia">Saudi Arabia</a></li> <li><a href="/wiki/Economy_of_the_United_Arab_Emirates" title="Economy of the United Arab Emirates">United Arab Emirates</a></li> <li><a href="/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:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_secretaries_general_of_OPEC" title="List of secretaries general of OPEC">List of secretaries general</a></li> <li><a href="/wiki/OPEC_Fund_for_International_Development" title="OPEC Fund for International Development">OPEC Fund for International Development</a></li> <li><a href="/wiki/OPEC_Reference_Basket" title="OPEC Reference Basket">OPEC Reference Basket</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></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"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Heads_of_state_of_OPEC_member_states" title="Template:Heads of state of OPEC member states"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Heads_of_state_of_OPEC_member_states" title="Template talk:Heads of state of OPEC member states"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Heads_of_state_of_OPEC_member_states" title="Special:EditPage/Template:Heads of state of OPEC member states"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Heads_of_state_of_OPEC_member_states" style="font-size:114%;margin:0 4em"><a href="/wiki/Head_of_state" title="Head of state">Heads of state</a> of <a class="mw-selflink-fragment" href="#Membership">OPEC member states</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Abdelmadjid_Tebboune" title="Abdelmadjid Tebboune">Tebboune</a> (Algeria)</li> <li><a href="/wiki/Jo%C3%A3o_Louren%C3%A7o" title="João Lourenço">Lourenço</a> (Angola)</li> <li><a href="/wiki/Teodoro_Obiang_Nguema_Mbasogo" title="Teodoro Obiang Nguema Mbasogo">Obiang</a> (Equatorial Guinea)</li> <li><a href="/wiki/Brice_Clotaire_Oligui_Nguema" class="mw-redirect" title="Brice Clotaire Oligui Nguema">Oligui</a> (Gabon)</li> <li><a href="/wiki/Ali_Khamenei" title="Ali Khamenei">Khamenei</a> (Iran)</li> <li><a href="/wiki/Abdul_Latif_Rashid" title="Abdul Latif Rashid">Rashid</a> (Iraq)</li> <li><a href="/wiki/Mishal_Al-Ahmad_Al-Jaber_Al-Sabah" title="Mishal Al-Ahmad Al-Jaber Al-Sabah">Mishal</a> (Kuwait)</li> <li><a href="/wiki/Mohamed_al-Menfi" title="Mohamed al-Menfi">al-Menfi</a> (Libya)</li> <li><a href="/wiki/Bola_Tinubu" title="Bola Tinubu">Tinubu</a> (Nigeria)</li> <li><a href="/wiki/Denis_Sassou_Nguesso" title="Denis Sassou Nguesso">Sassou Nguesso</a> (Republic of the Congo)</li> <li><a href="/wiki/Salman_of_Saudi_Arabia" title="Salman of Saudi Arabia">Salman</a> (Saudi Arabia)</li> <li><a href="/wiki/Mohamed_bin_Zayed_Al_Nahyan" title="Mohamed bin Zayed Al Nahyan">Mohamed</a> (United Arab Emirates)</li> <li><a href="/wiki/Nicol%C3%A1s_Maduro" title="Nicolás Maduro">Maduro</a> (Venezuela)</li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" 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href="/wiki/Ministry_of_Energy_(Russia)" title="Ministry of Energy (Russia)">Ministry of Energy</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Sources</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Coal_in_Russia" title="Coal in Russia">Coal</a></li> <li><a href="/wiki/Geothermal_power_in_Russia" title="Geothermal power in Russia">Geothermal</a></li> <li><a href="/wiki/Hydroelectricity_in_Russia" title="Hydroelectricity in Russia">Hydroelectric</a></li> <li><a href="/wiki/Liquefied_natural_gas_industry_in_Russia" title="Liquefied natural gas industry in Russia">LNG industry</a></li> <li><a href="/wiki/Natural_gas_in_Russia" title="Natural gas in Russia">Natural gas</a> <ul><li><a href="/wiki/Gas_Exporting_Countries_Forum" title="Gas Exporting Countries Forum">Gas Exporting Countries Forum</a></li></ul></li> <li><a href="/wiki/Nuclear_power_in_Russia" title="Nuclear power in Russia">Nuclear</a></li> <li><a href="/wiki/Oil_industry_of_Russia" class="mw-redirect" title="Oil industry of Russia">Oil industry</a></li> <li><a href="/wiki/Oil_reserves_in_Russia" title="Oil reserves in Russia">Oil reserves</a></li> <li><a href="/wiki/Petroleum_industry_in_Russia" title="Petroleum industry in Russia">Petroleum industry</a> <ul><li><a href="/wiki/Barents_Basin" title="Barents Basin">Barents Basin</a></li> <li><a href="/wiki/List_of_oil_and_gas_fields_of_the_Barents_Sea" title="List of oil and gas fields of the Barents Sea">Barents Sea fields</a></li> <li><a href="/wiki/West_Siberian_petroleum_basin" title="West Siberian petroleum basin">West Siberia</a></li></ul></li> <li><a href="/wiki/Renewable_energy_in_Russia" title="Renewable energy in Russia">Renewable energy</a></li> <li><a href="/wiki/Solar_power_in_Russia" class="mw-redirect" title="Solar power in Russia">Solar</a></li> <li><a href="/wiki/Wind_power_in_Russia" title="Wind power in Russia">Wind</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Electricity generation</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Electricity_sector_in_Russia" title="Electricity sector in Russia">Electric power industry</a> <ul><li><a href="/wiki/Electricity_sector_in_Imperial_Russia" title="Electricity sector in Imperial Russia">in Imperial Russia</a></li></ul></li> <li><a href="/wiki/List_of_power_stations_in_Russia" title="List of power stations in Russia">List of power stations</a></li> <li><a href="/wiki/Russian_floating_nuclear_power_station" title="Russian floating nuclear power station">Russian floating nuclear power station</a></li> <li><a href="/wiki/Thermal_power_stations_in_Russia_and_Soviet_Union" class="mw-redirect" title="Thermal power stations in Russia and Soviet Union">Thermal power stations</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Energy companies</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Category:Electric_power_companies_of_Russia" title="Category:Electric power companies of Russia">Electric power companies of Russia</a></li> <li><a href="/wiki/Gazprom" title="Gazprom">Gazprom</a></li> <li><a href="/wiki/Lukoil" title="Lukoil">Lukoil</a></li> <li><a href="/wiki/Novatek" title="Novatek">Novatek</a></li> <li><a href="/wiki/Rosatom" title="Rosatom">Rosatom</a></li> <li><a href="/wiki/Rosneft" title="Rosneft">Rosneft</a></li> <li><a href="/wiki/Rosneftegaz" title="Rosneftegaz">Rosneftegaz</a></li> <li><a href="/wiki/Sakhalin_Energy" title="Sakhalin Energy">Sakhalin Energy</a></li> <li><a href="/wiki/Transneft" title="Transneft">Transneft</a></li> <li><a href="/wiki/Yamal_LNG" title="Yamal LNG">Yamal LNG</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Energy_diplomacy" title="Energy diplomacy">Politics</a> and disputes (before <a href="/wiki/Russian_invasion_of_Ukraine" title="Russian invasion of Ukraine">2022 invasion</a>)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Energy_policy_of_Russia" title="Energy policy of Russia">Energy policy of Russia</a> <ul><li><a href="/wiki/Energy_policy_of_the_Soviet_Union" title="Energy policy of the Soviet Union">Soviet Union</a></li></ul></li> <li><a class="mw-selflink selflink">OPEC</a> <ul><li><a href="/wiki/Russia%E2%80%93Saudi_Arabia_relations" title="Russia–Saudi Arabia relations">Russia–Saudi Arabia relations</a></li></ul></li> <li><a href="/wiki/China%E2%80%93Russia_relations" title="China–Russia relations">China–Russia relations</a> <ul><li><a href="/wiki/Power_of_Siberia" title="Power of Siberia">Power of Siberia</a></li></ul></li> <li><a href="/wiki/Germany%E2%80%93Russia_relations" title="Germany–Russia relations">Germany–Russia relations</a> <ul><li><a href="/wiki/Nord_Stream_1" title="Nord Stream 1">Nord Stream 1</a></li> <li><a href="/wiki/Nord_Stream_2" title="Nord Stream 2">Nord Stream 2</a></li></ul></li> <li><a href="/wiki/Russia_in_the_European_energy_sector" title="Russia in the European energy sector">Russia in the European energy sector</a></li></ul> </div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%">Disputes over the <a href="/wiki/Arctic" title="Arctic">Arctic</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Arctic_policy_of_Russia" title="Arctic policy of Russia">Arctic policy of Russia</a></li> <li><a href="/wiki/2007_Russian_North_Pole_expedition" class="mw-redirect" title="2007 Russian North Pole expedition">2007 Russian North Pole expedition</a></li> <li><a href="/wiki/Continental_shelf_of_Russia" title="Continental shelf of Russia">Continental shelf</a></li> <li><a href="/wiki/Petroleum_exploration_in_the_Arctic" title="Petroleum exploration in the Arctic">Petroleum exploration in the Arctic</a></li> <li><a href="/wiki/Territorial_claims_in_the_Arctic" title="Territorial claims in the Arctic">Territorial claims in the Arctic</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Disputes with <a href="/wiki/Belarus" title="Belarus">Belarus</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/2004_Russia%E2%80%93Belarus_energy_dispute" title="2004 Russia–Belarus energy dispute">of 2004</a></li> <li><a href="/wiki/2007_Russia%E2%80%93Belarus_energy_dispute" title="2007 Russia–Belarus energy dispute">of 2007</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Disputes with <a href="/wiki/Georgia_(country)" title="Georgia (country)">Georgia</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/2006_Russia%E2%80%93Georgia_energy_crisis" title="2006 Russia–Georgia energy crisis">2006 Russia–Georgia energy crisis</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Disputes with <a href="/wiki/Ukraine" title="Ukraine">Ukraine</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Russia%E2%80%93Ukraine_gas_disputes" title="Russia–Ukraine gas disputes">Russia–Ukraine gas disputes</a> <ul><li><a href="/wiki/2005%E2%80%932006_Russia%E2%80%93Ukraine_gas_dispute" title="2005–2006 Russia–Ukraine gas dispute">of 2005–06</a></li> <li><a href="/wiki/2009_Russia%E2%80%93Ukraine_gas_dispute" title="2009 Russia–Ukraine gas dispute">of 2009</a></li> <li><a href="/wiki/Kharkiv_Pact" title="Kharkiv Pact">Kharkiv Pact</a></li> <li><a href="/wiki/Remember_about_the_Gas_%E2%80%93_Do_not_buy_Russian_goods!" title="Remember about the Gas – Do not buy Russian goods!">Remember about the Gas – Do not buy Russian goods!</a></li></ul></li> <li><a href="/wiki/Natural_gas_transmission_system_of_Ukraine" title="Natural gas transmission system of Ukraine">Natural gas transmission system of Ukraine</a></li></ul> </div></td></tr></tbody></table><div> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Russian_invasion_of_Ukraine" title="Russian invasion of Ukraine">Ukraine invasion</a> and <a href="/wiki/International_sanctions_during_the_Russo-Ukrainian_War" title="International sanctions during the Russo-Ukrainian War">sanctions</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/2021%E2%80%932023_global_energy_crisis" class="mw-redirect" title="2021–2023 global energy crisis">2021–2023 global energy crisis</a> <ul><li><a href="/wiki/2021%E2%80%932023_inflation_surge" title="2021–2023 inflation surge">2021–2023 inflation surge</a></li> <li><a href="/wiki/2022%E2%80%932023_food_crises" class="mw-redirect" title="2022–2023 food crises">2022–2023 food crises</a></li></ul></li> <li><a href="/wiki/2022%E2%80%932023_Russia%E2%80%93European_Union_gas_dispute" title="2022–2023 Russia–European Union gas dispute">2022–2023 Russia–European Union gas dispute</a></li> <li><a href="/wiki/Lukoil_oil_transit_dispute" title="Lukoil oil transit dispute">2024 Lukoil transit sanctions</a></li> <li><a href="/wiki/International_sanctions_during_the_Russo-Ukrainian_War" title="International sanctions during the Russo-Ukrainian War">International sanctions during the Russo-Ukrainian War</a> <ul><li><a href="/wiki/International_sanctions_during_the_Russian_invasion_of_Ukraine" title="International sanctions during the Russian invasion of Ukraine">during the invasion</a></li> <li><a href="/wiki/2022_Russian_crude_oil_price_cap_sanctions" title="2022 Russian crude oil price cap sanctions">2022 oil sanctions</a></li> <li><a href="/wiki/2023_Russian_oil_products_sanctions_and_price_cap" title="2023 Russian oil products sanctions and price cap">2023 oil sanctions</a></li> <li><a href="/wiki/EU_natural_gas_price_cap" title="EU natural gas price cap">gas price cap</a></li> <li><a href="/wiki/Countering_America%27s_Adversaries_Through_Sanctions_Act" title="Countering America's Adversaries Through Sanctions Act">CAATSA</a></li> <li><a href="/wiki/Unfriendly_countries_list" title="Unfriendly countries list">Unfriendly countries list</a></li></ul></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /><a href="/wiki/Category:Energy_in_Russia" title="Category:Energy in Russia">Category</a></li> <li><a href="/wiki/File:Symbol_portal_class.svg" class="mw-file-description" title="Portal"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/16px-Symbol_portal_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/23px-Symbol_portal_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/31px-Symbol_portal_class.svg.png 2x" data-file-width="180" data-file-height="185" /></a><a href="/wiki/Portal:Russia" title="Portal:Russia">Russia portal</a></li> <li><a href="/wiki/File:Symbol_portal_class.svg" class="mw-file-description" title="Portal"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/16px-Symbol_portal_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/23px-Symbol_portal_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/31px-Symbol_portal_class.svg.png 2x" data-file-width="180" data-file-height="185" /></a><a href="/wiki/Portal:Energy" title="Portal:Energy">Energy portal</a></li> <li><a href="/wiki/File:Symbol_portal_class.svg" class="mw-file-description" title="Portal"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/16px-Symbol_portal_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/23px-Symbol_portal_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/31px-Symbol_portal_class.svg.png 2x" data-file-width="180" data-file-height="185" /></a><a href="/wiki/Portal:Renewable_energy" title="Portal:Renewable energy">Renewable energy portal</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Petroleum_industry" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Petroleum_industry" title="Template:Petroleum industry"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Petroleum_industry" title="Template talk:Petroleum industry"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Petroleum_industry" title="Special:EditPage/Template:Petroleum industry"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Petroleum_industry" style="font-size:114%;margin:0 4em"><a href="/wiki/Petroleum_industry" title="Petroleum industry">Petroleum industry</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/Petroleum" title="Petroleum">Petroleum</a></li> <li><a href="/wiki/Primary_energy" title="Primary energy">Primary energy</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;"><a href="/wiki/Benchmark_(crude_oil)" title="Benchmark (crude oil)">Benchmarks</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Argus_Sour_Crude_Index" title="Argus Sour Crude Index">Argus Sour</a></li> <li><a href="/wiki/Bonny_Light_oil" title="Bonny Light oil">Bonny Light</a></li> <li><a href="/wiki/Brent_Crude" title="Brent Crude">Brent</a></li> <li><a href="/wiki/Dubai_Crude" title="Dubai Crude">Dubai</a></li> <li><a href="/wiki/Indian_Basket" title="Indian Basket">Indian Basket</a></li> <li><a href="/wiki/Indonesian_Crude_Price" title="Indonesian Crude Price">Indonesian</a></li> <li><a href="/wiki/Isthmus-34_Light" title="Isthmus-34 Light">Isthmus-34 Light</a></li> <li><a href="/wiki/Japan_Crude_Cocktail" title="Japan Crude Cocktail">Japan Cocktail</a></li> <li><a href="/wiki/OPEC_Reference_Basket" title="OPEC Reference Basket">OPEC Reference Basket</a></li> <li><a href="/wiki/Tapis_crude" title="Tapis crude">Tapis</a></li> <li><a href="/wiki/Urals_oil" title="Urals oil">Urals</a></li> <li><a href="/wiki/West_Texas_Intermediate" title="West Texas Intermediate">West Texas Intermediate</a></li> <li><a href="/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-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 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-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_countries_by_natural_gas_consumption" title="List of countries by natural gas consumption">Consumption</a></li> <li><a href="/wiki/List_of_countries_by_natural_gas_production" title="List of countries by natural gas production">Production</a></li> <li><a href="/wiki/List_of_countries_by_natural_gas_proven_reserves" title="List of countries by natural gas proven reserves">Reserves</a></li> <li><a href="/wiki/List_of_countries_by_natural_gas_imports" title="List of countries by natural gas imports">Imports</a></li> <li><a href="/wiki/List_of_countries_by_natural_gas_exports" title="List of countries by natural gas exports">Exports</a></li> <li><a href="/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-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_countries_by_oil_consumption" title="List of countries by oil consumption">Consumption</a></li> <li><a href="/wiki/List_of_countries_by_oil_production" title="List of countries by oil production">Production</a></li> <li><a href="/wiki/List_of_countries_by_proven_oil_reserves" title="List of countries by proven oil reserves">Reserves</a></li> <li><a href="/wiki/List_of_countries_by_oil_imports" title="List of countries by oil imports">Imports</a></li> <li><a href="/wiki/List_of_countries_by_oil_exports" title="List of countries by oil exports">Exports</a></li> <li><a href="/wiki/Posted_oil_price" title="Posted oil price">Posted oil price</a></li> <li><a href="/wiki/Price_of_oil" title="Price of oil">Price</a> <ul><li><a href="/wiki/Gasoline_and_diesel_usage_and_pricing" title="Gasoline and diesel usage and pricing">of gasoline and diesel</a></li></ul></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="/wiki/Hydrocarbon_exploration" title="Hydrocarbon exploration">Exploration</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Core_sample" title="Core sample">Core sampling</a></li> <li><a href="/wiki/Exploration_geophysics" title="Exploration geophysics">Geophysics</a></li> <li><a href="/wiki/Integrated_asset_modelling" title="Integrated asset modelling">Integrated asset modelling</a></li> <li><a href="/wiki/Petroleum_engineering" title="Petroleum engineering">Petroleum engineering</a> <ul><li><a href="/wiki/Reservoir_simulation" title="Reservoir simulation">Reservoir simulation</a></li> <li><a href="/wiki/Reservoir_modeling" title="Reservoir modeling">Reservoir modeling</a></li></ul></li> <li><a href="/wiki/Petroleum_geology" title="Petroleum geology">Petroleum geology</a></li> <li><a href="/wiki/Petrophysics" title="Petrophysics">Petrophysics</a></li> <li><a href="/wiki/Reflection_seismology" title="Reflection seismology">Reflection seismology</a> <ul><li><a href="/wiki/Seismic_inversion" title="Seismic inversion">Seismic inversion</a></li></ul></li> <li><a href="/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="/wiki/Oil_well" title="Oil well">Drilling</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Blowout_(well_drilling)" title="Blowout (well drilling)">Blowout</a></li> <li><a href="/wiki/Completion_(oil_and_gas_wells)" title="Completion (oil and gas wells)">Completion</a> <ul><li><a href="/wiki/Squeeze_job" title="Squeeze job">Squeeze job</a></li></ul></li> <li><a href="/wiki/Differential_sticking" title="Differential sticking">Differential sticking</a></li> <li><a href="/wiki/Directional_drilling" title="Directional drilling">Directional drilling</a> <ul><li><a href="/wiki/Geosteering" title="Geosteering">Geosteering</a></li></ul></li> <li><a href="/wiki/Drill_stem_test" title="Drill stem test">Drill stem test</a></li> <li><a href="/wiki/Drilling_engineering" title="Drilling engineering">Drilling engineering</a></li> <li><a href="/wiki/Drilling_fluid" title="Drilling fluid">Drilling fluid</a> <ul><li><a href="/wiki/Drilling_fluid_invasion" title="Drilling fluid invasion">invasion</a></li></ul></li> <li><a href="/wiki/Lost_circulation" title="Lost circulation">Lost circulation</a></li> <li><a href="/wiki/Measurement_while_drilling" title="Measurement while drilling">Measurement</a></li> <li><a href="/wiki/Shale_oil_extraction" title="Shale oil extraction">Shale oil extraction</a> <ul><li><a href="/wiki/Fredrik_Ljungstr%C3%B6m#Shale_oil_extraction" title="Fredrik Ljungström">Ljungström method</a></li></ul></li> <li><a href="/wiki/Tracer_use_in_the_oil_industry" title="Tracer use in the oil industry">Tracers</a></li> <li><a href="/wiki/Underbalanced_drilling" title="Underbalanced drilling">Underbalanced drilling</a></li> <li><a href="/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="/wiki/Extraction_of_petroleum" title="Extraction of petroleum">Production</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Petroleum_fiscal_regime" title="Petroleum fiscal regime">Petroleum fiscal regime</a> <ul><li><a href="/wiki/Petroleum_licensing" title="Petroleum licensing">Concessions</a></li> <li><a href="/wiki/Production_sharing_agreement" title="Production sharing agreement">Production sharing agreements</a></li></ul></li> <li><a href="/wiki/Artificial_lift" title="Artificial lift">Artificial lift</a> <ul><li><a href="/wiki/Gas_lift" title="Gas lift">Gas lift</a></li> <li><a href="/wiki/Pumpjack" title="Pumpjack">Pumpjack</a></li> <li><a href="/wiki/Submersible_pump" title="Submersible pump">Submersible pump (ESP)</a></li></ul></li> <li><a href="/wiki/Downstream_(petroleum_industry)" title="Downstream (petroleum industry)">Downstream</a></li> <li><a href="/wiki/Enhanced_oil_recovery" title="Enhanced oil recovery">Enhanced oil recovery (EOR)</a> <ul><li><a href="/wiki/Gas_reinjection" title="Gas reinjection">Gas reinjection</a></li> <li><a href="/wiki/Steam_injection_(oil_industry)" title="Steam injection (oil industry)">Steam injection</a></li></ul></li> <li><a href="/wiki/Midstream" title="Midstream">Midstream</a></li> <li><a href="/wiki/Petroleum_product" title="Petroleum product">Petroleum product</a></li> <li><a href="/wiki/Pipeline" title="Pipeline">Pipeline</a></li> <li><a href="/wiki/Oil_refinery" title="Oil refinery">Refining</a></li> <li><a href="/wiki/Upstream_(petroleum_industry)" title="Upstream (petroleum industry)">Upstream</a></li> <li><a href="/wiki/Water_injection_(oil_production)" title="Water injection (oil production)">Water injection</a></li> <li><a href="/wiki/Well_intervention" title="Well intervention">Well intervention</a></li> <li><a href="/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="/wiki/History_of_the_petroleum_industry" title="History of the petroleum industry">History</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/1967_Oil_Embargo" title="1967 Oil Embargo">1967 Oil Embargo</a></li> <li><a href="/wiki/1973_oil_crisis" title="1973 oil crisis">1973 oil crisis</a></li> <li><a href="/wiki/1979_oil_crisis" title="1979 oil crisis">1979 oil crisis</a></li> <li><a href="/wiki/1980s_oil_glut" title="1980s oil glut">1980s oil glut</a></li> <li><a href="/wiki/1990_oil_price_shock" title="1990 oil price shock">1990 oil price shock</a></li> <li><a href="/wiki/2000s_energy_crisis" title="2000s energy crisis">2000s energy crisis</a></li> <li><a href="/wiki/2010s_oil_glut" title="2010s oil glut">2010s oil glut</a></li> <li><a href="/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></li> <li><a href="/wiki/Nationalization_of_oil_supplies" title="Nationalization of oil supplies">Nationalization</a></li> <li><a href="/wiki/Gas_Exporting_Countries_Forum" title="Gas Exporting Countries Forum">GECF</a></li> <li><a class="mw-selflink selflink">OPEC</a></li> <li><a href="/wiki/Seven_Sisters_(oil_companies)" class="mw-redirect" title="Seven Sisters (oil companies)">Seven Sisters</a></li> <li><a href="/wiki/Standard_Oil" title="Standard Oil">Standard Oil</a></li> <li><a href="/wiki/History_of_the_petroleum_industry_in_Canada" title="History of the petroleum industry in Canada">Canada</a></li> <li><a href="/wiki/History_of_the_petroleum_industry_in_France" title="History of the petroleum industry in France">France</a></li> <li><a href="/wiki/History_of_the_oil_industry_in_India" title="History of the oil industry in India">India</a></li> <li><a href="/wiki/Petroleum_industry_in_Iraq" title="Petroleum industry in Iraq">Iraq</a></li> <li><a href="/wiki/History_of_the_petroleum_industry_in_Norway" title="History of the petroleum industry in Norway">Norway</a></li> <li><a href="/wiki/History_of_the_oil_industry_in_Saudi_Arabia" title="History of the oil industry in Saudi Arabia">Saudi Arabia</a></li> <li><a href="/wiki/History_of_the_petroleum_industry_in_the_United_States" title="History of the petroleum industry in the United States">United States</a></li> <li><a href="/wiki/History_of_the_Venezuelan_oil_industry" title="History of the Venezuelan oil industry">Venezuela</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-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_natural_gas_fields" title="List of natural gas fields">List of natural gas fields</a></li> <li><a href="/wiki/List_of_oil_fields" title="List of oil fields">List of oil fields</a></li> <li><a href="/wiki/Caspian_Sea" title="Caspian Sea">Caspian Sea</a></li> <li><a href="/wiki/East_Midlands_Oil_Province" title="East Midlands Oil Province">East Midlands Oil Province</a></li> <li><a href="/wiki/East_Texas_Oil_Field" title="East Texas Oil Field">East Texas</a></li> <li><a href="/wiki/Gulf_of_Mexico" title="Gulf of Mexico">Gulf of Mexico</a></li> <li><a href="/wiki/Niger_Delta#Nigerian_oil" title="Niger Delta">Niger Delta</a></li> <li><a href="/wiki/North_Sea_oil" title="North Sea oil">North Sea</a></li> <li><a href="/wiki/Permian_Basin_(North_America)" title="Permian Basin (North America)">Permian Basin</a></li> <li><a href="/wiki/Persian_Gulf" title="Persian Gulf">Persian Gulf</a></li> <li><a href="/wiki/Prudhoe_Bay_Oil_Field" title="Prudhoe Bay Oil Field">Prudhoe Bay</a></li> <li><a href="/wiki/Oil_reserves_in_Russia" title="Oil reserves in Russia">Russia</a></li> <li><a href="/wiki/Oil_reserves_in_Venezuela" title="Oil reserves in Venezuela">Venezuela</a></li> <li><a href="/wiki/Western_Canadian_Sedimentary_Basin" class="mw-redirect" 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-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_abbreviations_in_oil_and_gas_exploration_and_production" title="List of abbreviations in oil and gas exploration and production">Abbreviations</a></li> <li>Classification <ul><li><a href="/wiki/Sweet_crude_oil" title="Sweet crude oil">sweet oil</a></li> <li><a href="/wiki/Sour_crude_oil" title="Sour crude oil">sour oil</a></li></ul></li> <li><a href="/wiki/Oil_shale_gas" title="Oil shale gas">Oil shale gas</a></li> <li><a href="/wiki/Orphan_wells" title="Orphan wells">Orphan wells</a></li> <li><a href="/wiki/Peak_oil" title="Peak oil">Peak oil</a> <ul><li><a href="/wiki/Fossil_fuel_phase-out" title="Fossil fuel phase-out">fossil fuel phase-out</a></li> <li><a href="/wiki/Predicting_the_timing_of_peak_oil" title="Predicting the timing of peak oil">timing</a></li></ul></li> <li><a href="/wiki/Petrocurrency" title="Petrocurrency">Petrocurrency</a></li> <li><a href="/wiki/Petrodollar_recycling" title="Petrodollar recycling">Petrodollar recycling</a></li> <li><a href="/wiki/Petrofiction" title="Petrofiction">Petrofiction</a></li> <li><a href="/wiki/Shale_band" title="Shale band">Shale band</a></li> <li><a href="/wiki/Shale_gas" title="Shale gas">Shale gas</a></li> <li><a href="/wiki/Swing_producer" title="Swing producer">Swing producer</a></li> <li><a href="/wiki/Unconventional_(oil_and_gas)_reservoir" title="Unconventional (oil and gas) reservoir">Unconventional (oil and gas) reservoir</a> <ul><li><a href="/wiki/Heavy_crude_oil" title="Heavy crude oil">heavy crude</a></li> <li><a href="/wiki/Oil_sands" title="Oil sands">oil sands</a></li> <li><a href="/wiki/Oil_shale" title="Oil shale">oil shale</a></li> <li><a href="/wiki/Tight_oil" title="Tight oil">tight oil</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;">Companies and organisations</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 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;"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Major <a href="/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-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 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="/wiki/Big_Oil" title="Big Oil">Supermajors</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/BP" title="BP">BP</a></li> <li><a href="/wiki/Chevron_Corporation" title="Chevron Corporation">Chevron</a></li> <li><a href="/wiki/Eni" title="Eni">Eni</a></li> <li><a href="/wiki/ExxonMobil" title="ExxonMobil">ExxonMobil</a></li> <li><a href="/wiki/Shell_plc" title="Shell plc">Shell</a></li> <li><a href="/wiki/TotalEnergies" title="TotalEnergies">TotalEnergies</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; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/National_oil_company" title="National oil company">National oil companies</a></div></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Abu_Dhabi_National_Oil_Company" title="Abu Dhabi National Oil Company">Abu Dhabi National Oil Company</a></li> <li><a href="/wiki/ANCAP_(Uruguay)" title="ANCAP (Uruguay)">ANCAP</a></li> <li><a href="/wiki/Bharat_Petroleum" title="Bharat Petroleum">Bharat Petroleum</a></li> <li><a href="/wiki/China_National_Offshore_Oil_Corporation" title="China National Offshore Oil Corporation">China National Offshore Oil Corporation</a></li> <li><a href="/wiki/China_National_Petroleum_Corporation" title="China National Petroleum Corporation">China National Petroleum Corporation</a></li> <li><a href="/wiki/Ecopetrol" title="Ecopetrol">Ecopetrol</a></li> <li><a href="/wiki/Equinor" title="Equinor">Equinor</a></li> <li><a href="/wiki/Gazprom" title="Gazprom">Gazprom</a></li> <li><a href="/wiki/Hindustan_Petroleum" title="Hindustan Petroleum">Hindustan Petroleum</a></li> <li><a href="/wiki/Indian_Oil_Corporation" title="Indian Oil Corporation">Indian Oil Corporation</a></li> <li><a href="/wiki/Iraq_National_Oil_Company" title="Iraq National Oil Company">Iraq National Oil Company</a></li> <li><a href="/wiki/KazMunayGas" title="KazMunayGas">KazMunayGas</a></li> <li><a href="/wiki/Kuwait_Petroleum_Corporation" title="Kuwait Petroleum Corporation">Kuwait Petroleum Corporation</a></li> <li><a href="/wiki/Grupa_Lotos" title="Grupa Lotos">Lotos</a></li> <li><a href="/wiki/Naftogaz" title="Naftogaz">Naftogaz</a></li> <li><a href="/wiki/National_Iranian_Oil_Company" title="National Iranian Oil Company">National Iranian Oil Company</a></li> <li><a href="/wiki/National_Iranian_South_Oil_Company" title="National Iranian South Oil Company">National Iranian South Oil Company</a></li> <li><a href="/wiki/NNPC_Limited" title="NNPC Limited">NNPC Limited</a></li> <li><a href="/wiki/Oil_%26_Gas_Development_Company" title="Oil & Gas Development Company">Oil & Gas Development Company</a></li> <li><a href="/wiki/Oil_and_Natural_Gas_Corporation" title="Oil and Natural Gas Corporation">Oil and Natural Gas Corporation</a></li> <li><a href="/wiki/Orlen" title="Orlen">Orlen</a></li> <li><a href="/wiki/PDVSA" title="PDVSA">PDVSA</a></li> <li><a href="/wiki/Pemex" title="Pemex">Pemex</a></li> <li><a href="/wiki/Pertamina" title="Pertamina">Pertamina</a></li> <li><a href="/wiki/Petrobangla" title="Petrobangla">Petrobangla</a></li> <li><a href="/wiki/Petrobras" title="Petrobras">Petrobras</a></li> <li><a href="/wiki/PetroChina" title="PetroChina">PetroChina</a></li> <li><a href="/wiki/Petronas" title="Petronas">Petronas</a></li> <li><a href="/wiki/Petrovietnam" title="Petrovietnam">Petrovietnam</a></li> <li><a href="/wiki/PTT_Public_Company_Limited" title="PTT Public Company Limited">PTT Public Company Limited</a></li> <li><a href="/wiki/QatarEnergy" title="QatarEnergy">QatarEnergy</a></li> <li><a href="/wiki/Rosneft" title="Rosneft">Rosneft</a></li> <li><a href="/wiki/Saudi_Aramco" title="Saudi Aramco">Saudi Aramco</a></li> <li><a href="/wiki/Sinopec" title="Sinopec">Sinopec</a></li> <li><a href="/wiki/SOCAR" title="SOCAR">SOCAR</a></li> <li><a href="/wiki/Sonangol_Group" title="Sonangol Group">Sonangol</a></li> <li><a href="/wiki/Sonatrach" title="Sonatrach">Sonatrach</a></li> <li><a href="/wiki/TPAO" title="TPAO">TPAO</a></li> <li><a href="/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="/wiki/Energy_trading" class="mw-redirect" title="Energy trading">Energy trading</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Enron" title="Enron">Enron</a></li> <li><a href="/wiki/Glencore" title="Glencore">Glencore</a></li> <li><a href="/wiki/Gunvor" title="Gunvor">Gunvor</a></li> <li><a href="/wiki/Mercuria" title="Mercuria">Mercuria</a></li> <li><a href="/wiki/Naftiran_Intertrade" title="Naftiran Intertrade">Naftiran Intertrade</a></li> <li><a href="/wiki/Trafigura" title="Trafigura">Trafigura</a></li> <li><a href="/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;">Others</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/APA_Corporation" title="APA Corporation">APA Corporation</a></li> <li><a href="/wiki/Cenovus_Energy" title="Cenovus Energy">Cenovus Energy</a></li> <li><a href="/wiki/Cepsa" title="Cepsa">Cepsa</a></li> <li><a href="/wiki/ConocoPhillips" title="ConocoPhillips">ConocoPhillips</a></li> <li><a href="/wiki/Devon_Energy" title="Devon Energy">Devon Energy</a></li> <li><a href="/wiki/Eneos_Holdings" title="Eneos Holdings">Eneos Holdings</a></li> <li><a href="/wiki/Galp_Energia" title="Galp Energia">Galp Energia</a></li> <li><a href="/wiki/Hess_Corporation" title="Hess Corporation">Hess Corporation</a></li> <li><a href="/wiki/Husky_Energy" title="Husky Energy">Husky Energy</a></li> <li><a href="/wiki/Imperial_Oil" title="Imperial Oil">Imperial Oil</a></li> <li><a href="/wiki/Lukoil" title="Lukoil">Lukoil</a></li> <li><a href="/wiki/Marathon_Oil" title="Marathon Oil">Marathon Oil</a></li> <li><a href="/wiki/Marathon_Petroleum" title="Marathon Petroleum">Marathon Petroleum</a></li> <li><a href="/wiki/Occidental_Petroleum" title="Occidental Petroleum">Occidental Petroleum</a></li> <li><a href="/wiki/OMV" title="OMV">OMV</a></li> <li><a href="/wiki/Phillips_66" title="Phillips 66">Phillips 66</a></li> <li><a href="/wiki/Port_Harcourt_Refining_Company" title="Port Harcourt Refining Company">Port Harcourt Refining Company</a></li> <li><a href="/wiki/Reliance_Industries" title="Reliance Industries">Reliance Industries</a></li> <li><a href="/wiki/Repsol" title="Repsol">Repsol</a></li> <li><a href="/wiki/Suncor_Energy" title="Suncor Energy">Suncor Energy</a></li> <li><a href="/wiki/Sunoco" title="Sunoco">Sunoco</a></li> <li><a href="/wiki/Surgutneftegas" title="Surgutneftegas">Surgutneftegas</a></li> <li><a href="/wiki/TechnipFMC" title="TechnipFMC">TechnipFMC</a></li> <li><a href="/wiki/TNK-BP" title="TNK-BP">TNK-BP</a></li> <li><a href="/wiki/Tullow_Oil" title="Tullow Oil">Tullow Oil</a></li> <li><a href="/wiki/T%C3%BCpra%C5%9F" title="Tüpraş">Tüpraş</a></li> <li><a href="/wiki/Valero_Energy" title="Valero Energy">Valero Energy</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; line-height: 1.2em; padding: .1em 0;">Major <a href="/wiki/List_of_oilfield_service_companies" title="List of oilfield service companies">services companies</a></div></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Amec_Foster_Wheeler" title="Amec Foster Wheeler">Amec Foster Wheeler</a></li> <li><a href="/wiki/Baker_Hughes" title="Baker Hughes">Baker Hughes</a></li> <li><a href="/wiki/Cameron_International" title="Cameron International">Cameron International</a></li> <li><a href="/wiki/CGG_(company)" title="CGG (company)">CGG</a></li> <li><a href="/wiki/CH2M" title="CH2M">CH2M</a></li> <li><a href="/wiki/Chicago_Bridge_%26_Iron_Company" title="Chicago Bridge & Iron Company">Chicago Bridge & Iron Company</a></li> <li><a href="/wiki/China_Oilfield_Services" title="China Oilfield Services">China Oilfield Services</a></li> <li><a href="/wiki/Enbridge" title="Enbridge">Enbridge</a></li> <li><a href="/wiki/GE_Power" title="GE Power">GE Power</a></li> <li><a href="/wiki/Halliburton" title="Halliburton">Halliburton</a></li> <li><a href="/wiki/Nabors_Industries" title="Nabors Industries">Nabors Industries</a></li> <li><a href="/wiki/Naftiran_Intertrade" title="Naftiran Intertrade">Naftiran Intertrade</a></li> <li><a href="/wiki/NOV_Inc." title="NOV Inc.">NOV Inc.</a></li> <li><a href="/wiki/Petrofac" title="Petrofac">Petrofac</a></li> <li><a href="/wiki/Saipem" title="Saipem">Saipem</a></li> <li><a href="/wiki/Schlumberger" title="Schlumberger">Schlumberger</a></li> <li><a href="/wiki/Snam" title="Snam">Snam</a></li> <li><a href="/wiki/Subsea_7" title="Subsea 7">Subsea 7</a></li> <li><a href="/wiki/TC_Energy" title="TC Energy">TC Energy</a></li> <li><a href="/wiki/Transocean" title="Transocean">Transocean</a></li> <li><a href="/wiki/Valaris_Limited" title="Valaris Limited">Valaris Limited</a></li> <li><a href="/wiki/Weatherford_International" title="Weatherford International">Weatherford International</a></li> <li><a href="/wiki/John_Wood_Group" title="John Wood Group">John Wood Group</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;">Others</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/American_Petroleum_Institute" title="American Petroleum Institute">American Petroleum Institute</a></li> <li><a href="/wiki/Canadian_petroleum_companies" title="Canadian petroleum companies">Canadian petroleum companies</a></li> <li><a href="/wiki/Intercontinental_Exchange_Futures" title="Intercontinental Exchange Futures">Intercontinental Exchange Futures</a></li> <li><a href="/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="/wiki/International_Energy_Agency" title="International Energy Agency">International Energy Agency</a></li> <li><a href="/wiki/Society_of_Petroleum_Engineers" title="Society of Petroleum Engineers">Society of Petroleum Engineers</a></li> <li><a href="/wiki/World_Petroleum_Council" class="mw-redirect" title="World Petroleum Council">World Petroleum Council</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2" style="font-weight:bold;"><div> <ul><li><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /> <a href="/wiki/Category:Petroleum_industry" title="Category:Petroleum industry">Category</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"><style data-mw-deduplicate="TemplateStyles:r1038841319">.mw-parser-output .tooltip-dotted{border-bottom:1px dotted;cursor:help}</style></div><div role="navigation" class="navbox authority-control" aria-labelledby="Authority_control_databases_frameless&#124;text-top&#124;10px&#124;alt=Edit_this_at_Wikidata&#124;link=https&#58;//www.wikidata.org/wiki/Q7795#identifiers&#124;class=noprint&#124;Edit_this_at_Wikidata" 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 id="Authority_control_databases_frameless&#124;text-top&#124;10px&#124;alt=Edit_this_at_Wikidata&#124;link=https&#58;//www.wikidata.org/wiki/Q7795#identifiers&#124;class=noprint&#124;Edit_this_at_Wikidata" style="font-size:114%;margin:0 4em"><a href="/wiki/Help:Authority_control" title="Help:Authority control">Authority control databases</a> <a href="https://www.wikidata.org/wiki/Q7795#identifiers" title="Edit this at Wikidata"><img alt="Edit this at Wikidata" src="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/10px-OOjs_UI_icon_edit-ltr-progressive.svg.png" decoding="async" width="10" height="10" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/15px-OOjs_UI_icon_edit-ltr-progressive.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/20px-OOjs_UI_icon_edit-ltr-progressive.svg.png 2x" data-file-width="20" data-file-height="20" /></a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">International</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"><ul><li><a rel="nofollow" class="external text" href="https://isni.org/isni/0000000123646718">ISNI</a><ul><li><a rel="nofollow" class="external text" href="https://isni.org/isni/000000012365059X">2</a></li></ul></li><li><a rel="nofollow" class="external text" href="https://viaf.org/viaf/125519550">VIAF</a></li></ul></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">National</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"><ul><li><a rel="nofollow" class="external text" href="https://d-nb.info/gnd/75351-8">Germany</a></li><li><a rel="nofollow" class="external text" href="https://id.loc.gov/authorities/n79071197">United States</a></li><li><a rel="nofollow" class="external text" href="https://catalogue.bnf.fr/ark:/12148/cb12024345m">France</a></li><li><a rel="nofollow" class="external text" href="https://data.bnf.fr/ark:/12148/cb12024345m">BnF data</a></li><li><a rel="nofollow" class="external text" href="https://id.ndl.go.jp/auth/ndlna/00639099">Japan</a></li><li><a rel="nofollow" class="external text" href="https://nla.gov.au/anbd.aut-an35401025">Australia</a></li><li><a rel="nofollow" class="external text" href="https://aleph.nkp.cz/F/?func=find-c&local_base=aut&ccl_term=ica=uk2011659074&CON_LNG=ENG">Czech Republic</a></li><li><a rel="nofollow" class="external text" href="http://catalogo.bne.es/uhtbin/authoritybrowse.cgi?action=display&authority_id=XX87122">Spain</a></li><li><a rel="nofollow" class="external text" href="http://id.bnportugal.gov.pt/aut/catbnp/85930">Portugal</a></li><li><a rel="nofollow" class="external text" href="https://authority.bibsys.no/authority/rest/authorities/html/90115574">Norway</a></li><li><a rel="nofollow" class="external text" href="http://katalog.nsk.hr/F/?func=direct&doc_number=000054695&local_base=nsk10">Croatia</a></li><li><a rel="nofollow" class="external text" href="https://dbn.bn.org.pl/descriptor-details/9810537123305606">Poland</a></li><li><a rel="nofollow" class="external text" href="http://olduli.nli.org.il/F/?func=find-b&local_base=NLX10&find_code=UID&request=987007266125405171">Israel</a></li><li><a rel="nofollow" class="external text" href="https://urn.fi/URN:NBN:fi:au:finaf:000003202">Finland</a></li><li><a rel="nofollow" class="external text" href="https://cantic.bnc.cat/registre/981058530705606706">Catalonia</a></li></ul></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Academics</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"><ul><li><a rel="nofollow" class="external text" href="https://ci.nii.ac.jp/author/DA01973270?l=en">CiNii</a></li></ul></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"><ul><li><a rel="nofollow" class="external text" href="https://www.idref.fr/111165520">IdRef</a></li></ul></div></td></tr></tbody></table></div>    </div><noscript><img src="https://login.wikimedia.org/wiki/Special:CentralAutoLogin/start?type=1x1" alt="" width="1" height="1" 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