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Follow the link for more information."><img alt="This is a good article. Follow the link for more information." src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/en/thumb/9/94/Symbol_support_vote.svg/19px-Symbol_support_vote.svg.png" width="19" height="20" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/en/thumb/9/94/Symbol_support_vote.svg/29px-Symbol_support_vote.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/en/thumb/9/94/Symbol_support_vote.svg/39px-Symbol_support_vote.svg.png 2x" data-file-width="180" data-file-height="185"/></a></div> </div> <h1 id="firstHeading" class="firstHeading" lang="en">OPEC</h1> <div id="bodyContent" class="mw-body-content"> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> <div id="contentSub"></div> <div id="jump-to-nav"></div> <a class="mw-jump-link" href="#mw-head">Jump to navigation</a> <a class="mw-jump-link" href="#p-search">Jump to search</a> <div id="mw-content-text" lang="en" dir="ltr" class="mw-content-ltr"><div class="mw-parser-output"> <table class="infobox geography vcard" style="width:22em;font-size:88%;"><tbody><tr><th colspan="2" class="adr" style="text-align:center;font-size:125%;font-weight:bold;padding:0.25em 0.33em 0.33em;line-height:1.2em;font-size:1.25em;"><div style="padding-top:0.25em;">Organization of the Petroleum Exporting Countries (OPEC)</div></th></tr><tr><td colspan="2" style="text-align:center;text-align:center;padding:0.5em 0;"> <div style="display:table; width:100%;"> <div style="display:table-cell; vertical-align:middle; padding: 0px 5px 3px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Flag_of_OPEC.svg" class="image" title="Flag of Organization of the Petroleum Exporting Countries (OPEC)"><img alt="Flag of Organization of the Petroleum Exporting Countries (OPEC)" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/d1/Flag_of_OPEC.svg/125px-Flag_of_OPEC.svg.png" width="125" height="75" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/d1/Flag_of_OPEC.svg/188px-Flag_of_OPEC.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/d/d1/Flag_of_OPEC.svg/250px-Flag_of_OPEC.svg.png 2x" data-file-width="500" data-file-height="300"/></a></div> </div> <div style="font-size:90%;">Flag</div></td></tr><tr><td colspan="2" style="text-align:center"> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:OPEC.svg" class="image" title="Location of Organization of the Petroleum Exporting Countries (OPEC)"><img alt="Location of Organization of the Petroleum Exporting Countries (OPEC)" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/68/OPEC.svg/250px-OPEC.svg.png" width="250" height="128" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/68/OPEC.svg/375px-OPEC.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/68/OPEC.svg/500px-OPEC.svg.png 2x" data-file-width="2560" data-file-height="1314"/></a></td></tr><tr><th scope="row">Headquarters</th><td> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Vienna" title="Vienna">Vienna</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Austria" title="Austria">Austria</a></td></tr><tr><th scope="row">Official language</th><td> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/English_language" title="English language">English</a></td></tr><tr><th scope="row">Type</th><td> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/International" title="International">International</a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Cartel" title="Cartel">cartel</a><a href="#cite_note-cartel-1">[1]</a></td></tr><tr><th scope="row">Membership</th><td> <div class="NavFrame collapsed" style="border: none; padding: 0;"> <div class="NavHead" style="font-size: 105%; background:transparent;text-align:left;font-weight:normal;">15 states (June 2018)<a href="#cite_note-OPEC_Member-2">[2]</a><a href="#cite_note-May2017Vienna-3">[3]</a></div> <ul class="NavContent" style="list-style: none none; margin-left: 0; text-align: left; font-size: 105%; margin-top: 0; margin-bottom: 0; line-height: inherit;"><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/23px-Flag_of_Algeria.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/35px-Flag_of_Algeria.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/45px-Flag_of_Algeria.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Algeria" title="Algeria">Algeria</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/23px-Flag_of_Angola.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/35px-Flag_of_Angola.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/45px-Flag_of_Angola.svg.png 2x" data-file-width="450" data-file-height="300"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Angola" title="Angola">Angola</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Flag_of_Ecuador.svg/23px-Flag_of_Ecuador.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Flag_of_Ecuador.svg/35px-Flag_of_Ecuador.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Flag_of_Ecuador.svg/45px-Flag_of_Ecuador.svg.png 2x" data-file-width="1440" data-file-height="960"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Ecuador" title="Ecuador">Ecuador</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/23px-Flag_of_Equatorial_Guinea.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/35px-Flag_of_Equatorial_Guinea.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/45px-Flag_of_Equatorial_Guinea.svg.png 2x" data-file-width="1200" data-file-height="800"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Equatorial_Guinea" title="Equatorial Guinea">Equatorial Guinea</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/20px-Flag_of_Gabon.svg.png" width="20" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/31px-Flag_of_Gabon.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/40px-Flag_of_Gabon.svg.png 2x" data-file-width="400" data-file-height="300"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gabon" title="Gabon">Gabon</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/23px-Flag_of_Iran.svg.png" width="23" height="13" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/35px-Flag_of_Iran.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/46px-Flag_of_Iran.svg.png 2x" data-file-width="630" data-file-height="360"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iran" title="Iran">Iran</a>* </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/23px-Flag_of_Iraq.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/35px-Flag_of_Iraq.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/45px-Flag_of_Iraq.svg.png 2x" data-file-width="411" data-file-height="274"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iraq" title="Iraq">Iraq</a>* </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/23px-Flag_of_Kuwait.svg.png" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/35px-Flag_of_Kuwait.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/46px-Flag_of_Kuwait.svg.png 2x" data-file-width="1200" data-file-height="600"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Kuwait" title="Kuwait">Kuwait</a>* </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/23px-Flag_of_Libya.svg.png" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/35px-Flag_of_Libya.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/46px-Flag_of_Libya.svg.png 2x" data-file-width="960" data-file-height="480"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Libya" title="Libya">Libya</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/23px-Flag_of_Nigeria.svg.png" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/35px-Flag_of_Nigeria.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/46px-Flag_of_Nigeria.svg.png 2x" data-file-width="800" data-file-height="400"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Nigeria" title="Nigeria">Nigeria</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/65/Flag_of_Qatar.svg/23px-Flag_of_Qatar.svg.png" width="23" height="9" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/65/Flag_of_Qatar.svg/35px-Flag_of_Qatar.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/65/Flag_of_Qatar.svg/46px-Flag_of_Qatar.svg.png 2x" data-file-width="1400" data-file-height="550"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Qatar" title="Qatar">Qatar</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/23px-Flag_of_the_Republic_of_the_Congo.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/35px-Flag_of_the_Republic_of_the_Congo.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/45px-Flag_of_the_Republic_of_the_Congo.svg.png 2x" data-file-width="600" data-file-height="400"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Republic_of_the_Congo" title="Republic of the Congo">Congo</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/23px-Flag_of_Saudi_Arabia.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/35px-Flag_of_Saudi_Arabia.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/45px-Flag_of_Saudi_Arabia.svg.png 2x" data-file-width="750" data-file-height="500"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a>* </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/23px-Flag_of_the_United_Arab_Emirates.svg.png" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/35px-Flag_of_the_United_Arab_Emirates.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/46px-Flag_of_the_United_Arab_Emirates.svg.png 2x" data-file-width="1200" data-file-height="600"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/United_Arab_Emirates" title="United Arab Emirates">United Arab Emirates</a> </li><li style="line-height: inherit; margin: 0"> <img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/23px-Flag_of_Venezuela.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/35px-Flag_of_Venezuela.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/45px-Flag_of_Venezuela.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Venezuela" title="Venezuela">Venezuela</a>* </li><li style="line-height: inherit; margin: 0"> * founding member </li></ul> </div></td></tr><tr><th colspan="2" style="text-align:center;text-align:left;">Leaders</th></tr><tr class="mergedbottomrow"><th scope="row"><div style="text-indent:-0.9em;margin-left:1.2em;font-weight:normal;">• <a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_Secretaries_General_of_OPEC" title="List of Secretaries General of OPEC">Secretary General</a></div></th><td> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Mohammed_Barkindo" title="Mohammed Barkindo">Mohammed Barkindo</a></td></tr><tr><th scope="row">Establishment</th><td> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Baghdad" title="Baghdad">Baghdad</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iraq" title="Iraq">Iraq</a></td></tr><tr class="mergedrow"><th scope="row"><div style="text-indent:-0.9em;margin-left:1.2em;font-weight:normal;">• Statute</div></th><td> September 1960</td></tr><tr class="mergedbottomrow"><th scope="row"><div style="text-indent:-0.9em;margin-left:1.2em;font-weight:normal;">• In effect</div></th><td> January 1961</td></tr><tr><th scope="row">Currency</th><td> Indexed as <a href="/web/20180804235336/https://en.wikipedia.org/wiki/United_States_dollar" title="United States dollar">USD</a> per <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Barrel_(unit)" title="Barrel (unit)">barrel</a> (<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Price_of_oil" title="Price of oil">US$/bbl</a>)</td></tr><tr><td colspan="2" style="text-align:center"> <div style="line-height:11pt">Website <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180804235336/http://www.opec.org/">OPEC.org</a></div></td></tr></tbody></table> The Organization of the Petroleum Exporting Countries (OPEC, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Help:IPA/English" title="Help:IPA/English">/ˈoʊpɛk/</a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Help:Pronunciation_respelling_key" title="Help:Pronunciation respelling key">OH-pek</a>, or OPEP in several other languages) is an <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Intergovernmental_organization" title="Intergovernmental organization">intergovernmental organization</a> of 15<a rel="nofollow" class="external text" href="https://web.archive.org/web/20180804235336/http://www.opec.org/opec_web/en/about_us/25.htm">[ref]</a> nations, founded in 1960 in <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Baghdad" title="Baghdad">Baghdad</a> by the first five members (<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iran" title="Iran">Iran</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iraq" title="Iraq">Iraq</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Kuwait" title="Kuwait">Kuwait</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a>, and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Venezuela" title="Venezuela">Venezuela</a>), and headquartered since 1965 in <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Vienna" title="Vienna">Vienna, Austria</a>. As of 2018,<a class="external text" href="//web.archive.org/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit">[update]</a> the 15 countries accounted for an estimated 44 percent of <a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_oil_production" title="List of countries by oil production">global oil production</a> and 81.5 percent of <a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves" title="List of countries by proven oil reserves">the world's "proven" oil reserves</a>, giving OPEC a major influence on <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Price_of_oil" title="Price of oil">global oil prices</a> that were previously determined by the American-dominated so-called "<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Seven_Sisters_(oil_companies)" title="Seven Sisters (oil companies)">Seven Sisters</a>” grouping of multinational oil companies. The stated mission of the organization is to "coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets, in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry."<a href="#cite_note-4">[4]</a> The organization is also a significant provider of information about the international oil market. The current OPEC members are:<a rel="nofollow" class="external text" href="https://web.archive.org/web/20180804235336/http://www.opec.org/opec_web/en/about_us/25.htm">[ref]</a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Algeria" title="Algeria">Algeria</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Angola" title="Angola">Angola</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Ecuador" title="Ecuador">Ecuador</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Equatorial_Guinea" title="Equatorial Guinea">Equatorial Guinea</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gabon" title="Gabon">Gabon</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iran" title="Iran">Iran</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iraq" title="Iraq">Iraq</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Kuwait" title="Kuwait">Kuwait</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Libya" title="Libya">Libya</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Nigeria" title="Nigeria">Nigeria</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Qatar" title="Qatar">Qatar</a>, the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Republic_of_the_Congo" title="Republic of the Congo">Republic of the Congo</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a> (the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/De_facto" title="De facto">de facto</a> leader), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/United_Arab_Emirates" title="United Arab Emirates">United Arab Emirates</a>, and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Venezuela" title="Venezuela">Venezuela</a>. <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Indonesia" title="Indonesia">Indonesia</a> is a former member. By continent, two are South American, seven African, and six are Asian (Middle East). Two-thirds of OPEC's oil production and reserves are in its six <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Middle-Eastern" class="mw-redirect" title="Middle-Eastern">Middle-Eastern</a> countries that surround the oil-rich <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Persian_Gulf" title="Persian Gulf">Persian Gulf</a>. The formation of OPEC marked a turning point toward <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Nationalization_of_oil_supplies" title="Nationalization of oil supplies">national sovereignty over natural resources</a>, and OPEC decisions have come to play a prominent role in the global oil market and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petroleum_politics" title="Petroleum politics">international relations</a>. The effect can be particularly strong when wars or <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Civil_disorders" class="mw-redirect" title="Civil disorders">civil disorders</a> lead to extended interruptions in supply. In the 1970s, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/1970s_energy_crisis" title="1970s energy crisis">restrictions in oil production</a> led to a dramatic rise in oil prices and in the revenue and wealth of OPEC, with long-lasting and far-reaching consequences for the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Global_economy" class="mw-redirect" title="Global economy">global economy</a>. In the 1980s, OPEC began setting <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Production_quota" title="Production quota">production targets</a> for its member nations; generally, when the targets are reduced, oil prices increase. This has occurred most recently from the organization's 2008 and 2016 decisions to trim oversupply. Economists often cite OPEC as a textbook example of a <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Cartel" title="Cartel">cartel</a> that cooperates to reduce <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Market_competition" class="mw-redirect" title="Market competition">market competition</a>, but one whose consultations are protected by the doctrine of <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Sovereign_immunity#International_law" title="Sovereign immunity">state immunity under international law</a>. In December 2014, "OPEC and the oil men" ranked as #3 on <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Lloyd%27s" class="mw-redirect" title="Lloyd's">Lloyd's</a> list of "the top 100 most influential people in the shipping industry".<a href="#cite_note-5">[5]</a> However, the influence of OPEC on international trade is periodically challenged by the expansion of non-OPEC energy sources, and by the recurring temptation for individual OPEC countries to exceed production ceilings[<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Wikipedia:Manual_of_Style#Technical_language" title="Wikipedia:Manual of Style">jargon</a>] and pursue conflicting self-interests. <div id="toc" class="toc"><input type="checkbox" role="button" id="toctogglecheckbox" class="toctogglecheckbox" style="display:none"/><div class="toctitle" lang="en" dir="ltr"><h2>Contents</h2><label class="toctogglelabel" for="toctogglecheckbox"></label></div> <ul> <li class="toclevel-1 tocsection-1"><a href="#Membership">1 Membership</a> <ul> <li class="toclevel-2 tocsection-2"><a href="#Current_member_countries">1.1 Current member countries</a></li> <li class="toclevel-2 tocsection-3"><a href="#Lapsed_members">1.2 Lapsed members</a></li> <li class="toclevel-2 tocsection-4"><a href="#Observers">1.3 Observers</a></li> <li class="toclevel-2 tocsection-5"><a href="#Leadership_and_decision-making">1.4 Leadership and decision-making</a></li> <li class="toclevel-2 tocsection-6"><a href="#International_cartel">1.5 International cartel</a></li> <li class="toclevel-2 tocsection-7"><a href="#Conflicts">1.6 Conflicts</a></li> </ul> </li> <li class="toclevel-1 tocsection-8"><a href="#Market_information">2 Market information</a> <ul> <li class="toclevel-2 tocsection-9"><a href="#Publications_and_research">2.1 Publications and research</a></li> <li class="toclevel-2 tocsection-10"><a href="#Crude_oil_benchmarks">2.2 Crude oil benchmarks</a></li> <li class="toclevel-2 tocsection-11"><a href="#Spare_capacity">2.3 Spare capacity</a></li> </ul> </li> <li class="toclevel-1 tocsection-12"><a href="#History_and_impact">3 History and impact</a> <ul> <li class="toclevel-2 tocsection-13"><a href="#Post-WWII_situation">3.1 Post-WWII situation</a></li> <li class="toclevel-2 tocsection-14"><a href="#1959–1960_anger_from_exporting_countries">3.2 1959–1960 anger from exporting countries</a></li> <li class="toclevel-2 tocsection-15"><a href="#1960–1975_founding_and_expansion">3.3 1960–1975 founding and expansion</a></li> <li class="toclevel-2 tocsection-16"><a href="#1973–1974_oil_embargo">3.4 1973–1974 oil embargo</a></li> <li class="toclevel-2 tocsection-17"><a href="#1975–1980_Special_Fund,_now_OFID">3.5 1975–1980 Special Fund, now OFID</a></li> <li class="toclevel-2 tocsection-18"><a href="#1975_hostage_siege">3.6 1975 hostage siege</a></li> <li class="toclevel-2 tocsection-19"><a href="#1979–1980_oil_crisis_and_1980s_oil_glut">3.7 1979–1980 oil crisis and 1980s oil glut</a></li> <li class="toclevel-2 tocsection-20"><a href="#1990–2003_ample_supply_and_modest_disruptions">3.8 1990–2003 ample supply and modest disruptions</a></li> <li class="toclevel-2 tocsection-21"><a href="#2003–2011_volatility">3.9 2003–2011 volatility</a></li> <li class="toclevel-2 tocsection-22"><a href="#2008_production_dispute">3.10 2008 production dispute</a></li> <li class="toclevel-2 tocsection-23"><a href="#2014–2017_oil_glut">3.11 2014–2017 oil glut</a></li> <li class="toclevel-2 tocsection-24"><a href="#2017-2018_production_cut">3.12 2017-2018 production cut</a></li> </ul> </li> <li class="toclevel-1 tocsection-25"><a href="#See_also">4 See also</a></li> <li class="toclevel-1 tocsection-26"><a href="#References">5 References</a></li> <li class="toclevel-1 tocsection-27"><a href="#External_links">6 External links</a></li> </ul> </div> <h2>Membership[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=1" title="Edit section: Membership">edit</a>]</h2> <div style="clear:left;"></div> <h3>Current member countries[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=2" title="Edit section: Current member countries">edit</a>]</h3> As of June 2018, OPEC has 15 member countries: six in the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Middle_East" title="Middle East">Middle East</a> (<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Western_Asia" title="Western Asia">Western Asia</a>), seven in <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Africa" title="Africa">Africa</a>, and two in <a href="/web/20180804235336/https://en.wikipedia.org/wiki/South_America" title="South America">South America</a>. According to the U.S. <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Energy_Information_Administration" title="Energy Information Administration">Energy Information Administration</a> (EIA), OPEC's combined rate of oil production (including <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Natural-gas_condensate" title="Natural-gas condensate">gas condensate</a>) represented 44 percent of the world's total in 2016,<a href="#cite_note-EIA_Production-6">[6]</a> and OPEC accounted for 81.5 percent of the world's "proven" oil reserves, including 48 percent from just the six Middle Eastern members:<a href="#cite_note-EIA_Reserves-7">[7]</a> Approval of a new member country requires agreement by three-quarters of OPEC's existing members(includes founding members also), including all five of the founders.<a href="#cite_note-statute-8">[8]</a> In October 2015, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Sudan" title="Sudan">Sudan</a> formally submitted an application to join,<a href="#cite_note-9">[9]</a> but it is not yet a member. <table class="wikitable sortable"> <tbody><tr> <th style="width:155px;">Country </th> <th style="width:90px;">Region </th> <th style="width:110px;">Membership Years<a href="#cite_note-OPEC_Member-2">[2]</a><a href="#cite_note-May2017Vienna-3">[3]</a> </th> <th style="width:90px;">Population (2016 est.)<a href="#cite_note-UN_WPP-10">[10]</a> </th> <th style="width:70px;">Area (km2)<a href="#cite_note-CIA_Area-11">[11]</a> </th> <th style="width:115px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_oil_production" title="List of countries by oil production">Oil Production</a> (bbl/day, 2016)<a href="#cite_note-bbl-12">[A]</a><a href="#cite_note-EIA_Production-6">[6]</a> </th> <th style="width:125px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves" title="List of countries by proven oil reserves">Proven Reserves</a> (<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Barrel_(unit)" title="Barrel (unit)">bbl</a>, 2016)<a href="#cite_note-bbl-12">[A]</a><a href="#cite_note-EIA_Reserves-7">[7]</a> </th></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/23px-Flag_of_Algeria.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/35px-Flag_of_Algeria.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/45px-Flag_of_Algeria.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Algeria" title="Algeria">Algeria</a> </td> <td><a href="/web/20180804235336/https://en.wikipedia.org/wiki/North_Africa" title="North Africa">North Africa</a> </td> <td>1969– </td> <td align="right">40,606,052 </td> <td align="right">2,381,740 </td> <td align="right">1,348,361 </td> <td align="right">12,200,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/23px-Flag_of_Angola.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/35px-Flag_of_Angola.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/45px-Flag_of_Angola.svg.png 2x" data-file-width="450" data-file-height="300"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Angola" title="Angola">Angola</a> </td> <td><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Southern_Africa" title="Southern Africa">Southern Africa</a> </td> <td>2007– </td> <td align="right">28,813,463 </td> <td align="right">1,246,700 </td> <td align="right">1,769,615 </td> <td align="right">8,423,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Flag_of_Ecuador.svg/23px-Flag_of_Ecuador.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Flag_of_Ecuador.svg/35px-Flag_of_Ecuador.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Flag_of_Ecuador.svg/45px-Flag_of_Ecuador.svg.png 2x" data-file-width="1440" data-file-height="960"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Ecuador" title="Ecuador">Ecuador</a> </td> <td><a href="/web/20180804235336/https://en.wikipedia.org/wiki/South_America" title="South America">South America</a> </td> <td>1973–1992, 2007– </td> <td align="right">16,385,068 </td> <td align="right">283,560 </td> <td align="right">548,421 </td> <td align="right">8,273,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/23px-Flag_of_Equatorial_Guinea.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/35px-Flag_of_Equatorial_Guinea.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/45px-Flag_of_Equatorial_Guinea.svg.png 2x" data-file-width="1200" data-file-height="800"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Equatorial_Guinea" title="Equatorial Guinea">Equatorial Guinea</a> </td> <td><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Central_Africa" title="Central Africa">Central Africa</a> </td> <td>2017– </td> <td align="right">1,221,490 </td> <td align="right">28,051 </td> <td align="right">227,000 </td> <td align="right">1,100,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/20px-Flag_of_Gabon.svg.png" width="20" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/31px-Flag_of_Gabon.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/40px-Flag_of_Gabon.svg.png 2x" data-file-width="400" data-file-height="300"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gabon" title="Gabon">Gabon</a> </td> <td>Central Africa </td> <td>1975–1995, 2016– </td> <td align="right">1,979,786 </td> <td align="right">267,667 </td> <td align="right">210,820 </td> <td align="right">2,000,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/23px-Flag_of_Iran.svg.png" width="23" height="13" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/35px-Flag_of_Iran.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/46px-Flag_of_Iran.svg.png 2x" data-file-width="630" data-file-height="360"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iran" title="Iran">Iran</a> </td> <td><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Middle_East" title="Middle East">Middle East</a> </td> <td>1960<a href="#cite_note-Founder-13">[B]</a>– </td> <td align="right">80,277,428 </td> <td align="right">1,648,000 </td> <td align="right">3,990,956 </td> <td align="right">157,530,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/23px-Flag_of_Iraq.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/35px-Flag_of_Iraq.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/45px-Flag_of_Iraq.svg.png 2x" data-file-width="411" data-file-height="274"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iraq" title="Iraq">Iraq</a> </td> <td>Middle East </td> <td>1960<a href="#cite_note-Founder-13">[B]</a>– </td> <td align="right">37,202,572 </td> <td align="right">437,072 </td> <td align="right">4,451,516 </td> <td align="right">143,069,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/23px-Flag_of_Kuwait.svg.png" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/35px-Flag_of_Kuwait.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/46px-Flag_of_Kuwait.svg.png 2x" data-file-width="1200" data-file-height="600"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Kuwait" title="Kuwait">Kuwait</a> </td> <td>Middle East </td> <td>1960<a href="#cite_note-Founder-13">[B]</a>– </td> <td align="right">4,052,584 </td> <td align="right">17,820 </td> <td align="right">2,923,825 </td> <td align="right">101,500,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/23px-Flag_of_Libya.svg.png" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/35px-Flag_of_Libya.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/46px-Flag_of_Libya.svg.png 2x" data-file-width="960" data-file-height="480"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Libya" title="Libya">Libya</a> </td> <td>North Africa </td> <td>1962– </td> <td align="right">6,293,253 </td> <td align="right">1,759,540 </td> <td align="right">384,686 </td> <td align="right">48,363,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/23px-Flag_of_Nigeria.svg.png" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/35px-Flag_of_Nigeria.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/46px-Flag_of_Nigeria.svg.png 2x" data-file-width="800" data-file-height="400"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Nigeria" title="Nigeria">Nigeria</a> </td> <td><a href="/web/20180804235336/https://en.wikipedia.org/wiki/West_Africa" title="West Africa">West Africa</a> </td> <td>1971– </td> <td align="right">185,989,640 </td> <td align="right">923,768 </td> <td align="right">1,999,885 </td> <td align="right">37,070,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/65/Flag_of_Qatar.svg/23px-Flag_of_Qatar.svg.png" width="23" height="9" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/65/Flag_of_Qatar.svg/35px-Flag_of_Qatar.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/65/Flag_of_Qatar.svg/46px-Flag_of_Qatar.svg.png 2x" data-file-width="1400" data-file-height="550"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Qatar" title="Qatar">Qatar</a> </td> <td>Middle East </td> <td>1961– </td> <td align="right">2,569,804 </td> <td align="right">11,437 </td> <td align="right">1,522,902 </td> <td align="right">25,244,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/23px-Flag_of_the_Republic_of_the_Congo.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/35px-Flag_of_the_Republic_of_the_Congo.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/45px-Flag_of_the_Republic_of_the_Congo.svg.png 2x" data-file-width="600" data-file-height="400"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Republic_of_the_Congo" title="Republic of the Congo">Republic of the Congo</a> </td> <td>Central Africa </td> <td>2018–<a href="#cite_note-14">[12]</a> </td> <td align="right">5,125,821 </td> <td align="right">342,000 </td> <td align="right">260,000 </td> <td align="right">1,600,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/23px-Flag_of_Saudi_Arabia.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/35px-Flag_of_Saudi_Arabia.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/45px-Flag_of_Saudi_Arabia.svg.png 2x" data-file-width="750" data-file-height="500"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a> </td> <td>Middle East </td> <td>1960<a href="#cite_note-Founder-13">[B]</a>– </td> <td align="right">32,275,687 </td> <td align="right">2,149,690 </td> <td align="right">10,460,710 </td> <td align="right">266,578,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/23px-Flag_of_the_United_Arab_Emirates.svg.png" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/35px-Flag_of_the_United_Arab_Emirates.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/46px-Flag_of_the_United_Arab_Emirates.svg.png 2x" data-file-width="1200" data-file-height="600"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/United_Arab_Emirates" title="United Arab Emirates">United Arab Emirates</a> </td> <td>Middle East </td> <td>1967<a href="#cite_note-UAE-15">[C]</a>– </td> <td align="right">9,269,612 </td> <td align="right">83,600 </td> <td align="right">3,106,077 </td> <td align="right">97,800,000,000 </td></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/23px-Flag_of_Venezuela.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/35px-Flag_of_Venezuela.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/45px-Flag_of_Venezuela.svg.png 2x" data-file-width="900" data-file-height="600"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Venezuela" title="Venezuela">Venezuela</a> </td> <td>South America </td> <td>1960<a href="#cite_note-Founder-13">[B]</a>– </td> <td align="right">31,568,179 </td> <td align="right">912,050 </td> <td align="right">2,276,967 </td> <td align="right">299,953,000,000 </td></tr> <tr class="sortbottom"> <th colspan="3">OPEC Total </th> <th>483,630,000 </th> <th>12,492,695 </th> <th>35,481,740 </th> <th>1,210,703,000,000 </th></tr> <tr> <th colspan="3">World Total </th> <th>7,640,908,000 </th> <th>510,072,000 </th> <th>80,622,287 </th> <th>1,650,585,000,000 </th></tr> <tr> <th colspan="3">OPEC Percent </th> <th>6.3% </th> <th>2.4% </th> <th>44% </th> <th>73% </th></tr></tbody></table> <div class="reflist" style="list-style-type: upper-alpha;"> <div class="mw-references-wrap"><ol class="references"> <li id="cite_note-bbl-12">^ <a href="#cite_ref-bbl_12-0">a</a> <a href="#cite_ref-bbl_12-1">b</a> One petroleum barrel (<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Barrel_(unit)" title="Barrel (unit)">bbl</a>) is approximately 42 U.S. gallons, or 159 liters, or 0.159 m3, varying slightly with temperature. To put the production numbers in context, a <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Oil_tanker#Size_categories" title="Oil tanker">supertanker</a> typically holds 2,000,000 barrels (320,000 m3),<a href="#cite_note-16">[13]</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-13">^ <a href="#cite_ref-Founder_13-0">a</a> <a href="#cite_ref-Founder_13-1">b</a> <a href="#cite_ref-Founder_13-2">c</a> <a href="#cite_ref-Founder_13-3">d</a> <a href="#cite_ref-Founder_13-4">e</a> The five founding members attended the first OPEC conference in September 1960. </li> <li id="cite_note-UAE-15"><a href="#cite_ref-UAE_15-0">^</a> The UAE was founded in December 1971. Its OPEC membership originated with the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Emirate_of_Abu_Dhabi" title="Emirate of Abu Dhabi">Emirate of Abu Dhabi</a>. </li> </ol></div></div> <h3>Lapsed members[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=3" title="Edit section: Lapsed members">edit</a>]</h3> <table class="wikitable sortable"> <tbody><tr> <th style="width:155px;">Country </th> <th style="width:90px;">Region </th> <th style="width:110px;">Membership Years<a href="#cite_note-OPEC_Member-2">[2]</a> </th> <th style="width:90px;">Population (2016 est.)<a href="#cite_note-UN_WPP-10">[10]</a> </th> <th style="width:70px;">Area (km2)<a href="#cite_note-CIA_Area-11">[11]</a> </th> <th style="width:115px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_oil_production" title="List of countries by oil production">Oil Production</a> (<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Barrel_(unit)" title="Barrel (unit)">bbl</a>/day, 2016)<a href="#cite_note-EIA_Production-6">[6]</a> </th> <th style="width:125px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves" title="List of countries by proven oil reserves">Proven Reserves</a> (bbl, 2016)<a href="#cite_note-EIA_Reserves-7">[7]</a> </th></tr> <tr> <td><img alt="" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Indonesia.svg/23px-Flag_of_Indonesia.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Indonesia.svg/35px-Flag_of_Indonesia.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Indonesia.svg/45px-Flag_of_Indonesia.svg.png 2x" data-file-width="450" data-file-height="300"/> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Indonesia" title="Indonesia">Indonesia</a> </td> <td>Southeast Asia </td> <td>1962–2008, Jan-Nov 2016 </td> <td align="right">261,115,456 </td> <td align="right">1,904,569 </td> <td align="right">833,667 </td> <td align="right">3,692,500,000 </td></tr></tbody></table> For countries that export petroleum at relatively low volume, their limited negotiating power as OPEC members would not necessarily justify the burdens imposed by OPEC <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Production_quota" title="Production quota">production quotas</a> and membership costs. <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Ecuador" title="Ecuador">Ecuador</a> withdrew from OPEC in December 1992, because it was unwilling to pay the annual US$2 million membership fee and felt that it needed to produce more oil than it was allowed under its OPEC quota at the time,<a href="#cite_note-Ecuador-17">[14]</a> although it rejoined in October 2007. Similar concerns prompted <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gabon" title="Gabon">Gabon</a> to suspend membership in January 1995;<a href="#cite_note-Gabon-18">[15]</a> it rejoined in July 2016. In May 2008, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Indonesia" title="Indonesia">Indonesia</a> announced that it would leave OPEC when its membership expired at the end of that year, having become a net importer of oil and being unable to meet its production quota.<a href="#cite_note-Indonesia-19">[16]</a> It rejoined the organization in January 2016,<a href="#cite_note-OPEC_Member-2">[2]</a> but announced another "temporary suspension" of its membership at year-end when OPEC requested a 5 percent production cut.<a href="#cite_note-LeavingAgain-20">[17]</a> Some commentators consider that the United States was a <a href="/web/20180804235336/https://en.wikipedia.org/wiki/De_facto" title="De facto">de facto</a> member of OPEC during its formal <a href="/web/20180804235336/https://en.wikipedia.org/wiki/History_of_Iraq_(2003%E2%80%932011)" title="History of Iraq (2003–2011)">occupation of Iraq</a>, due to its leadership of the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Coalition_Provisional_Authority" title="Coalition Provisional Authority">Coalition Provisional Authority</a> in 2003–2004.<a href="#cite_note-21">[18]</a><a href="#cite_note-22">[19]</a> But this is not borne out by the minutes of OPEC meetings, as no US representative attended in an official capacity.<a href="#cite_note-23">[20]</a><a href="#cite_note-24">[21]</a> <h3>Observers[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=4" title="Edit section: Observers">edit</a>]</h3> Since the 1980s, representatives from <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Egypt" title="Egypt">Egypt</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Mexico" title="Mexico">Mexico</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Norway" title="Norway">Norway</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Oman" title="Oman">Oman</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Russia" title="Russia">Russia</a>, and other oil-exporting nations have attended many OPEC meetings as observers. This arrangement serves as an informal mechanism for coordinating policies.<a href="#cite_note-observers-25">[22]</a> <h3>Leadership and decision-making[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=5" title="Edit section: Leadership and decision-making">edit</a>]</h3> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_(5251965558).jpg" class="image"><img alt="refer to caption" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/6e/158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_%285251965558%29.jpg/220px-158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_%285251965558%29.jpg" width="220" height="87" class="thumbimage" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/6e/158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_%285251965558%29.jpg/330px-158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_%285251965558%29.jpg 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/6e/158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_%285251965558%29.jpg/440px-158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_%285251965558%29.jpg 2x" data-file-width="1000" data-file-height="394"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:158ava_Reuni%C3%B3n_de_pa%C3%ADses_miembros_de_la_OPEP_(5251965558).jpg" class="internal" title="Enlarge"></a></div>OPEC Conference delegates at <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Swissotel" class="mw-redirect" title="Swissotel">Swissotel</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Quito" title="Quito">Quito</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Ecuador" title="Ecuador">Ecuador</a>, December 2010</div></div></div> <div role="note" class="hatnote navigation-not-searchable">See also: <a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_Secretaries_General_of_OPEC" title="List of Secretaries General of OPEC">List of Secretaries General of OPEC</a></div> The OPEC Conference is the supreme authority of the organization, and consists of delegations normally headed by the oil ministers of member countries. The chief executive of the organization is the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_Secretaries_General_of_OPEC" title="List of Secretaries General of OPEC">OPEC Secretary General</a>. The Conference ordinarily meets at the Vienna headquarters, at least twice a year and in additional extraordinary sessions when necessary. It generally operates on the principles of unanimity and "one member, one vote", with each country paying an equal membership fee into the annual budget.<a href="#cite_note-statute-8">[8]</a> However, since Saudi Arabia is by far the largest and most-profitable oil exporter in the world, with enough capacity to function as the traditional <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Swing_producer" title="Swing producer">swing producer</a> to balance the global market, it serves as "OPEC's de facto leader".<a href="#cite_note-FT2015-26">[23]</a> <h3>International cartel[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=6" title="Edit section: International cartel">edit</a>]</h3> At various times, OPEC members have displayed apparent anti-competitive <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Cartel" title="Cartel">cartel</a> behavior through the organization's agreements about oil production and price levels.<a href="#cite_note-27">[24]</a> In fact, economists often cite OPEC as a textbook example of a cartel that cooperates to reduce market competition, as in this definition from <a href="/web/20180804235336/https://en.wikipedia.org/wiki/OECD" title="OECD">OECD</a>'s Glossary of Industrial Organisation Economics and Competition Law:<a href="#cite_note-cartel-1">[1]</a> <blockquote>International commodity agreements covering products such as coffee, sugar, tin and more recently oil (OPEC: Organization of Petroleum Exporting Countries) are examples of international cartels which have publicly entailed agreements between different national governments.</blockquote> OPEC members strongly prefer to describe their organization as a modest force for market stabilization, rather than a powerful anti-competitive cartel. In its defense, the organization was founded as a counterweight against the previous "<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Seven_Sisters_(oil_companies)" title="Seven Sisters (oil companies)">Seven Sisters</a>" cartel of multinational oil companies, and non-OPEC energy suppliers have maintained enough market share for a substantial degree of worldwide competition.<a href="#cite_note-28">[25]</a> Moreover, because of an economic "<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Prisoner%27s_dilemma" title="Prisoner's dilemma">prisoner's dilemma</a>" that encourages each member nation individually to discount its price and exceed its production quota,<a href="#cite_note-29">[26]</a> widespread cheating within OPEC often erodes its ability to influence global oil prices through <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Collective_action_problem" title="Collective action problem">collective action</a>.<a href="#cite_note-30">[27]</a><a href="#cite_note-31">[28]</a> OPEC has not been involved in any disputes related to the competition rules of the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/World_Trade_Organization" title="World Trade Organization">World Trade Organization</a>, even though the objectives, actions, and principles of the two organizations diverge considerably.<a href="#cite_note-32">[29]</a> A key US District Court decision held that OPEC consultations are protected as "governmental" acts of state by the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Foreign_Sovereign_Immunities_Act" title="Foreign Sovereign Immunities Act">Foreign Sovereign Immunities Act</a>, and are therefore beyond the legal reach of US <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Competition_law" title="Competition law">competition law</a> governing "commercial" acts.<a href="#cite_note-33">[30]</a><a href="#cite_note-34">[31]</a> Despite popular sentiment against OPEC, legislative proposals to limit the organization's sovereign immunity, such as the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/NOPEC" class="mw-redirect" title="NOPEC">NOPEC</a> Act, have so far been unsuccessful.<a href="#cite_note-35">[32]</a> <h3>Conflicts[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=7" title="Edit section: Conflicts">edit</a>]</h3> OPEC often has difficulty agreeing on policy decisions because its member countries differ widely in their oil export capacities, production costs, reserves, geological features, population, economic development, budgetary situations, and political circumstances.<a href="#cite_note-MEES-36">[33]</a><a href="#cite_note-discordant-37">[34]</a> Indeed, over the course of market cycles, oil reserves can themselves become a source of serious conflict, instability and imbalances, in what economists call the "<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Resource_curse#Political_effects" title="Resource curse">natural resource curse</a>".<a href="#cite_note-38">[35]</a><a href="#cite_note-39">[36]</a> A further complication is that <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Religious_war" title="Religious war">religion-linked</a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_conflicts_in_the_Middle_East" class="mw-redirect" title="List of conflicts in the Middle East">conflicts in the Middle East</a> are recurring features of the geopolitical landscape for this oil-rich region.<a href="#cite_note-40">[37]</a><a href="#cite_note-41">[38]</a> Internationally important conflicts in OPEC's history have included the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Six-Day_War" title="Six-Day War">Six-Day War</a> (1967), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Yom_Kippur_War" title="Yom Kippur War">Yom Kippur War</a> (1973), a <a href="/web/20180804235336/https://en.wikipedia.org/wiki/OPEC_siege" title="OPEC siege">hostage siege directed by Palestinian militants</a> (1975), the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iranian_Revolution" title="Iranian Revolution">Iranian Revolution</a> (1979), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iran%E2%80%93Iraq_War" title="Iran–Iraq War">Iran–Iraq War</a> (1980–1988), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gulf_War" title="Gulf War">Iraqi occupation of Kuwait</a> (1990–1991), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/September_11_attacks" title="September 11 attacks">September 11 attacks</a> by mostly Saudi hijackers (2001), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/American_occupation_of_Iraq" class="mw-redirect" title="American occupation of Iraq">American occupation of Iraq</a> (2003–2011), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Conflict_in_the_Niger_Delta" title="Conflict in the Niger Delta">Conflict in the Niger Delta</a> (2004–present), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Arab_Spring" title="Arab Spring">Arab Spring</a> (2010–2012), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Libyan_Crisis" class="mw-redirect" title="Libyan Crisis">Libyan Crisis</a> (2011–present), and international <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Embargo_against_Iran" class="mw-redirect" title="Embargo against Iran">Embargo against Iran</a> (2012–2016). Although events such as these can temporarily disrupt oil supplies and elevate prices, the frequent disputes and instabilities tend to limit OPEC's long-term cohesion and effectiveness.<a href="#cite_note-42">[39]</a> <h2>Market information[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=8" title="Edit section: Market information">edit</a>]</h2> As one area in which OPEC members have been able to cooperate productively over the decades, the organization has significantly improved the quality and quantity of information available about the international oil market. This is especially helpful for a natural-resource industry whose smooth functioning requires months and years of careful planning. <h3>Publications and research[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=9" title="Edit section: Publications and research">edit</a>]</h3> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Jodi-circle-logo.png" class="image"><img alt="refer to caption" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Jodi-circle-logo.png/220px-Jodi-circle-logo.png" width="220" height="220" class="thumbimage" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Jodi-circle-logo.png/330px-Jodi-circle-logo.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Jodi-circle-logo.png/440px-Jodi-circle-logo.png 2x" data-file-width="1042" data-file-height="1042"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Jodi-circle-logo.png" class="internal" title="Enlarge"></a></div>Logo for <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Joint_Organisations_Data_Initiative" title="Joint Organisations Data Initiative">JODI</a>, in which OPEC is a founding member</div></div></div> In April 2001, OPEC collaborated with five other international organizations (<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Asia-Pacific_Economic_Cooperation" title="Asia-Pacific Economic Cooperation">APEC</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Eurostat" title="Eurostat">Eurostat</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/International_Energy_Agency" title="International Energy Agency">IEA</a>, <a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=Latin_American_Energy_Organization&action=edit&redlink=1" class="new" title="Latin American Energy Organization (page does not exist)">OLADE</a> (<a href="https://web.archive.org/web/20180804235336/https://es.wikipedia.org/wiki/Organizaci%C3%B3n_Latinoamericana_de_Energ%C3%ADa" class="extiw" title="es:Organización Latinoamericana de Energía">es</a>), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/United_Nations_Statistics_Division" title="United Nations Statistics Division">UNSD</a>) to improve the availability and reliability of oil data. They launched the Joint Oil Data Exercise, which in 2005 was joined by <a href="/web/20180804235336/https://en.wikipedia.org/wiki/International_Energy_Forum" title="International Energy Forum">IEF</a> and renamed the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Joint_Organisations_Data_Initiative" title="Joint Organisations Data Initiative">Joint Organisations Data Initiative</a> (JODI), covering more than 90 percent of the global oil market. <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gas_Exporting_Countries_Forum" title="Gas Exporting Countries Forum">GECF</a> joined as an eighth partner in 2014, enabling JODI also to cover nearly 90 percent of the global market for natural gas.<a href="#cite_note-43">[40]</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-44">[41]</a> OPEC also produces an "Annual Statistical Bulletin" (ASB),<a href="#cite_note-ASB-45">[42]</a> and publishes more-frequent updates in its "Monthly Oil Market Report" (MOMR)<a href="#cite_note-46">[43]</a> and "OPEC Bulletin".<a href="#cite_note-47">[44]</a> <h3>Crude oil benchmarks[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=10" title="Edit section: Crude oil benchmarks">edit</a>]</h3> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Crudes.PNG" class="image"><img alt="refer to caption" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/eb/Crudes.PNG/220px-Crudes.PNG" width="220" height="242" class="thumbimage" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/eb/Crudes.PNG/330px-Crudes.PNG 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/eb/Crudes.PNG/440px-Crudes.PNG 2x" data-file-width="459" data-file-height="504"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Crudes.PNG" class="internal" title="Enlarge"></a></div><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Sulfur" title="Sulfur">Sulfur</a> content and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/API_gravity" title="API gravity">API gravity</a> of different types of crude oil</div></div></div> <div role="note" class="hatnote navigation-not-searchable">See also: <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Benchmark_(crude_oil)" title="Benchmark (crude oil)">Benchmark (crude oil)</a></div> A "crude oil benchmark" is a standardized <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petroleum#Classification" title="Petroleum">petroleum</a> product that serves as a convenient reference price for buyers and sellers of crude oil, including standardized contracts in major <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Futures_markets" class="mw-redirect" title="Futures markets">futures markets</a> since 1983. Benchmarks are used because oil prices differ (usually by a few dollars per barrel) based on variety, grade, delivery date and location, and other legal requirements.<a href="#cite_note-48">[45]</a><a href="#cite_note-49">[46]</a> The <a href="/web/20180804235336/https://en.wikipedia.org/wiki/OPEC_Reference_Basket" title="OPEC Reference Basket">OPEC Reference Basket of Crudes</a> has been an important benchmark for oil prices since 2000. It is calculated as a <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Weighted_average" class="mw-redirect" title="Weighted average">weighted average</a> of prices for petroleum blends from the OPEC member countries: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE), and Merey (Venezuela).<a href="#cite_note-basket-50">[47]</a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Brent_Crude" title="Brent Crude">North Sea Brent Crude Oil</a> is the leading benchmark for Atlantic basin crude oils, and is used to price approximately two-thirds of the world's traded crude oil. Other well-known benchmarks are <a href="/web/20180804235336/https://en.wikipedia.org/wiki/West_Texas_Intermediate" title="West Texas Intermediate">West Texas Intermediate</a> (WTI), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Dubai_Crude" title="Dubai Crude">Dubai Crude</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/DME_Oman_Crude_Oil_Futures_Contract" title="DME Oman Crude Oil Futures Contract">Oman Crude</a>, and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Urals_oil" title="Urals oil">Urals oil</a>.<a href="#cite_note-51">[48]</a> <h3>Spare capacity[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=11" title="Edit section: Spare capacity">edit</a>]</h3> The US Energy Information Administration, the statistical arm of the US Department of Energy, defines spare capacity for crude oil market management "as the volume of production that can be brought on within 30 days and sustained for at least 90 days... OPEC spare capacity provides an indicator of the world oil market's ability to respond to potential crises that reduce oil supplies."<a href="#cite_note-EIA_2014-52">[49]</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-53">[50]</a> By November 2015, the IEA changed its assessment "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-54">[51]</a> <h2>History and impact[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=12" title="Edit section: History and impact">edit</a>]</h2> <h3>Post-WWII situation[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=13" title="Edit section: Post-WWII situation">edit</a>]</h3> In 1949, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Venezuela" title="Venezuela">Venezuela</a> and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iran" title="Iran">Iran</a> took the earliest steps in the direction of OPEC, by inviting <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iraq" title="Iraq">Iraq</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Kuwait" title="Kuwait">Kuwait</a> and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a> to improve communication among petroleum-exporting nations as the world recovered from <a href="/web/20180804235336/https://en.wikipedia.org/wiki/World_War_II" title="World War II">World War II</a>.<a href="#cite_note-open-55">[52]</a> At the time, some of the world's largest <a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_oil_fields" title="List of oil fields">oil fields</a> were just entering production in the Middle East. The United States had established the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Interstate_Oil_Compact_Commission" class="mw-redirect" title="Interstate Oil Compact Commission">Interstate Oil Compact Commission</a> to join the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Texas_Railroad_Commission" class="mw-redirect" title="Texas Railroad Commission">Texas Railroad Commission</a> in limiting overproduction. The US was simultaneously the world's largest producer and consumer of oil; and the world market was dominated by a group of <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Multinational_companies" class="mw-redirect" title="Multinational companies">multinational companies</a> known as the "<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Seven_Sisters_(oil_companies)" title="Seven Sisters (oil companies)">Seven Sisters</a>", five of which were headquartered in the US following the breakup of <a href="/web/20180804235336/https://en.wikipedia.org/wiki/John_D._Rockefeller" title="John D. Rockefeller">John D. Rockefeller</a>'s original <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Standard_Oil" title="Standard Oil">Standard Oil</a> monopoly. Oil-exporting countries were eventually motivated to form OPEC as a counterweight to this concentration of political and economic power.<a href="#cite_note-prize-56">[53]</a> <h3>1959–1960 anger from exporting countries[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=14" title="Edit section: 1959–1960 anger from exporting countries">edit</a>]</h3> In February 1959, as new supplies were becoming available, the multinational oil companies (MOCs) unilaterally reduced their posted prices for Venezuelan and Middle Eastern crude oil by 10 percent. Weeks later, the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Arab_League" title="Arab League">Arab League</a>'s first <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Arab_Petroleum_Congress" class="mw-redirect" title="Arab Petroleum Congress">Arab Petroleum Congress</a> convened in Cairo, Egypt, where the influential journalist <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Wanda_Jablonski" title="Wanda Jablonski">Wanda Jablonski</a> introduced Saudi Arabia's <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Abdullah_Tariki" title="Abdullah Tariki">Abdullah Tariki</a> to Venezuela's observer <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Juan_Pablo_P%C3%A9rez_Alfonzo" title="Juan Pablo Pérez Alfonzo">Juan Pablo Pérez Alfonzo</a>, representing the two then-largest oil-producing nations outside the United States and the Soviet Union. Both oil ministers were angered by the price cuts, and the two led their fellow delegates to establish the Maadi Pact or Gentlemen's Agreement, calling for an "Oil Consultation Commission" of exporting countries, to which MOCs should present price-change plans. Jablonski reported a marked hostility toward the West and a growing outcry against "<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Absentee_landlord" title="Absentee landlord">absentee landlordism</a>" of the MOCs, which at the time controlled all oil operations within the exporting countries and wielded enormous political influence. In August 1960, ignoring the warnings, and with the US favoring Canadian and Mexican oil for strategic reasons, the MOCs again unilaterally announced significant cuts in their posted prices for Middle Eastern crude oil.<a href="#cite_note-open-55">[52]</a><a href="#cite_note-prize-56">[53]</a><a href="#cite_note-57">[54]</a><a href="#cite_note-58">[55]</a> <h3>1960–1975 founding and expansion[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=15" title="Edit section: 1960–1975 founding and expansion">edit</a>]</h3> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg" class="image"><img alt="refer to caption" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg/220px-Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg" width="220" height="165" class="thumbimage" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg/330px-Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg/440px-Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg 2x" data-file-width="3664" data-file-height="2742"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Opec_Geb%C3%A4ude_Wien_Helferstorferstra%C3%9Fe_17.jpg" class="internal" title="Enlarge"></a></div>OPEC headquarters in Vienna (2009 building)</div></div></div> The following month, during 10–14 September 1960, the Baghdad Conference was held at the initiative of Tariki, Pérez Alfonzo, and Iraqi prime minister <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Abd_al-Karim_Qasim" title="Abd al-Karim Qasim">Abd al-Karim Qasim</a>, whose country had skipped the 1959 congress.<a href="#cite_note-59">[56]</a> Government representatives from Iran, Iraq, Kuwait, Saudi Arabia and Venezuela met in <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Baghdad" title="Baghdad">Baghdad</a> to discuss ways to increase the price of crude oil produced by their countries, and ways to respond to unilateral actions by the MOCs. Despite strong US opposition: "Together with Arab and non-Arab producers, Saudi Arabia formed the Organization of Petroleum Export Countries (OPEC) to secure the best price available from the major oil corporations."<a href="#cite_note-60">[57]</a> The Middle Eastern members originally called for OPEC headquarters to be in Baghdad or Beirut, but Venezuela argued for a neutral location, and so the organization chose <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Geneva" title="Geneva">Geneva</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Switzerland" title="Switzerland">Switzerland</a>. On 1 September 1965, OPEC moved to <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Vienna" title="Vienna">Vienna</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Austria" title="Austria">Austria</a>, after Switzerland declined to extend <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Diplomatic_privileges" class="mw-redirect" title="Diplomatic privileges">diplomatic privileges</a>.<a href="#cite_note-61">[58]</a> During 1961–1975, the five founding nations were joined by <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Qatar" title="Qatar">Qatar</a> (1961), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Indonesia" title="Indonesia">Indonesia</a> (1962–2008, rejoined 2014-2016), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Libya" title="Libya">Libya</a> (1962), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/United_Arab_Emirates" title="United Arab Emirates">United Arab Emirates</a> (originally just the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Emirate_of_Abu_Dhabi" title="Emirate of Abu Dhabi">Emirate of Abu Dhabi</a>, 1967), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Algeria" title="Algeria">Algeria</a> (1969), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Nigeria" title="Nigeria">Nigeria</a> (1971), <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Ecuador" title="Ecuador">Ecuador</a> (1973–1992, rejoined 2007), and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gabon" title="Gabon">Gabon</a> (1975–1994, rejoined 2016).<a href="#cite_note-OPEC_Member-2">[2]</a> By the early 1970s, OPEC's membership accounted for more than half of worldwide oil production.<a href="#cite_note-MarketShare-62">[59]</a> Indicating that OPEC is not averse to further expansion, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Mohammed_Barkindo" title="Mohammed Barkindo">Mohammed Barkindo</a>, OPEC's Acting Secretary General in 2006, urged his African neighbors Angola and Sudan to join,<a href="#cite_note-63">[60]</a> and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Angola" title="Angola">Angola</a> did in 2007, followed by <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Equatorial_Guinea" title="Equatorial Guinea">Equatorial Guinea</a> in 2017.<a href="#cite_note-May2017Vienna-3">[3]</a> Since the 1980s, representatives from Egypt, Mexico, Norway, Oman, Russia, and other oil-exporting nations have attended many OPEC meetings as observers, as an informal mechanism for coordinating policies.<a href="#cite_note-observers-25">[22]</a> <h3>1973–1974 oil embargo[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=16" title="Edit section: 1973–1974 oil embargo">edit</a>]</h3> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg" class="image"><img alt="refer to caption" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/01/GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg/220px-GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg" width="220" height="149" class="thumbimage" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/01/GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg/330px-GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/01/GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg/440px-GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg 2x" data-file-width="2000" data-file-height="1359"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:GASOLINE_SHORTAGE_HIT_THE_STATE_OF_OREGON_IN_THE_FALL_OF_1973_BY_MIDDAY_GASOLINE_WAS_BECOMING_UNAVAILABLE_ALONG..._-_NARA_-_555405.jpg" class="internal" title="Enlarge"></a></div>An undersupplied US gasoline station, closed during the oil embargo in 1973</div></div></div> <div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/web/20180804235336/https://en.wikipedia.org/wiki/1973_oil_crisis" title="1973 oil crisis">1973 oil crisis</a></div> In October 1973, the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Organization_of_Arab_Petroleum_Exporting_Countries" title="Organization of Arab Petroleum Exporting Countries">Organization of Arab Petroleum Exporting Countries</a> (OAPEC, consisting of the Arab majority of OPEC plus Egypt and Syria) declared significant production cuts and an oil <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Embargo" class="mw-redirect" title="Embargo">embargo</a> against the United States and other industrialized nations that supported Israel in the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Yom_Kippur_War" title="Yom Kippur War">Yom Kippur War</a>.<a href="#cite_note-64">[61]</a><a href="#cite_note-Maugeri2006-65">[62]</a> A <a href="/web/20180804235336/https://en.wikipedia.org/wiki/1967_Oil_Embargo" title="1967 Oil Embargo">previous embargo attempt</a> was largely ineffective in response to the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Six-Day_War" title="Six-Day War">Six-Day War</a> in 1967.<a href="#cite_note-66">[63]</a> However, in 1973, the result was a sharp rise in oil prices and OPEC revenues, from US$3/bbl to US$12/bbl, and an emergency period of energy <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Rationing" title="Rationing">rationing</a>, intensified by panic reactions, a declining trend in US oil production, currency devaluations,<a href="#cite_note-Maugeri2006-65">[62]</a> and a lengthy UK coal-miners dispute. For a time, the UK imposed an emergency <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Three-Day_Week" title="Three-Day Week">three-day workweek</a>.<a href="#cite_note-67">[64]</a> Seven European nations banned non-essential Sunday driving.<a href="#cite_note-68">[65]</a> US gas stations limited the amount of gasoline that could be dispensed, closed on Sundays, and restricted the days when gasoline could be purchased, based on license plate numbers.<a href="#cite_note-69">[66]</a><a href="#cite_note-70">[67]</a> Even after the embargo ended in March 1974 following intense diplomatic activity, prices continued to rise. The world experienced a <a href="/web/20180804235336/https://en.wikipedia.org/wiki/1973%E2%80%9375_recession" title="1973–75 recession">global economic recession</a>, with <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Stagflation" title="Stagflation">unemployment and inflation surging simultaneously</a>, steep declines in stock and bond prices, major shifts in <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Trade_balance" class="mw-redirect" title="Trade balance">trade balances</a> and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petrodollar_recycling" title="Petrodollar recycling">petrodollar flows</a>, and a dramatic end to the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Post%E2%80%93World_War_II_economic_expansion" title="Post–World War II economic expansion">post-WWII economic boom</a>.<a href="#cite_note-71">[68]</a><a href="#cite_note-72">[69]</a> The 1973–1974 oil embargo had lasting effects on the United States and other industrialized nations, which established the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/International_Energy_Agency" title="International Energy Agency">International Energy Agency</a> in response, as well as national <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Global_strategic_petroleum_reserves" title="Global strategic petroleum reserves">emergency stockpiles</a> designed to withstand months of future supply disruptions. Oil <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Energy_conservation" title="Energy conservation">conservation</a> efforts included lower <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Speed_limit" title="Speed limit">speed limits</a> on highways, smaller and more <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Efficient_energy_use" title="Efficient energy use">energy-efficient</a> cars and appliances, year-round <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Daylight_saving_time" title="Daylight saving time">daylight saving time</a>, reduced usage of <a href="/web/20180804235336/https://en.wikipedia.org/wiki/HVAC" title="HVAC">heating and air-conditioning</a>, better <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Building_insulation" title="Building insulation">insulation</a>, increased support of <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Mass_transit" class="mw-redirect" title="Mass transit">mass transit</a>, and greater emphasis on <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Coal" title="Coal">coal</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Natural_gas" title="Natural gas">natural gas</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Ethanol_fuel" title="Ethanol fuel">ethanol</a>, <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Nuclear_power" title="Nuclear power">nuclear</a> and other <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Alternative_energy" title="Alternative energy">alternative energy</a> sources. These long-term efforts became effective enough that US oil consumption would rise only 11 percent during 1980–2014, while <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Real_GDP" class="mw-redirect" title="Real GDP">real GDP</a> rose 150 percent. But in the 1970s, OPEC nations demonstrated convincingly that their oil could be used as both a political and economic weapon against other nations, at least in the short term.<a href="#cite_note-Maugeri2006-65">[62]</a><a href="#cite_note-73">[70]</a><a href="#cite_note-74">[71]</a><a href="#cite_note-75">[72]</a><a href="#cite_note-76">[73]</a> <h3>1975–1980 Special Fund, now OFID[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=17" title="Edit section: 1975–1980 Special Fund, now OFID">edit</a>]</h3> <div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/web/20180804235336/https://en.wikipedia.org/wiki/OPEC_Fund_for_International_Development" title="OPEC Fund for International Development">OPEC Fund for International Development</a></div> OPEC's <a href="/web/20180804235336/https://en.wikipedia.org/wiki/International_aid" class="mw-redirect" title="International aid">international aid</a> activities date from well before the 1973–1974 oil price surge. For example, the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Kuwait_Fund_for_Arab_Economic_Development" title="Kuwait Fund for Arab Economic Development">Kuwait Fund for Arab Economic Development</a> has operated since 1961.<a href="#cite_note-77">[74]</a> In the years after 1973, as an example of so-called "<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Checkbook_diplomacy" title="Checkbook diplomacy">checkbook diplomacy</a>", certain Arab nations have been among the world's largest providers of foreign aid,<a href="#cite_note-78">[75]</a><a href="#cite_note-79">[76]</a> and OPEC added to its goals the selling of oil for the socio-economic growth of poorer nations. The OPEC Special Fund was conceived in <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Algiers,_Algeria" class="mw-redirect" title="Algiers, Algeria">Algiers, Algeria</a>, in March 1975, and was formally established the following January. "A Solemn Declaration 'reaffirmed the natural solidarity which unites OPEC countries with other developing countries in their struggle to overcome underdevelopment,' and called for measures to strengthen cooperation between these countries... [The OPEC Special Fund's] resources are additional to those already made available by OPEC states through a number of bilateral and multilateral channels."<a href="#cite_note-80">[77]</a> The Fund became an official international development agency in May 1980 and was renamed the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/OPEC_Fund_for_International_Development" title="OPEC Fund for International Development">OPEC Fund for International Development</a> (OFID),<a href="#cite_note-81">[78]</a> with Permanent Observer status at the United Nations.<a href="#cite_note-82">[79]</a> <h3>1975 hostage siege[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=18" title="Edit section: 1975 hostage siege">edit</a>]</h3> <div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/web/20180804235336/https://en.wikipedia.org/wiki/OPEC_siege" title="OPEC siege">OPEC siege</a></div> On 21 December 1975, Saudi Arabia's <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Ahmed_Zaki_Yamani" title="Ahmed Zaki Yamani">Ahmed Zaki Yamani</a>, Iran's <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Jamshid_Amuzegar" class="mw-redirect" title="Jamshid Amuzegar">Jamshid Amuzegar</a>, and the other OPEC oil ministers were taken hostage at their semi-annual conference in <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Vienna,_Austria" class="mw-redirect" title="Vienna, Austria">Vienna, Austria</a>. The attack, which killed three non-ministers, was orchestrated by a six-person team led by Venezuelan terrorist "<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Carlos_the_Jackal" title="Carlos the Jackal">Carlos the Jackal</a>", and which included <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gabriele_Kr%C3%B6cher-Tiedemann" title="Gabriele Kröcher-Tiedemann">Gabriele Kröcher-Tiedemann</a> and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Hans-Joachim_Klein" title="Hans-Joachim Klein">Hans-Joachim Klein</a>. The self-named "Arm of the Arab Revolution" group declared its goal to be the liberation of <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Palestine_(region)" title="Palestine (region)">Palestine</a>. Carlos planned to take over the conference by force and hold for ransom all eleven attending oil ministers, except for Yamani and Amuzegar who were to be executed.<a href="#cite_note-jackal-83">[80]</a> Carlos arranged bus and plane travel for his team and 42 of the original 63 hostages, with stops in <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Algiers" title="Algiers">Algiers</a> and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Tripoli" title="Tripoli">Tripoli</a>, planning to fly eventually to <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Baghdad" title="Baghdad">Baghdad</a>, where Yamani and Amuzegar were to be killed. All 30 non-Arab hostages were released in Algiers, excluding Amuzegar. Additional hostages were released at another stop in Tripoli before returning to Algiers. With only 10 hostages remaining, Carlos held a phone conversation with Algerian President <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Houari_Boum%C3%A9dienne" class="mw-redirect" title="Houari Boumédienne">Houari Boumédienne</a>, who informed Carlos that the oil ministers' deaths would result in an attack on the plane. Boumédienne must also have offered Carlos asylum at this time and possibly financial compensation for failing to complete his assignment. Carlos expressed his regret at not being able to murder Yamani and Amuzegar, then he and his comrades left the plane. All the hostages and terrorists walked away from the situation, two days after it began.<a href="#cite_note-jackal-83">[80]</a> Some time after the attack, Carlos's accomplices revealed that the operation was commanded by <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Wadie_Haddad" title="Wadie Haddad">Wadie Haddad</a>, a founder of the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Popular_Front_for_the_Liberation_of_Palestine" title="Popular Front for the Liberation of Palestine">Popular Front for the Liberation of Palestine</a>. They also claimed that the idea and funding came from an Arab president, widely thought to be <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Muammar_al-Gaddafi" class="mw-redirect" title="Muammar al-Gaddafi">Muammar al-Gaddafi</a> of Libya, itself an OPEC member. Fellow militants <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Bassam_Abu_Sharif" title="Bassam Abu Sharif">Bassam Abu Sharif</a> and Klein claimed that Carlos received and kept a ransom between US$20 million and US$50 million from "an Arab president". Carlos claimed that Saudi Arabia paid ransom on behalf of Iran, but that the money was "diverted en route and lost by the Revolution".<a href="#cite_note-jackal-83">[80]</a><a href="#cite_note-84">[81]</a> He was finally captured in 1994 and is serving life sentences for at least 16 other murders.<a href="#cite_note-85">[82]</a> <h3>1979–1980 oil crisis and 1980s oil glut[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=19" title="Edit section: 1979–1980 oil crisis and 1980s oil glut">edit</a>]</h3> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Opecrev.gif" class="image"><img alt="refer to caption" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Opecrev.gif/220px-Opecrev.gif" width="220" height="171" class="thumbimage" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Opecrev.gif/330px-Opecrev.gif 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Opecrev.gif/440px-Opecrev.gif 2x" data-file-width="1687" data-file-height="1310"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Opecrev.gif" class="internal" title="Enlarge"></a></div>Fluctuations of OPEC net oil export revenues since 1972<a href="#cite_note-86">[83]</a><a href="#cite_note-EIA2015-87">[84]</a></div></div></div> <div role="note" class="hatnote navigation-not-searchable">Main articles: <a href="/web/20180804235336/https://en.wikipedia.org/wiki/1979_oil_crisis" class="mw-redirect" title="1979 oil crisis">1979 oil crisis</a> and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/1980s_oil_glut" title="1980s oil glut">1980s oil glut</a></div> In response to a wave of <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Oil_nationalization" class="mw-redirect" title="Oil nationalization">oil nationalizations</a> and the high prices of the 1970s, industrial nations took steps to reduce their dependence on OPEC oil, especially after prices reached new peaks approaching US$40/bbl in 1979–1980<a href="#cite_note-88">[85]</a><a href="#cite_note-89">[86]</a> when the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iranian_Revolution" title="Iranian Revolution">Iranian Revolution</a> and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iran%E2%80%93Iraq_War" title="Iran–Iraq War">Iran–Iraq War</a> disrupted regional stability and oil supplies. Electric utilities worldwide switched from oil to coal, natural gas, or nuclear power;<a href="#cite_note-90">[87]</a> national governments initiated multibillion-dollar research programs to develop alternatives to oil;<a href="#cite_note-91">[88]</a><a href="#cite_note-92">[89]</a> and commercial exploration developed major non-OPEC oilfields in Siberia, Alaska, the North Sea, and the Gulf of Mexico.<a href="#cite_note-93">[90]</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-94">[91]</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-62">[59]</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-95">[92]</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-62">[59]</a> To combat falling revenue from oil sales, in 1982 Saudi Arabia pressed OPEC for audited national <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Production_quota" title="Production quota">production quotas</a> in an attempt to limit output and boost prices. When other OPEC nations failed to comply, Saudi Arabia first slashed its own production from 10 million barrels daily in 1979–1981 to just one-third of that level in 1985. When even this proved ineffective, Saudi Arabia reversed course and flooded the market with cheap oil, causing prices to fall below US$10/bbl and higher-cost producers to become unprofitable.<a href="#cite_note-Robert-94">[91]</a> Faced with increasing economic hardship (which ultimately contributed to the collapse of the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Soviet_bloc" class="mw-redirect" title="Soviet bloc">Soviet bloc</a> in 1989),<a href="#cite_note-96">[93]</a><a href="#cite_note-97">[94]</a> the "<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Free_rider_problem" class="mw-redirect" title="Free rider problem">free-riding</a>" oil exporters that had previously failed to comply with OPEC agreements finally began to limit production to shore up prices, based on painstakingly negotiated national quotas that sought to balance oil-related and economic criteria since 1986.<a href="#cite_note-Robert-94">[91]</a><a href="#cite_note-Brief_History-98">[95]</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-99">[96]</a> Generally when OPEC production targets are reduced, oil prices increase.<a href="#cite_note-EIA_2014-52">[49]</a> <h3>1990–2003 ample supply and modest disruptions[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=20" title="Edit section: 1990–2003 ample supply and modest disruptions">edit</a>]</h3> <div role="note" class="hatnote navigation-not-searchable">See also: <a href="/web/20180804235336/https://en.wikipedia.org/wiki/1990_oil_price_shock" title="1990 oil price shock">1990 oil price shock</a></div> <div class="thumb tleft"><div class="thumbinner" style="width:312px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Kuwait_burn_oilfield.png" class="image"><img alt="refer to caption" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/78/Kuwait_burn_oilfield.png/310px-Kuwait_burn_oilfield.png" width="310" height="175" class="thumbimage" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/78/Kuwait_burn_oilfield.png/465px-Kuwait_burn_oilfield.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/78/Kuwait_burn_oilfield.png/620px-Kuwait_burn_oilfield.png 2x" data-file-width="1938" data-file-height="1095"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Kuwait_burn_oilfield.png" class="internal" title="Enlarge"></a></div>One of the hundreds of <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Kuwaiti_oil_fires" title="Kuwaiti oil fires">Kuwaiti oil fires</a> set by retreating Iraqi troops in 1991<a href="#cite_note-100">[97]</a></div></div></div> <div class="thumb tright"><div class="thumbinner" style="width:472px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Brent_crude_oil_price_1988-2015.svg" class="image"><img alt="refer to caption" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/af/Brent_crude_oil_price_1988-2015.svg/470px-Brent_crude_oil_price_1988-2015.svg.png" width="470" height="218" class="thumbimage" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/af/Brent_crude_oil_price_1988-2015.svg/705px-Brent_crude_oil_price_1988-2015.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/af/Brent_crude_oil_price_1988-2015.svg/940px-Brent_crude_oil_price_1988-2015.svg.png 2x" data-file-width="1130" data-file-height="523"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Brent_crude_oil_price_1988-2015.svg" class="internal" title="Enlarge"></a></div>Fluctuations of Brent crude oil price, 1988–2015<a href="#cite_note-Brent-101">[98]</a></div></div></div> <div style="clear:both;"></div> Leading up to his August 1990 <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Invasion_of_Kuwait" title="Invasion of Kuwait">Invasion of Kuwait</a>, Iraqi President <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Saddam_Hussein" title="Saddam Hussein">Saddam Hussein</a> was pushing OPEC to end overproduction and to send oil prices higher, in order to help OPEC members financially and to accelerate rebuilding from the 1980–1988 <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iran%E2%80%93Iraq_War" title="Iran–Iraq War">Iran–Iraq War</a>.<a href="#cite_note-102">[99]</a> But these two Iraqi wars against fellow OPEC founders marked a low point in the cohesion of the organization, and oil prices subsided quickly after the short-term supply disruptions. The September 2001 <a href="/web/20180804235336/https://en.wikipedia.org/wiki/September_11_attacks" title="September 11 attacks">Al Qaeda attacks on the US</a> and the March 2003 <a href="/web/20180804235336/https://en.wikipedia.org/wiki/US_invasion_of_Iraq" class="mw-redirect" title="US invasion of Iraq">US invasion of Iraq</a> had even milder short-term impacts on oil prices, as Saudi Arabia and other exporters again cooperated to keep the world adequately supplied.<a href="#cite_note-Brent-101">[98]</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-17">[14]</a> although it rejoined in October 2007. Similar concerns prompted Gabon to suspend membership in January 1995;<a href="#cite_note-Gabon-18">[15]</a> it rejoined in July 2016.<a href="#cite_note-OPEC_Member-2">[2]</a> Iraq has remained a member of OPEC since the organization's founding, but Iraqi production was not a part of OPEC quota agreements from 1998 to 2016, due to the country's daunting political difficulties.<a href="#cite_note-ASB-45">[42]</a><a href="#cite_note-103">[100]</a> Lower demand triggered by the 1997–1998 <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Asian_financial_crisis" class="mw-redirect" title="Asian financial crisis">Asian financial crisis</a> saw the price of oil fall back to 1986 levels. After oil slumped to around US$10/bbl, joint diplomacy achieved a gradual slowing of oil production by OPEC, Mexico and Norway.<a href="#cite_note-104">[101]</a> In June 2003, the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/International_Energy_Agency" title="International Energy Agency">International Energy Agency</a> (IEA) and OPEC held their first joint workshop on energy issues. They have continued to meet regularly since then, "to collectively better understand trends, analysis and viewpoints and advance market transparency and predictability."<a href="#cite_note-105">[102]</a> <h3>2003–2011 volatility[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=21" title="Edit section: 2003–2011 volatility">edit</a>]</h3> <div role="note" class="hatnote navigation-not-searchable">See also: <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Oil_price_increases_of_2003%E2%80%932008" class="mw-redirect" title="Oil price increases of 2003–2008">Oil price increases of 2003–2008</a></div> Widespread insurgency and sabotage occurred during the 2003–2008 height of the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/History_of_Iraq_(2003%E2%80%932011)#Sabotage" title="History of Iraq (2003–2011)">American occupation of Iraq</a>, coinciding with rapidly increasing oil demand from <a href="/web/20180804235336/https://en.wikipedia.org/wiki/China" title="China">China</a> and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Commodity_market" title="Commodity market">commodity</a>-hungry investors, recurring <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Conflict_in_the_Niger_Delta" title="Conflict in the Niger Delta">violence against the Nigerian oil industry</a>, and dwindling spare capacity as a cushion against <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Peak_oil" title="Peak oil">potential shortages</a>. This combination of forces prompted a sharp rise in oil prices to levels far higher than those previously targeted by OPEC.<a href="#cite_note-106">[103]</a><a href="#cite_note-107">[104]</a><a href="#cite_note-108">[105]</a> Price volatility reached an extreme in 2008, as WTI crude oil surged to a record US$147/bbl in July and then plunged back to US$32/bbl in December, during the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Great_Recession" title="Great Recession">worst global recession since World War II</a>.<a href="#cite_note-109">[106]</a> OPEC's annual oil export revenue also set a new record in 2008, estimated around US$1 trillion, and reached similar annual rates in 2011–2014 (along with extensive <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petrodollar_recycling" title="Petrodollar recycling">petrodollar recycling</a> activity) before plunging again.<a href="#cite_note-EIA2015-87">[84]</a> By the time of the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/2011_Libyan_Civil_War" class="mw-redirect" title="2011 Libyan Civil War">2011 Libyan Civil War</a> and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Arab_Spring" title="Arab Spring">Arab Spring</a>, OPEC started issuing explicit statements to counter "excessive speculation" in oil <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Futures_markets" class="mw-redirect" title="Futures markets">futures markets</a>, blaming financial speculators for increasing volatility beyond market fundamentals.<a href="#cite_note-110">[107]</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-19">[16]</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-111">[108]</a> <h3>2008 production dispute[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=22" title="Edit section: 2008 production dispute">edit</a>]</h3> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Oil_Balance.png" class="image"><img alt="refer to caption" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/33/Oil_Balance.png/220px-Oil_Balance.png" width="220" height="100" class="thumbimage" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/33/Oil_Balance.png/330px-Oil_Balance.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/33/Oil_Balance.png/440px-Oil_Balance.png 2x" data-file-width="1800" data-file-height="820"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Oil_Balance.png" class="internal" title="Enlarge"></a></div>Countries by net oil exports (2008)</div></div></div> The differing economic needs of OPEC member states often affect the internal debates behind OPEC production quotas. Poorer members have pushed for production cuts from fellow members, to increase the price of oil and thus their own revenues.<a href="#cite_note-owen032010-112">[109]</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-113">[110]</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-114">[111]</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-115">[112]</a> On 10 September 2008, with oil prices still near US$100/bbl, a production dispute occurred when the Saudis reportedly walked out of a negotiating session where rival members voted to reduce OPEC output. Although Saudi delegates officially endorsed the new quotas, they stated anonymously that they would not observe them. <a href="/web/20180804235336/https://en.wikipedia.org/wiki/The_New_York_Times" title="The New York Times">The New York Times</a> quoted one such delegate as saying: "Saudi Arabia will meet the market's demand. We will see what the market requires and we will not leave a customer without oil. The policy has not changed."<a href="#cite_note-discordant-37">[34]</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-116">[113]</a> <h3>2014–2017 oil glut[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=23" title="Edit section: 2014–2017 oil glut">edit</a>]</h3> <div role="note" class="hatnote navigation-not-searchable">See also: <a href="/web/20180804235336/https://en.wikipedia.org/wiki/2010s_oil_glut" title="2010s oil glut">2010s oil glut</a></div> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Countries_by_Oil_Production_in_2013.svg" class="image"><img alt="refer to caption" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f9/Countries_by_Oil_Production_in_2013.svg/220px-Countries_by_Oil_Production_in_2013.svg.png" width="220" height="101" class="thumbimage" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f9/Countries_by_Oil_Production_in_2013.svg/330px-Countries_by_Oil_Production_in_2013.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f9/Countries_by_Oil_Production_in_2013.svg/440px-Countries_by_Oil_Production_in_2013.svg.png 2x" data-file-width="863" data-file-height="396"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Countries_by_Oil_Production_in_2013.svg" class="internal" title="Enlarge"></a></div>Countries by oil production (2013)</div></div></div> <div class="thumb tleft"><div class="thumbinner" style="width:222px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Top_Oil_Producing_Countries.png" class="image"><img alt="refer to caption" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Top_Oil_Producing_Countries.png/220px-Top_Oil_Producing_Countries.png" width="220" height="239" class="thumbimage" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Top_Oil_Producing_Countries.png/330px-Top_Oil_Producing_Countries.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Top_Oil_Producing_Countries.png/440px-Top_Oil_Producing_Countries.png 2x" data-file-width="681" data-file-height="741"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Top_Oil_Producing_Countries.png" class="internal" title="Enlarge"></a></div>Top oil-producing countries<a href="#cite_note-117">[114]</a> (million barrels per day, 1973–2016)</div></div></div> <div style="clear:both;"></div> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Dammam_No._7_on_March_4,_1938.jpg" class="image"><img alt="refer to caption" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/c4/Dammam_No._7_on_March_4%2C_1938.jpg/220px-Dammam_No._7_on_March_4%2C_1938.jpg" width="220" height="264" class="thumbimage" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/c4/Dammam_No._7_on_March_4%2C_1938.jpg/330px-Dammam_No._7_on_March_4%2C_1938.jpg 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/c/c4/Dammam_No._7_on_March_4%2C_1938.jpg 2x" data-file-width="350" data-file-height="420"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Dammam_No._7_on_March_4,_1938.jpg" class="internal" title="Enlarge"></a></div>Gusher well in Saudi Arabia: conventional source of OPEC production</div></div></div> <div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Frac_job_in_process.JPG" class="image"><img alt="refer to caption" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/90/Frac_job_in_process.JPG/220px-Frac_job_in_process.JPG" width="220" height="165" class="thumbimage" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/90/Frac_job_in_process.JPG/330px-Frac_job_in_process.JPG 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/9/90/Frac_job_in_process.JPG/440px-Frac_job_in_process.JPG 2x" data-file-width="3072" data-file-height="2304"/></a> <div class="thumbcaption"><div class="magnify"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/File:Frac_job_in_process.JPG" class="internal" title="Enlarge"></a></div>Shale "fracking" in the US: important new challenge to OPEC market share</div></div></div> During 2014–2015, OPEC members consistently exceeded their production ceiling, and China experienced a slowdown in economic growth. At the same time, US oil production nearly doubled from 2008 levels and approached the world-leading "<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Swing_producer" title="Swing producer">swing producer</a>" volumes of Saudi Arabia and Russia, due to the substantial long-term improvement and spread of <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Tight_oil" title="Tight oil">shale</a> "<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Fracking" class="mw-redirect" title="Fracking">fracking</a>" technology in response to the years of record oil prices. These developments led in turn to a plunge in US oil import requirements (moving closer to <a href="/web/20180804235336/https://en.wikipedia.org/wiki/U.S._energy_independence" class="mw-redirect" title="U.S. energy independence">energy independence</a>), a record volume of worldwide oil <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Inventory" title="Inventory">inventories</a>, and a collapse in oil prices that continued into early 2016.<a href="#cite_note-basketprice-116">[113]</a><a href="#cite_note-118">[115]</a><a href="#cite_note-glut-119">[116]</a> In spite of global oversupply, on 27 November 2014 in Vienna, Saudi Oil Minister <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Ali_Al-Naimi" title="Ali Al-Naimi">Ali Al-Naimi</a> blocked appeals from poorer OPEC members for production cuts to support prices. Naimi argued that the oil market should be left to rebalance itself competitively at lower price levels, strategically rebuilding OPEC's long-term market share by ending the profitability of high-cost US shale oil production.<a href="#cite_note-PriceWar-120">[117]</a> As he explained in an interview:<a href="#cite_note-MEES-36">[33]</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 war-torn Libya pumping 1 million barrels below capacity, oil producers were making major adjustments to withstand prices as low as the $40s, Indonesia was rejoining the export organization, Iraqi production had surged after years of disorder, Iranian output was poised to rebound with the lifting of <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Sanctions_against_Iran" title="Sanctions against Iran">international sanctions</a>, hundreds of world leaders at the <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Paris_Climate_Agreement" class="mw-redirect" title="Paris Climate Agreement">Paris Climate Agreement</a> were committing to limit carbon emissions from fossil fuels, and <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Solar_power#Economics" title="Solar power">solar technologies</a> were becoming steadily more competitive and prevalent. In light of all these market pressures, OPEC decided to set aside its ineffective production ceiling until the next ministerial conference in June 2016.<a href="#cite_note-FT2015-26">[23]</a><a href="#cite_note-glut-119">[116]</a><a href="#cite_note-121">[118]</a><a href="#cite_note-122">[119]</a><a href="#cite_note-123">[120]</a><a href="#cite_note-124">[121]</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-116">[113]</a> As 2016 continued, the oil glut was partially trimmed with significant production offline in the US, Canada, Libya, Nigeria and China, and the basket price gradually rose back into the $40s. OPEC regained a modest percentage of market share, saw the cancellation of many competing drilling projects, maintained the status quo at its June conference, and endorsed "prices at levels that are suitable for both producers and consumers", although many producers were still experiencing serious economic difficulties.<a href="#cite_note-June2016-125">[122]</a><a href="#cite_note-126">[123]</a><a href="#cite_note-127">[124]</a><a href="#cite_note-128">[125]</a> <h3>2017-2018 production cut[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=24" title="Edit section: 2017-2018 production cut">edit</a>]</h3> As OPEC members grew weary of a multi-year supply contest with <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Diminishing_returns" title="Diminishing returns">diminishing returns</a> and shrinking financial reserves, the organization finally attempted its first production cut since 2008. Despite many political obstacles, a September 2016 decision to trim approximately 1 million barrels per day was codified by a new quota agreement at the November 2016 OPEC conference. The agreement (which exempted disruption-ridden members Libya and Nigeria) covered the first half of 2017 – alongside promised reductions from Russia and ten other non-members, offset by expected increases in the US shale sector, Libya, Nigeria, <a href="#Spare_capacity">spare capacity</a>, and surging late-2016 OPEC production before the cuts took effect. Indonesia announced another "temporary suspension" of its OPEC membership, rather than accepting the organization's requested 5 percent production cut. Prices fluctuated around US$50/bbl, and OPEC in May 2017 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-20">[17]</a><a href="#cite_note-129">[126]</a><a href="#cite_note-130">[127]</a><a href="#cite_note-131">[128]</a><a href="#cite_note-132">[129]</a><a href="#cite_note-133">[130]</a><a href="#cite_note-May2017Vienna-3">[3]</a> Longtime oil analyst <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Daniel_Yergin" title="Daniel Yergin">Daniel Yergin</a> "described the relationship between OPEC and shale as 'mutual coexistence', with both sides learning to live with prices that are lower than they would like."<a href="#cite_note-134">[131]</a> In December 2017, Russia and OPEC agreed to extend the production cut of 1.8million barrels/day until the end of 2018.<a href="#cite_note-135">[132]</a> <div style="clear:both;"></div> <h2>See also[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=25" title="Edit section: See also">edit</a>]</h2> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_country_groupings" title="List of country groupings">List of country groupings</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_intergovernmental_organizations" title="List of intergovernmental organizations">List of intergovernmental organizations</a></li></ul> <h2>References[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=26" title="Edit section: References">edit</a>]</h2> <div class="reflist columns references-column-width" style="-moz-column-width: 30em; -webkit-column-width: 30em; column-width: 30em; list-style-type: decimal;"> <ol class="references"> <li id="cite_note-cartel-1">^ <a href="#cite_ref-cartel_1-0">a</a> <a href="#cite_ref-cartel_1-1">b</a> <cite class="citation web"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20180804235336/http://www.oecd.org/regreform/sectors/2376087.pdf">"Glossary of Industrial Organisation Economics and Competition Law"</a> (PDF). <a href="/web/20180804235336/https://en.wikipedia.org/wiki/OECD" title="OECD">OECD</a>. 1993. p. 19.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Glossary+of+Industrial+Organisation+Economics+and+Competition+Law&rft.pages=19&rft.pub=OECD&rft.date=1993&rft_id=http%3A%2F%2Fwww.oecd.org%2Fregreform%2Fsectors%2F2376087.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988">  </li> <li id="cite_note-OPEC_Member-2">^ <a href="#cite_ref-OPEC_Member_2-0">a</a> <a href="#cite_ref-OPEC_Member_2-1">b</a> <a href="#cite_ref-OPEC_Member_2-2">c</a> <a href="#cite_ref-OPEC_Member_2-3">d</a> <a href="#cite_ref-OPEC_Member_2-4">e</a> <a href="#cite_ref-OPEC_Member_2-5">f</a> <cite class="citation web"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20180804235336/http://www.opec.org/opec_web/en/about_us/25.htm">"Member Countries"</a>. 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New York: <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Houghton_Mifflin_Company" class="mw-redirect" title="Houghton Mifflin Company">Houghton Mifflin Company</a>. pp. 103–104. <a href="/web/20180804235336/https://en.wikipedia.org/wiki/International_Standard_Book_Number" title="International Standard Book Number">ISBN</a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Special:BookSources/978-0-618-23977-1" title="Special:BookSources/978-0-618-23977-1">978-0-618-23977-1</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&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988">  </li> <li id="cite_note-95"><a href="#cite_ref-95">^</a> <cite class="citation news">Hershey Jr., Robert D. (30 December 1989). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180804235336/https://www.nytimes.com/1989/12/30/business/worrying-anew-over-oil-imports.html?pagewanted=all">"Worrying Anew Over Oil Imports"</a>. The New York Times.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=Worrying+Anew+Over+Oil+Imports&rft.date=1989-12-30&rft.aulast=Hershey+Jr.&rft.aufirst=Robert+D.&rft_id=https%3A%2F%2Fwww.nytimes.com%2F1989%2F12%2F30%2Fbusiness%2Fworrying-anew-over-oil-imports.html%3Fpagewanted%3Dall&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988">  </li> <li id="cite_note-96"><a href="#cite_ref-96">^</a> <cite class="citation web"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Yegor_Gaidar" title="Yegor Gaidar">Gaidar, Yegor</a> (April 2007). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180804235336/https://www.aei.org/wp-content/uploads/2011/10/20070419_Gaidar.pdf">"The Soviet Collapse: Grain and Oil"</a> (PDF). <a href="/web/20180804235336/https://en.wikipedia.org/wiki/American_Enterprise_Institute" title="American Enterprise Institute">American Enterprise Institute</a>. 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-97"><a href="#cite_ref-97">^</a> <cite class="citation web">McMaken, Ryan (7 November 2014). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180804235336/https://mises.org/library/economics-behind-fall-berlin-wall">"The Economics Behind the Fall of the Berlin Wall"</a>. <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Mises_Institute" title="Mises Institute">Mises Institute</a>. 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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-99"><a href="#cite_ref-limit_99-0">^</a> <cite class="citation news"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20180804235336/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. <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. 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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="/web/20180804235336/https://en.wikipedia.org/wiki/Wikipedia:Link_rot" title="Wikipedia:Link rot">permanent dead link</a>] </li> <li id="cite_note-102"><a href="#cite_ref-102">^</a> <cite class="citation news">Ibrahim, Youssef M. (18 July 1990). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180804235336/https://www.nytimes.com/1990/07/18/business/iraq-threatens-emirates-and-kuwait-on-oil-glut.html">"Iraq Threatens Emirates and Kuwait on Oil Glut"</a>. The New York Times.</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-103"><a href="#cite_ref-103">^</a> <cite class="citation news"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20180804235336/http://www.upi.com/Business_News/Energy-Industry/2010/02/05/Iraq-heads-for-OPEC-clash-over-quota/14451265409498/">"Iraq heads for OPEC clash over quota"</a>. UPI. 5 February 2010. <q>Iraq, a founding member of OPEC, has not had a production quota since 1998, when it was pegged at 1.3 million bpd to allow Saddam Hussein's regime to sell oil for food during U.N. sanctions imposed in 1990... Despite the success of the 2009 auctions, problems remain – mounting violence in the run-up to March 7 parliamentary elections, uncertainty over their outcome, and, probably more importantly, the absence of a long-delayed oil law that will define revenue-sharing and regulation of the industry.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Iraq+heads+for+OPEC+clash+over+quota&rft.date=2010-02-05&rft_id=http%3A%2F%2Fwww.upi.com%2FBusiness_News%2FEnergy-Industry%2F2010%2F02%2F05%2FIraq-heads-for-OPEC-clash-over-quota%2F14451265409498%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988">  </li> <li id="cite_note-104"><a href="#cite_ref-104">^</a> <cite class="citation book"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20180804235336/http://www.energycharter.org/fileadmin/DocumentsMedia/Thematic/Oil_and_Gas_Pricing_2007_en.pdf">Putting a Price on Energy</a> (PDF). Energy Charter Secretariat. 2007. p. 90. <a href="/web/20180804235336/https://en.wikipedia.org/wiki/International_Standard_Book_Number" title="International Standard Book Number">ISBN</a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Special:BookSources/9059480465" title="Special:BookSources/9059480465">9059480465</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Putting+a+Price+on+Energy&rft.pages=90&rft.pub=Energy+Charter+Secretariat&rft.date=2007&rft.isbn=9059480465&rft_id=http%3A%2F%2Fwww.energycharter.org%2Ffileadmin%2FDocumentsMedia%2FThematic%2FOil_and_Gas_Pricing_2007_en.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988">  </li> <li id="cite_note-105"><a href="#cite_ref-105">^</a> <cite class="citation journal"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20180804235336/https://web.archive.org/web/20160502040956/http://www.iea.org/media/ieajournal/Issue7_WEB.pdf">"Dialogue replaces OPEC–IEA Mistrust"</a> (PDF). 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Retrieved 2017-12-25.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Reuters&rft.atitle=Russia+backs+gradual%2C+managed+exit+from+oil+cuts+with+OPEC&rft.date=2017-12-22&rft_id=https%3A%2F%2Fwww.reuters.com%2Farticle%2Fus-russia-oil-opec%2Frussia-backs-gradual-managed-exit-from-oil-cuts-with-opec-idUSKBN1EG11V&rfr_id=info%3Asid%2Fen.wikipedia.org%3AOPEC" class="Z3988">  </li> </ol></div> <h2>External links[<a href="/web/20180804235336/https://en.wikipedia.org/w/index.php?title=OPEC&action=edit&section=27" title="Edit section: External links">edit</a>]</h2> <div role="navigation" aria-label="Portals" class="noprint portal plainlist tright" style="margin:0.5em 0 0.5em 1em;border:solid #aaa 1px"> <ul style="display:table;box-sizing:border-box;padding:0.1em;max-width:175px;background:#f9f9f9;font-size:85%;line-height:110%;font-style:italic;font-weight:bold"> <li style="display:table-row"><a 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Secretaries General of OPEC">List of Secretaries General</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/OPEC_Fund_for_International_Development" title="OPEC Fund for International Development">OPEC Fund for International Development</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/OPEC_Reference_Basket" title="OPEC Reference Basket">OPEC Reference Basket</a></li></ul> </div></td></tr></tbody></table></div> <div role="navigation" class="navbox" aria-labelledby="Heads_of_state_of_OPEC_member_states" style="padding:3px"><table class="nowraplinks collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div class="plainlinks hlist navbar mini"><ul><li class="nv-view"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Template:Heads_of_state_of_OPEC_member_states" title="Template:Heads of state of OPEC member states"><abbr 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href="/web/20180804235336/https://en.wikipedia.org/wiki/Head_of_state" title="Head of state">Heads of state</a> of <a class="mw-selflink selflink">OPEC</a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/OPEC#Membership" title="OPEC">member states</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd hlist" style="width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Algeria" title="Algeria"><img alt="Algeria" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/23px-Flag_of_Algeria.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/35px-Flag_of_Algeria.svg.png 1.5x, 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href="/web/20180804235336/https://en.wikipedia.org/wiki/Jo%C3%A3o_Louren%C3%A7o" title="João Lourenço">Lourenço</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Ecuador" title="Ecuador"><img alt="Ecuador" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Flag_of_Ecuador.svg/23px-Flag_of_Ecuador.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Flag_of_Ecuador.svg/35px-Flag_of_Ecuador.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Flag_of_Ecuador.svg/45px-Flag_of_Ecuador.svg.png 2x" data-file-width="1440" data-file-height="960"/></a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Len%C3%ADn_Moreno" title="Lenín Moreno">Moreno</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Equatorial_Guinea" title="Equatorial Guinea"><img alt="Equatorial Guinea" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/23px-Flag_of_Equatorial_Guinea.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/35px-Flag_of_Equatorial_Guinea.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/45px-Flag_of_Equatorial_Guinea.svg.png 2x" data-file-width="1200" data-file-height="800"/></a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Teodoro_Obiang_Nguema_Mbasogo" title="Teodoro Obiang Nguema Mbasogo">Obiang</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gabon" title="Gabon"><img alt="Gabon" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/20px-Flag_of_Gabon.svg.png" width="20" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/31px-Flag_of_Gabon.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/40px-Flag_of_Gabon.svg.png 2x" data-file-width="400" data-file-height="300"/></a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Ali_Bongo_Ondimba" title="Ali Bongo Ondimba">Bongo</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iran" title="Iran"><img alt="Iran" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/23px-Flag_of_Iran.svg.png" width="23" height="13" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/35px-Flag_of_Iran.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/46px-Flag_of_Iran.svg.png 2x" data-file-width="630" data-file-height="360"/></a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Ali_Khamenei" title="Ali Khamenei">Khamenei</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iraq" title="Iraq"><img alt="Iraq" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/23px-Flag_of_Iraq.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/35px-Flag_of_Iraq.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/45px-Flag_of_Iraq.svg.png 2x" data-file-width="411" data-file-height="274"/></a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Fuad_Masum" title="Fuad Masum">Masum</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Kuwait" title="Kuwait"><img alt="Kuwait" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/23px-Flag_of_Kuwait.svg.png" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/35px-Flag_of_Kuwait.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/46px-Flag_of_Kuwait.svg.png 2x" data-file-width="1200" data-file-height="600"/></a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Sabah_Al-Ahmad_Al-Jaber_Al-Sabah" title="Sabah Al-Ahmad Al-Jaber Al-Sabah">Sabah</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Libya" title="Libya"><img alt="Libya" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/23px-Flag_of_Libya.svg.png" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/35px-Flag_of_Libya.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/46px-Flag_of_Libya.svg.png 2x" data-file-width="960" data-file-height="480"/></a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Fayez_al-Sarraj" title="Fayez al-Sarraj">Sarraj</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Nigeria" title="Nigeria"><img alt="Nigeria" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/23px-Flag_of_Nigeria.svg.png" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/35px-Flag_of_Nigeria.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/46px-Flag_of_Nigeria.svg.png 2x" data-file-width="800" data-file-height="400"/></a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Muhammadu_Buhari" title="Muhammadu Buhari">Buhari</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Qatar" title="Qatar"><img alt="Qatar" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/65/Flag_of_Qatar.svg/23px-Flag_of_Qatar.svg.png" width="23" height="9" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/65/Flag_of_Qatar.svg/35px-Flag_of_Qatar.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/6/65/Flag_of_Qatar.svg/46px-Flag_of_Qatar.svg.png 2x" data-file-width="1400" data-file-height="550"/></a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Tamim_bin_Hamad_Al_Thani" title="Tamim bin Hamad Al Thani">Tamim</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Saudi_Arabia" title="Saudi Arabia"><img alt="Saudi Arabia" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/23px-Flag_of_Saudi_Arabia.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/35px-Flag_of_Saudi_Arabia.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/45px-Flag_of_Saudi_Arabia.svg.png 2x" data-file-width="750" data-file-height="500"/></a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Salman_of_Saudi_Arabia" title="Salman of Saudi Arabia">Salman</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/United_Arab_Emirates" title="United Arab Emirates"><img alt="United Arab Emirates" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/23px-Flag_of_the_United_Arab_Emirates.svg.png" width="23" height="12" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/35px-Flag_of_the_United_Arab_Emirates.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/46px-Flag_of_the_United_Arab_Emirates.svg.png 2x" data-file-width="1200" data-file-height="600"/></a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Khalifa_bin_Zayed_Al_Nahyan" title="Khalifa bin Zayed Al Nahyan">Khalifa</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Venezuela" title="Venezuela"><img alt="Venezuela" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/23px-Flag_of_Venezuela.svg.png" width="23" height="15" class="thumbborder" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/35px-Flag_of_Venezuela.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/45px-Flag_of_Venezuela.svg.png 2x" data-file-width="900" data-file-height="600"/></a> <a href="/web/20180804235336/https://en.wikipedia.org/wiki/Nicol%C3%A1s_Maduro" title="Nicolás Maduro">Maduro</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div>Acting heads of state shown in italics.</div></td></tr></tbody></table></div> <div role="navigation" class="navbox" aria-labelledby="Petroleum_industry" style="padding:3px"><table class="nowraplinks hlist collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div class="plainlinks hlist navbar mini"><ul><li class="nv-view"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Template:Petroleum_industry" title="Template:Petroleum industry"><abbr title="View this template" style=";;background:none transparent;border:none;-moz-box-shadow:none;-webkit-box-shadow:none;box-shadow:none; padding:0;">v</abbr></a></li><li class="nv-talk"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Template_talk:Petroleum_industry" title="Template talk:Petroleum industry"><abbr title="Discuss this template" style=";;background:none transparent;border:none;-moz-box-shadow:none;-webkit-box-shadow:none;box-shadow:none; padding:0;">t</abbr></a></li><li class="nv-edit"><a class="external text" href="//web.archive.org/web/20180804235336/https://en.wikipedia.org/w/index.php?title=Template:Petroleum_industry&action=edit"><abbr title="Edit this template" style=";;background:none transparent;border:none;-moz-box-shadow:none;-webkit-box-shadow:none;box-shadow:none; padding:0;">e</abbr></a></li></ul></div><div id="Petroleum_industry" style="font-size:114%;margin:0 4em"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petroleum_industry" title="Petroleum industry">Petroleum industry</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div id="*_Petroleum&#10;*_Primary_energy"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petroleum" title="Petroleum">Petroleum</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Primary_energy" title="Primary energy">Primary energy</a></li></ul> </div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:8.0em;text-align:left;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Benchmark_(crude_oil)" title="Benchmark (crude oil)">Benchmarks</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Argus_Sour_Crude_Index" title="Argus Sour Crude Index">Argus Sour</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Bonny_Light_oil" title="Bonny Light oil">Bonny Light</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Brent_Crude" title="Brent Crude">Brent</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Dubai_Crude" title="Dubai Crude">Dubai</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Indian_Basket" title="Indian Basket">Indian Basket</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Indonesian_Crude_Price" title="Indonesian Crude Price">Indonesian</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Isthmus-34_Light" title="Isthmus-34 Light">Isthmus-34 Light</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Japan_Crude_Cocktail" title="Japan Crude Cocktail">Japan Cocktail</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/OPEC_Reference_Basket" title="OPEC Reference Basket">OPEC Reference Basket</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Tapis_crude" title="Tapis crude">Tapis</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Urals_oil" title="Urals oil">Urals</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/West_Texas_Intermediate" title="West Texas Intermediate">West Texas Intermediate</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Western_Canadian_Select" title="Western Canadian Select">Western Canadian Select</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:8.0em;text-align:left;">Data</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;font-weight:normal;">Natural gas</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_natural_gas_consumption" title="List of countries by natural gas consumption">Consumption</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_natural_gas_production" title="List of countries by natural gas production">Production</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_natural_gas_proven_reserves" title="List of countries by natural gas proven reserves">Reserves</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_natural_gas_imports" title="List of countries by natural gas imports">Imports</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_natural_gas_exports" title="List of countries by natural gas exports">Exports</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Natural_gas_prices" title="Natural gas prices">Price</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;font-weight:normal;">Petroleum</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_oil_consumption" title="List of countries by oil consumption">Consumption</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_oil_production" title="List of countries by oil production">Production</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves" title="List of countries by proven oil reserves">Reserves</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_oil_imports" title="List of countries by oil imports">Imports</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_countries_by_oil_exports" title="List of countries by oil exports">Exports</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Price_of_oil" title="Price of oil">Price</a> (<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gasoline_and_diesel_usage_and_pricing" title="Gasoline and diesel usage and pricing">of gasoline and diesel</a>)</li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Posted_price" class="mw-redirect" title="Posted price">Posted price</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:8.0em;text-align:left;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Hydrocarbon_exploration" title="Hydrocarbon exploration">Exploration</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Core_sample" title="Core sample">Core sampling</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Exploration_geophysics" title="Exploration geophysics">Geophysics</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Integrated_asset_modelling" title="Integrated asset modelling">Integrated asset modelling</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petroleum_engineering" title="Petroleum engineering">Petroleum engineering</a> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Reservoir_simulation" title="Reservoir simulation">Reservoir simulation</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Seismic_to_simulation" class="mw-redirect" title="Seismic to simulation">Seismic to simulation</a></li></ul></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petroleum_geology" title="Petroleum geology">Petroleum geology</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petrophysics" title="Petrophysics">Petrophysics</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Reflection_seismology" title="Reflection seismology">Reflection seismology</a> (<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Seismic_inversion" title="Seismic inversion">Seismic inversion</a>)</li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Seismic_source" title="Seismic source">Seismic source</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:8.0em;text-align:left;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Oil_well" title="Oil well">Drilling</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Blowout_(well_drilling)" title="Blowout (well drilling)">Blowout</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Completion_(oil_and_gas_wells)" title="Completion (oil and gas wells)">Completion</a> (<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Squeeze_job" title="Squeeze job">Squeeze job</a>)</li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Differential_sticking" title="Differential sticking">Differential sticking</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Directional_drilling" title="Directional drilling">Directional drilling</a> (<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Geosteering" title="Geosteering">Geosteering</a>)</li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Drilling_engineering" title="Drilling engineering">Drilling engineering</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Drilling_fluid" title="Drilling fluid">Drilling fluid</a> (<a href="/web/20180804235336/https://en.wikipedia.org/wiki/Drilling_fluid_invasion" title="Drilling fluid invasion">invasion</a>)</li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Drill_stem_test" title="Drill stem test">Drill stem test</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Lost_circulation" title="Lost circulation">Lost circulation</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Measurement_while_drilling" title="Measurement while drilling">Measurement</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Tracer_use_in_the_oil_industry" title="Tracer use in the oil industry">Tracers</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Underbalanced_drilling" title="Underbalanced drilling">Underbalanced drilling</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Well_logging" title="Well logging">Well logging</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:8.0em;text-align:left;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Extraction_of_petroleum" title="Extraction of petroleum">Production</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petroleum_fiscal_regime" title="Petroleum fiscal regime">Petroleum fiscal regime</a> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petroleum_licensing" title="Petroleum licensing">Concessions</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Production_sharing_agreement" title="Production sharing agreement">Production sharing agreements</a></li></ul></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Artificial_lift" title="Artificial lift">Artificial lift</a> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Pumpjack" title="Pumpjack">Pumpjack</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Submersible_pump" title="Submersible pump">Submersible pump (ESP)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gas_lift" title="Gas lift">Gas lift</a></li></ul></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Downstream_(petroleum_industry)" title="Downstream (petroleum industry)">Downstream</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Enhanced_oil_recovery" title="Enhanced oil recovery">Enhanced oil recovery (EOR)</a> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Steam_injection_(oil_industry)" title="Steam injection (oil industry)">Steam injection</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gas_reinjection" title="Gas reinjection">Gas reinjection</a></li></ul></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Midstream" title="Midstream">Midstream</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petroleum_product" title="Petroleum product">Petroleum product</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Pipeline_transport" title="Pipeline transport">Pipeline transport</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Oil_refinery" title="Oil refinery">Refining</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Upstream_(petroleum_industry)" title="Upstream (petroleum industry)">Upstream</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Water_injection_(oil_production)" title="Water injection (oil production)">Water injection</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Well_intervention" title="Well intervention">Well intervention</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Christmas_tree_(oil_well)" title="Christmas tree (oil well)">XT</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:8.0em;text-align:left;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Category:History_of_the_petroleum_industry" title="Category:History of the petroleum industry">History</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/1967_Oil_Embargo" title="1967 Oil Embargo">1967 Oil Embargo</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/1973_oil_crisis" title="1973 oil crisis">1973 oil crisis</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/1979_energy_crisis" title="1979 energy crisis">1979 energy crisis</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/1980s_oil_glut" title="1980s oil glut">1980s oil glut</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/1990_oil_price_shock" title="1990 oil price shock">1990 oil price shock</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/2000s_energy_crisis" title="2000s energy crisis">2000s energy crisis</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/2010s_oil_glut" title="2010s oil glut">2010s oil glut</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Category:Founders_of_the_petroleum_industry" title="Category:Founders of the petroleum industry">Founders</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/History_of_the_petroleum_industry" title="History of the petroleum industry">History of the petroleum industry</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Nationalization_of_oil_supplies" title="Nationalization of oil supplies">Nationalization</a></li> <li><a class="mw-selflink selflink">OPEC</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gas_Exporting_Countries_Forum" title="Gas Exporting Countries Forum">GECF</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Seven_Sisters_(oil_companies)" title="Seven Sisters (oil companies)">Seven Sisters</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Standard_Oil" title="Standard Oil">Standard Oil</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Category:Oil_market_timelines" title="Category:Oil market timelines">Oil market timelines</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petroleum_industry_in_Iraq" title="Petroleum industry in Iraq">Petroleum industry in Iraq</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:8.0em;text-align:left;">Provinces and fields</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_natural_gas_fields" title="List of natural gas fields">List of natural gas fields</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_oil_fields" title="List of oil fields">List of oil fields</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Caspian_Sea" title="Caspian Sea">Caspian Sea</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/East_Midlands_Oil_Province" title="East Midlands Oil Province">East Midlands Oil Province</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/East_Texas_Oil_Field" title="East Texas Oil Field">East Texas</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gulf_of_Mexico" title="Gulf of Mexico">Gulf of Mexico</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Niger_Delta#Nigerian_oil" title="Niger Delta">Niger Delta</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/North_Sea_oil" title="North Sea oil">North Sea</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Permian_Basin_(North_America)" title="Permian Basin (North America)">Permian Basin</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Persian_Gulf" title="Persian Gulf">Persian Gulf</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Prudhoe_Bay_Oil_Field" title="Prudhoe Bay Oil Field">Prudhoe Bay Oil Field</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Oil_reserves_in_Russia" title="Oil reserves in Russia">Russia</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Oil_reserves_in_Venezuela" title="Oil reserves in Venezuela">Venezuela</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Western_Canadian_Sedimentary_Basin" title="Western Canadian Sedimentary Basin">Western Canadian Sedimentary Basin</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:8.0em;text-align:left;">Other topics</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_acronyms_in_oil_and_gas_exploration_and_production" class="mw-redirect" title="List of acronyms in oil and gas exploration and production">Acronyms</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Oil_shale_gas" title="Oil shale gas">Oil shale gas</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Peak_oil" title="Peak oil">Peak oil</a> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Mitigation_of_peak_oil" title="Mitigation of peak oil">mitigation</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Predicting_the_timing_of_peak_oil" title="Predicting the timing of peak oil">timing</a></li></ul></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Category:People_in_the_petroleum_industry" title="Category:People in the petroleum industry">People</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petrocurrency" title="Petrocurrency">Petrocurrency</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petrodollar_recycling" title="Petrodollar recycling">Petrodollar recycling</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Shale_band" title="Shale band">Shale band</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Shale_gas" title="Shale gas">Shale gas</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Swing_producer" title="Swing producer">Swing producer</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Unconventional_oil" title="Unconventional oil">Unconventional oil</a> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Heavy_crude_oil" title="Heavy crude oil">heavy crude</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Oil_sands" title="Oil sands">oil sands</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Oil_shale" title="Oil shale">oil shale</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks collapsible collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2" style=";"><div id="Companies_and_organisations" style="font-size:114%;margin:0 4em">Companies and organisations</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th id="Major_petroleumcompanies" scope="row" class="navbox-group" style="width:8.0em;text-align:left;"><div style="padding:0.1em 0;line-height:1.2em;">Major <a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_oil_exploration_and_production_companies" title="List of oil exploration and production companies">petroleum companies</a></div></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;font-weight:normal;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Big_Oil" title="Big Oil">Supermajors</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/BP" title="BP">BP</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Chevron_Corporation" title="Chevron Corporation">Chevron</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Eni" title="Eni">Eni</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/ExxonMobil" title="ExxonMobil">ExxonMobil</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Royal_Dutch_Shell" title="Royal Dutch Shell">Royal Dutch Shell</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Total_S.A." title="Total S.A.">Total</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;font-weight:normal;"><div style="padding:0.1em 0;line-height:1.2em;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/National_oil_company" title="National oil company">National oil companies</a></div></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Abu_Dhabi_National_Oil_Company" title="Abu Dhabi National Oil Company">ADNOC (UAE)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/China_National_Offshore_Oil_Corporation" title="China National Offshore Oil Corporation">CNOOC (China)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/China_National_Petroleum_Corporation" title="China National Petroleum Corporation">CNPC (China)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Ecopetrol" title="Ecopetrol">Ecopetrol (Colombia)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Equinor" title="Equinor">Equinor (Norway)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gazprom" title="Gazprom">Gazprom (Russia)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Iraq_National_Oil_Company" title="Iraq National Oil Company">Iraq National Oil Company</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Indian_Oil_Corporation" title="Indian Oil Corporation">Indian Oil Corporation</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/KazMunayGas" title="KazMunayGas">KazMunayGas (Kazakhstan)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Kuwait_Petroleum_Corporation" title="Kuwait Petroleum Corporation">Kuwait Petroleum Corporation</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Grupa_Lotos" title="Grupa Lotos">Lotos (Poland)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Nigerian_National_Petroleum_Corporation" title="Nigerian National Petroleum Corporation">Nigerian National Petroleum Corporation</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/National_Iranian_Oil_Company" title="National Iranian Oil Company">NIOC (Iran)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/National_Iranian_South_Oil_Company" title="National Iranian South Oil Company">NISOC (Iran)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Oil_and_Gas_Development_Company" title="Oil and Gas Development Company">OGDCL (Pakistan)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Oil_and_Natural_Gas_Corporation" title="Oil and Natural Gas Corporation">ONGC (India)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/PDVSA" title="PDVSA">PDVSA (Venezuela)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/PKN_Orlen" title="PKN Orlen">PKN Orlen (Poland)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Pemex" title="Pemex">Pemex (Mexico)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Pertamina" title="Pertamina">Pertamina (Indonesia)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petrobangla" title="Petrobangla">PetroBangla (Bangladesh)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petrobras" title="Petrobras">Petrobras (Brazil)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/PetroChina" title="PetroChina">PetroChina</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petronas" title="Petronas">Petronas (Malaysia)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petrovietnam" title="Petrovietnam">Petrovietnam</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/PTT_Public_Company_Limited" title="PTT Public Company Limited">PTT (Thailand)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Qatar_Petroleum" title="Qatar Petroleum">Qatar Petroleum</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Rosneft" title="Rosneft">Rosneft (Russia)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Saudi_Aramco" title="Saudi Aramco">Saudi Aramco (Saudi Arabia)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Sinopec" title="Sinopec">Sinopec (China)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/SOCAR" title="SOCAR">SOCAR (Azerbaijan)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Sonangol_Group" title="Sonangol Group">Sonangol (Angola)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Sonatrach" title="Sonatrach">Sonatrach (Algeria)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/T%C3%BCrkiye_Petrolleri_Anonim_Ortakl%C4%B1%C4%9F%C4%B1" title="Türkiye Petrolleri Anonim Ortaklığı">TPAO (Turkey)</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/YPF" title="YPF">YPF (Argentina)</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;font-weight:normal;"><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Energy_trading" class="mw-redirect" title="Energy trading">Energy trading</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Glencore" title="Glencore">Glencore</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Gunvor_(company)" title="Gunvor (company)">Gunvor</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Mercuria_Energy_Group" title="Mercuria Energy Group">Mercuria</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Naftiran_Intertrade" title="Naftiran Intertrade">Naftiran Intertrade</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Trafigura" title="Trafigura">Trafigura</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Vitol" title="Vitol">Vitol</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:left;font-weight:normal;">Other</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Anadarko_Petroleum" title="Anadarko Petroleum">Anadarko</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Apache_Corporation" title="Apache Corporation">Apache</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/BG_Group" title="BG Group">BG Group</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Cenovus_Energy" title="Cenovus Energy">Cenovus Energy</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Compa%C3%B1%C3%ADa_Espa%C3%B1ola_de_Petr%C3%B3leos" title="Compañía Española de Petróleos">Compañía Española de Petróleos</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/ConocoPhillips" title="ConocoPhillips">ConocoPhillips</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Devon_Energy" title="Devon Energy">Devon</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Galp_Energia" title="Galp Energia">Galp Energia</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Hess_Corporation" title="Hess Corporation">Hess</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Husky_Energy" title="Husky Energy">Husky Energy</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Imperial_Oil" title="Imperial Oil">Imperial Oil</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/JXTG_Holdings" title="JXTG Holdings">JXTG Holdings</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Lukoil" title="Lukoil">Lukoil</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Marathon_Oil" title="Marathon Oil">Marathon Oil</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Occidental_Petroleum" title="Occidental Petroleum">Occidental</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/OMV" title="OMV">OMV</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Port_Harcourt_Refining_Company" title="Port Harcourt Refining Company">Port Harcourt Refining Company</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Reliance_Industries" title="Reliance Industries">Reliance Industries</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Repsol" title="Repsol">Repsol</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Suncor_Energy" title="Suncor Energy">Suncor Energy</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Surgutneftegas" title="Surgutneftegas">Surgutneftegas</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/TNK-BP" title="TNK-BP">TNK-BP</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Tullow_Oil" title="Tullow Oil">Tullow Oil</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/T%C3%BCpra%C5%9F" title="Tüpraş">Tüpraş</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:8.0em;text-align:left;"><div style="padding:0.1em 0;line-height:1.2em;">Major <a href="/web/20180804235336/https://en.wikipedia.org/wiki/List_of_oilfield_service_companies" title="List of oilfield service companies">services companies</a></div></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Amec_Foster_Wheeler" title="Amec Foster Wheeler">Amec Foster Wheeler</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Baker_Hughes" title="Baker Hughes">Baker Hughes</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Cameron_International" title="Cameron International">Cameron</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/CGG_(company)" title="CGG (company)">CGG</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/CH2M_Hill" title="CH2M Hill">CH2M Hill</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Chicago_Bridge_%26_Iron_Company" title="Chicago Bridge & Iron Company">Chicago Bridge & Iron Company</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/China_Oilfield_Services" title="China Oilfield Services">China Oilfield Services</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Enbridge" title="Enbridge">Enbridge</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Ensco_plc" title="Ensco plc">Ensco</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/GE_Energy" class="mw-redirect" title="GE Energy">GE Oil & Gas</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Halliburton" title="Halliburton">Halliburton</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Nabors_Industries" title="Nabors Industries">Nabors Industries</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Naftiran_Intertrade" title="Naftiran Intertrade">Naftiran Intertrade</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/National_Oilwell_Varco" title="National Oilwell Varco">National Oilwell Varco</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Petrofac" title="Petrofac">Petrofac</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Saipem" title="Saipem">Saipem</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Schlumberger" title="Schlumberger">Schlumberger</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Snam" title="Snam">Snam</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Subsea_7" title="Subsea 7">Subsea 7</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/TransCanada_Corporation" title="TransCanada Corporation">TransCanada</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Transocean" title="Transocean">Transocean</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Weatherford_International" title="Weatherford International">Weatherford</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Wood_Group" title="Wood Group">Wood Group</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:8.0em;text-align:left;">Other</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/International_Association_of_Oil_%26_Gas_Producers" title="International Association of Oil & Gas Producers">International Association of Oil & Gas Producers</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/International_Energy_Agency" title="International Energy Agency">International Energy Agency</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/International_Petroleum_Exchange" title="International Petroleum Exchange">International Petroleum Exchange</a></li> <li><a class="mw-selflink selflink">OPEC</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Society_of_Petroleum_Engineers" title="Society of Petroleum Engineers">Society of Petroleum Engineers</a></li> <li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/World_Petroleum_Council" title="World Petroleum Council">World Petroleum Council</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2" style="font-weight:bold;"><div> <ul><li><a href="/web/20180804235336/https://en.wikipedia.org/wiki/Category:Petroleum_industry" title="Category:Petroleum industry">Category</a></li> <li><img alt="Commons page" src="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/12px-Commons-logo.svg.png" title="Commons page" width="12" height="16" srcset="//web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/18px-Commons-logo.svg.png 1.5x, //web.archive.org/web/20180804235336im_/https://upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/24px-Commons-logo.svg.png 2x" data-file-width="1024" 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class="portal" role="navigation" id="p-wikibase-otherprojects" aria-labelledby="p-wikibase-otherprojects-label"> <h3 id="p-wikibase-otherprojects-label">In other projects</h3> <div class="body"> <ul> <li class="wb-otherproject-link wb-otherproject-commons"><a href="https://web.archive.org/web/20180804235336/https://commons.wikimedia.org/wiki/Category:OPEC" hreflang="en">Wikimedia Commons</a></li> </ul> </div> </div> <div class="portal" role="navigation" id="p-lang" aria-labelledby="p-lang-label"> <h3 id="p-lang-label">Languages</h3> <div class="body"> <ul> <li class="interlanguage-link interwiki-af"><a href="https://web.archive.org/web/20180804235336/https://af.wikipedia.org/wiki/OPUL" title="OPUL – Afrikaans" lang="af" hreflang="af" class="interlanguage-link-target">Afrikaans</a></li><li class="interlanguage-link interwiki-als"><a href="https://web.archive.org/web/20180804235336/https://als.wikipedia.org/wiki/Organisation_erd%C3%B6lexportierender_L%C3%A4nder" title="Organisation erdölexportierender Länder – Alemannisch" lang="als" hreflang="als" class="interlanguage-link-target">Alemannisch</a></li><li class="interlanguage-link interwiki-am"><a href="https://web.archive.org/web/20180804235336/https://am.wikipedia.org/wiki/%E1%8A%A6%E1%8D%94%E1%8A%AD" title="ኦፔክ – Amharic" lang="am" hreflang="am" class="interlanguage-link-target">አማርኛ</a></li><li class="interlanguage-link interwiki-ar"><a href="https://web.archive.org/web/20180804235336/https://ar.wikipedia.org/wiki/%D8%A3%D9%88%D8%A8%D9%83" title="أوبك – Arabic" lang="ar" hreflang="ar" class="interlanguage-link-target">العربية</a></li><li class="interlanguage-link interwiki-an"><a href="https://web.archive.org/web/20180804235336/https://an.wikipedia.org/wiki/OPEP" title="OPEP – Aragonese" lang="an" hreflang="an" class="interlanguage-link-target">Aragonés</a></li><li class="interlanguage-link interwiki-ast"><a href="https://web.archive.org/web/20180804235336/https://ast.wikipedia.org/wiki/Organizaci%C3%B3n_de_Pa%C3%ADses_Esportadores_de_Petroleu" title="Organización de Países Esportadores de Petroleu – Asturian" lang="ast" hreflang="ast" class="interlanguage-link-target">Asturianu</a></li><li class="interlanguage-link interwiki-az"><a href="https://web.archive.org/web/20180804235336/https://az.wikipedia.org/wiki/Neft_%C4%B0xrac_Ed%C9%99n_%C3%96lk%C9%99l%C9%99r_Birliyi" title="Neft İxrac Edən Ölkələr Birliyi – Azerbaijani" lang="az" hreflang="az" class="interlanguage-link-target">Azərbaycanca</a></li><li class="interlanguage-link interwiki-azb"><a href="https://web.archive.org/web/20180804235336/https://azb.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DA%A9" title="اوپک – South Azerbaijani" lang="azb" hreflang="azb" class="interlanguage-link-target">تۆرکجه</a></li><li class="interlanguage-link interwiki-bn"><a href="https://web.archive.org/web/20180804235336/https://bn.wikipedia.org/wiki/%E0%A6%93%E0%A6%AA%E0%A7%87%E0%A6%95" title="ওপেক – Bangla" lang="bn" hreflang="bn" class="interlanguage-link-target">বাংলা</a></li><li class="interlanguage-link interwiki-zh-min-nan"><a href="https://web.archive.org/web/20180804235336/https://zh-min-nan.wikipedia.org/wiki/Chio%CC%8Dh-i%C3%BB_Su-chhut_Kok-ka_Cho%CD%98-chit" title="Chio̍h-iû Su-chhut Kok-ka Cho͘-chit – Chinese (Min Nan)" lang="zh-min-nan" hreflang="zh-min-nan" class="interlanguage-link-target">Bân-lâm-gú</a></li><li class="interlanguage-link interwiki-ba"><a href="https://web.archive.org/web/20180804235336/https://ba.wikipedia.org/wiki/%D0%9D%D0%B5%D1%84%D1%82%D1%8C_%D1%8D%D0%BA%D1%81%D0%BF%D0%BE%D1%80%D1%82%D0%BB%D0%B0%D1%83%D1%81%D1%8B_%D0%B8%D0%BB%D0%B4%D3%99%D1%80_%D0%BE%D0%B9%D0%BE%D1%88%D0%BC%D0%B0%D2%BB%D1%8B" title="Нефть экспортлаусы илдәр ойошмаһы – Bashkir" lang="ba" hreflang="ba" class="interlanguage-link-target">Башҡортса</a></li><li class="interlanguage-link interwiki-be"><a href="https://web.archive.org/web/20180804235336/https://be.wikipedia.org/wiki/%D0%90%D0%9F%D0%95%D0%9A" title="АПЕК – Belarusian" lang="be" hreflang="be" class="interlanguage-link-target">Беларуская</a></li><li class="interlanguage-link interwiki-be-x-old"><a href="https://web.archive.org/web/20180804235336/https://be-x-old.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-x-old" hreflang="be-x-old" class="interlanguage-link-target">Беларуская (тарашкевіца)‎</a></li><li class="interlanguage-link interwiki-bg"><a href="https://web.archive.org/web/20180804235336/https://bg.wikipedia.org/wiki/%D0%9E%D1%80%D0%B3%D0%B0%D0%BD%D0%B8%D0%B7%D0%B0%D1%86%D0%B8%D1%8F_%D0%BD%D0%B0_%D1%81%D1%82%D1%80%D0%B0%D0%BD%D0%B8%D1%82%D0%B5_%D0%B8%D0%B7%D0%BD%D0%BE%D1%81%D0%B8%D1%82%D0%B5%D0%BB%D0%BA%D0%B8_%D0%BD%D0%B0_%D0%BF%D0%B5%D1%82%D1%80%D0%BE%D0%BB" title="Организация на страните износителки на петрол – Bulgarian" lang="bg" hreflang="bg" class="interlanguage-link-target">Български</a></li><li class="interlanguage-link interwiki-bs"><a href="https://web.archive.org/web/20180804235336/https://bs.wikipedia.org/wiki/OPEC" title="OPEC – Bosnian" lang="bs" hreflang="bs" class="interlanguage-link-target">Bosanski</a></li><li class="interlanguage-link interwiki-br"><a href="https://web.archive.org/web/20180804235336/https://br.wikipedia.org/wiki/Aozadur_ar_Broio%C3%B9_a_Ezporzh_Petrol" title="Aozadur ar Broioù a Ezporzh Petrol – Breton" lang="br" hreflang="br" class="interlanguage-link-target">Brezhoneg</a></li><li class="interlanguage-link interwiki-ca"><a href="https://web.archive.org/web/20180804235336/https://ca.wikipedia.org/wiki/Organitzaci%C3%B3_de_Pa%C3%AFsos_Exportadors_de_Petroli" title="Organització de Països Exportadors de Petroli – Catalan" lang="ca" hreflang="ca" class="interlanguage-link-target">Català</a></li><li class="interlanguage-link interwiki-cs"><a href="https://web.archive.org/web/20180804235336/https://cs.wikipedia.org/wiki/Organizace_zem%C3%AD_vyv%C3%A1%C5%BEej%C3%ADc%C3%ADch_ropu" title="Organizace zemí vyvážejících ropu – Czech" lang="cs" hreflang="cs" class="interlanguage-link-target">Čeština</a></li><li class="interlanguage-link interwiki-cy"><a href="https://web.archive.org/web/20180804235336/https://cy.wikipedia.org/wiki/OPEC" title="OPEC – Welsh" lang="cy" hreflang="cy" class="interlanguage-link-target">Cymraeg</a></li><li class="interlanguage-link interwiki-da"><a href="https://web.archive.org/web/20180804235336/https://da.wikipedia.org/wiki/OPEC" title="OPEC – Danish" lang="da" hreflang="da" class="interlanguage-link-target">Dansk</a></li><li class="interlanguage-link interwiki-de"><a href="https://web.archive.org/web/20180804235336/https://de.wikipedia.org/wiki/Organisation_erd%C3%B6lexportierender_L%C3%A4nder" title="Organisation erdölexportierender Länder – German" lang="de" hreflang="de" class="interlanguage-link-target">Deutsch</a></li><li class="interlanguage-link interwiki-et"><a href="https://web.archive.org/web/20180804235336/https://et.wikipedia.org/wiki/OPEC" title="OPEC – Estonian" lang="et" hreflang="et" class="interlanguage-link-target">Eesti</a></li><li class="interlanguage-link interwiki-el"><a href="https://web.archive.org/web/20180804235336/https://el.wikipedia.org/wiki/%CE%9F%CF%81%CE%B3%CE%B1%CE%BD%CE%B9%CF%83%CE%BC%CF%8C%CF%82_%CE%95%CE%BE%CE%B1%CE%B3%CF%89%CE%B3%CF%8E%CE%BD_%CE%A0%CE%B5%CF%84%CF%81%CE%B5%CE%BB%CE%B1%CE%B9%CE%BF%CF%80%CE%B1%CF%81%CE%B1%CE%B3%CF%89%CE%B3%CF%8E%CE%BD_%CE%A7%CF%89%CF%81%CF%8E%CE%BD" title="Οργανισμός Εξαγωγών Πετρελαιοπαραγωγών Χωρών – Greek" lang="el" hreflang="el" class="interlanguage-link-target">Ελληνικά</a></li><li class="interlanguage-link interwiki-es"><a href="https://web.archive.org/web/20180804235336/https://es.wikipedia.org/wiki/Organizaci%C3%B3n_de_Pa%C3%ADses_Exportadores_de_Petr%C3%B3leo" title="Organización de Países Exportadores de Petróleo – Spanish" lang="es" hreflang="es" class="interlanguage-link-target">Español</a></li><li class="interlanguage-link interwiki-eo"><a href="https://web.archive.org/web/20180804235336/https://eo.wikipedia.org/wiki/OPEL" title="OPEL – Esperanto" lang="eo" hreflang="eo" class="interlanguage-link-target">Esperanto</a></li><li class="interlanguage-link interwiki-eu"><a href="https://web.archive.org/web/20180804235336/https://eu.wikipedia.org/wiki/LPEE" title="LPEE – Basque" lang="eu" hreflang="eu" class="interlanguage-link-target">Euskara</a></li><li class="interlanguage-link interwiki-fa"><a href="https://web.archive.org/web/20180804235336/https://fa.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DA%A9" title="اوپک – Persian" lang="fa" hreflang="fa" class="interlanguage-link-target">فارسی</a></li><li class="interlanguage-link interwiki-hif"><a href="https://web.archive.org/web/20180804235336/https://hif.wikipedia.org/wiki/OPEC" title="OPEC – Fiji Hindi" lang="hif" hreflang="hif" class="interlanguage-link-target">Fiji Hindi</a></li><li class="interlanguage-link interwiki-fo"><a href="https://web.archive.org/web/20180804235336/https://fo.wikipedia.org/wiki/OPEC" title="OPEC – Faroese" lang="fo" hreflang="fo" class="interlanguage-link-target">Føroyskt</a></li><li class="interlanguage-link interwiki-fr"><a href="https://web.archive.org/web/20180804235336/https://fr.wikipedia.org/wiki/Organisation_des_pays_exportateurs_de_p%C3%A9trole" title="Organisation des pays exportateurs de pétrole – French" lang="fr" hreflang="fr" class="interlanguage-link-target">Français</a></li><li class="interlanguage-link interwiki-fy"><a href="https://web.archive.org/web/20180804235336/https://fy.wikipedia.org/wiki/Organisaasje_fan_Oalje_Eksportearjende_Lannen" title="Organisaasje fan Oalje Eksportearjende Lannen – Western Frisian" lang="fy" hreflang="fy" class="interlanguage-link-target">Frysk</a></li><li class="interlanguage-link interwiki-fur"><a href="https://web.archive.org/web/20180804235336/https://fur.wikipedia.org/wiki/OPEC" title="OPEC – Friulian" lang="fur" hreflang="fur" class="interlanguage-link-target">Furlan</a></li><li class="interlanguage-link interwiki-ga"><a href="https://web.archive.org/web/20180804235336/https://ga.wikipedia.org/wiki/Eagra%C3%ADocht_T%C3%ADortha_Onnmhairithe_an_Pheitriliam" title="Eagraíocht Tíortha Onnmhairithe an Pheitriliam – Irish" lang="ga" hreflang="ga" class="interlanguage-link-target">Gaeilge</a></li><li class="interlanguage-link interwiki-gl"><a href="https://web.archive.org/web/20180804235336/https://gl.wikipedia.org/wiki/Organizaci%C3%B3n_de_Pa%C3%ADses_Exportadores_de_Petr%C3%B3leo" title="Organización de Países Exportadores de Petróleo – Galician" lang="gl" hreflang="gl" class="interlanguage-link-target">Galego</a></li><li class="interlanguage-link interwiki-ko"><a href="https://web.archive.org/web/20180804235336/https://ko.wikipedia.org/wiki/%EC%84%9D%EC%9C%A0_%EC%88%98%EC%B6%9C%EA%B5%AD_%EA%B8%B0%EA%B5%AC" title="석유 수출국 기구 – Korean" lang="ko" hreflang="ko" class="interlanguage-link-target">한국어</a></li><li class="interlanguage-link interwiki-hy"><a href="https://web.archive.org/web/20180804235336/https://hy.wikipedia.org/wiki/%D5%86%D5%A1%D5%BE%D5%A9_%D5%A1%D6%80%D5%BF%D5%A1%D5%B0%D5%A1%D5%B6%D5%B8%D5%B2_%D5%A5%D6%80%D5%AF%D6%80%D5%B6%D5%A5%D6%80%D5%AB_%D5%AF%D5%A1%D5%A6%D5%B4%D5%A1%D5%AF%D5%A5%D6%80%D5%BA%D5%B8%D6%82%D5%A9%D5%B5%D5%B8%D6%82%D5%B6" title="Նավթ արտահանող երկրների կազմակերպություն – Armenian" lang="hy" hreflang="hy" class="interlanguage-link-target">Հայերեն</a></li><li class="interlanguage-link interwiki-hi"><a href="https://web.archive.org/web/20180804235336/https://hi.wikipedia.org/wiki/%E0%A4%93%E0%A4%AA%E0%A5%87%E0%A4%95" title="ओपेक – Hindi" lang="hi" hreflang="hi" class="interlanguage-link-target">हिन्दी</a></li><li class="interlanguage-link interwiki-hr"><a href="https://web.archive.org/web/20180804235336/https://hr.wikipedia.org/wiki/OPEC" title="OPEC – Croatian" lang="hr" hreflang="hr" class="interlanguage-link-target">Hrvatski</a></li><li class="interlanguage-link interwiki-io"><a href="https://web.archive.org/web/20180804235336/https://io.wikipedia.org/wiki/ONEP" title="ONEP – Ido" lang="io" hreflang="io" class="interlanguage-link-target">Ido</a></li><li class="interlanguage-link interwiki-ilo"><a href="https://web.archive.org/web/20180804235336/https://ilo.wikipedia.org/wiki/Gunglo_ti_Pagpagilian_nga_Agiluluwas_ti_Petrolio" title="Gunglo ti Pagpagilian nga Agiluluwas ti Petrolio – Iloko" lang="ilo" hreflang="ilo" class="interlanguage-link-target">Ilokano</a></li><li class="interlanguage-link interwiki-id"><a href="https://web.archive.org/web/20180804235336/https://id.wikipedia.org/wiki/Organisasi_Negara-Negara_Pengekspor_Minyak_Bumi" title="Organisasi Negara-Negara Pengekspor Minyak Bumi – Indonesian" lang="id" hreflang="id" class="interlanguage-link-target">Bahasa Indonesia</a></li><li class="interlanguage-link interwiki-is"><a href="https://web.archive.org/web/20180804235336/https://is.wikipedia.org/wiki/Samt%C3%B6k_ol%C3%ADuframlei%C3%B0slur%C3%ADkja" title="Samtök olíuframleiðsluríkja – Icelandic" lang="is" hreflang="is" class="interlanguage-link-target">Íslenska</a></li><li class="interlanguage-link interwiki-it"><a href="https://web.archive.org/web/20180804235336/https://it.wikipedia.org/wiki/Organizzazione_dei_Paesi_esportatori_di_petrolio" title="Organizzazione dei Paesi esportatori di petrolio – Italian" lang="it" hreflang="it" class="interlanguage-link-target">Italiano</a></li><li class="interlanguage-link interwiki-he"><a href="https://web.archive.org/web/20180804235336/https://he.wikipedia.org/wiki/%D7%90%D7%95%D7%A4%22%D7%A7" title="אופ"ק – Hebrew" lang="he" hreflang="he" class="interlanguage-link-target">עברית</a></li><li class="interlanguage-link interwiki-jv"><a href="https://web.archive.org/web/20180804235336/https://jv.wikipedia.org/wiki/OPEC" title="OPEC – Javanese" lang="jv" hreflang="jv" class="interlanguage-link-target">Basa Jawa</a></li><li class="interlanguage-link interwiki-kn"><a href="https://web.archive.org/web/20180804235336/https://kn.wikipedia.org/wiki/%E0%B2%92%E0%B2%AA%E0%B3%86%E0%B2%95%E0%B3%8D" title="ಒಪೆಕ್ – Kannada" lang="kn" hreflang="kn" class="interlanguage-link-target">ಕನ್ನಡ</a></li><li class="interlanguage-link interwiki-krc"><a href="https://web.archive.org/web/20180804235336/https://krc.wikipedia.org/wiki/%D0%9D%D0%B5%D1%84%D1%82%D0%BD%D0%B8_%D1%8D%D0%BA%D1%81%D0%BF%D0%BE%D1%80%D1%82%D1%91%D1%80%D0%BB%D0%B0%D1%80%D1%8B_%D0%B1%D0%BE%D0%BB%D0%B3%D1%8A%D0%B0%D0%BD_%D0%BA%D1%8A%D1%80%D0%B0%D0%BB%D0%BB%D0%B0%D0%BD%D1%8B_%D0%BE%D1%80%D0%B3%D0%B0%D0%BD%D0%B8%D0%B7%D0%B0%D1%86%D0%B8%D1%8F%D1%81%D1%8B" title="Нефтни экспортёрлары болгъан къралланы организациясы – Karachay-Balkar" lang="krc" hreflang="krc" class="interlanguage-link-target">Къарачай-малкъар</a></li><li class="interlanguage-link interwiki-ka"><a href="https://web.archive.org/web/20180804235336/https://ka.wikipedia.org/wiki/%E1%83%9C%E1%83%90%E1%83%95%E1%83%97%E1%83%9D%E1%83%91%E1%83%98%E1%83%A1_%E1%83%94%E1%83%A5%E1%83%A1%E1%83%9E%E1%83%9D%E1%83%A0%E1%83%A2%E1%83%98%E1%83%9D%E1%83%A0_%E1%83%A5%E1%83%95%E1%83%94%E1%83%A7%E1%83%90%E1%83%9C%E1%83%90%E1%83%97%E1%83%90_%E1%83%9D%E1%83%A0%E1%83%92%E1%83%90%E1%83%9C%E1%83%98%E1%83%96%E1%83%90%E1%83%AA%E1%83%98%E1%83%90" title="ნავთობის ექსპორტიორ ქვეყანათა ორგანიზაცია – Georgian" lang="ka" hreflang="ka" class="interlanguage-link-target">ქართული</a></li><li class="interlanguage-link interwiki-kk"><a href="https://web.archive.org/web/20180804235336/https://kk.wikipedia.org/wiki/%D0%9C%D2%B1%D0%BD%D0%B0%D0%B9_%D1%8D%D0%BA%D1%81%D0%BF%D0%BE%D1%80%D1%82%D1%82%D0%B0%D1%83%D1%88%D1%8B_%D0%B5%D0%BB%D0%B4%D0%B5%D1%80_%D2%B1%D0%B9%D1%8B%D0%BC%D1%8B" title="Мұнай экспорттаушы елдер ұйымы – Kazakh" lang="kk" hreflang="kk" class="interlanguage-link-target">Қазақша</a></li><li class="interlanguage-link interwiki-sw"><a href="https://web.archive.org/web/20180804235336/https://sw.wikipedia.org/wiki/Jumuiya_ya_nchi_zinazozalisha_mafuta_duniani" title="Jumuiya ya nchi zinazozalisha mafuta duniani – Swahili" lang="sw" hreflang="sw" class="interlanguage-link-target">Kiswahili</a></li><li class="interlanguage-link interwiki-ht"><a href="https://web.archive.org/web/20180804235336/https://ht.wikipedia.org/wiki/%C3%92ganizasyon_nan_Petw%C3%B2l_Peyi_Leksportasyon" title="Òganizasyon nan Petwòl Peyi Leksportasyon – Haitian Creole" lang="ht" hreflang="ht" class="interlanguage-link-target">Kreyòl ayisyen</a></li><li class="interlanguage-link interwiki-ku"><a href="https://web.archive.org/web/20180804235336/https://ku.wikipedia.org/wiki/OPEC" title="OPEC – Kurdish" lang="ku" hreflang="ku" class="interlanguage-link-target">Kurdî</a></li><li class="interlanguage-link interwiki-ky"><a href="https://web.archive.org/web/20180804235336/https://ky.wikipedia.org/wiki/%D0%9E%D0%9F%D0%95%D0%9A" title="ОПЕК – Kyrgyz" lang="ky" hreflang="ky" class="interlanguage-link-target">Кыргызча</a></li><li class="interlanguage-link interwiki-la"><a href="https://web.archive.org/web/20180804235336/https://la.wikipedia.org/wiki/OPEC" title="OPEC – Latin" lang="la" hreflang="la" class="interlanguage-link-target">Latina</a></li><li class="interlanguage-link interwiki-lv"><a href="https://web.archive.org/web/20180804235336/https://lv.wikipedia.org/wiki/OPEC" title="OPEC – Latvian" lang="lv" hreflang="lv" class="interlanguage-link-target">Latviešu</a></li><li class="interlanguage-link interwiki-lb"><a href="https://web.archive.org/web/20180804235336/https://lb.wikipedia.org/wiki/Organization_of_the_Petroleum_Exporting_Countries" title="Organization of the Petroleum Exporting Countries – Luxembourgish" lang="lb" hreflang="lb" class="interlanguage-link-target">Lëtzebuergesch</a></li><li class="interlanguage-link interwiki-lt"><a href="https://web.archive.org/web/20180804235336/https://lt.wikipedia.org/wiki/OPEC" title="OPEC – Lithuanian" lang="lt" hreflang="lt" class="interlanguage-link-target">Lietuvių</a></li><li class="interlanguage-link interwiki-hu"><a href="https://web.archive.org/web/20180804235336/https://hu.wikipedia.org/wiki/OPEC" title="OPEC – Hungarian" lang="hu" hreflang="hu" class="interlanguage-link-target">Magyar</a></li><li class="interlanguage-link interwiki-mk"><a href="https://web.archive.org/web/20180804235336/https://mk.wikipedia.org/wiki/%D0%9E%D1%80%D0%B3%D0%B0%D0%BD%D0%B8%D0%B7%D0%B0%D1%86%D0%B8%D1%98%D0%B0_%D0%BD%D0%B0_%D0%B7%D0%B5%D0%BC%D1%98%D0%B8_%D0%B8%D0%B7%D0%B2%D0%BE%D0%B7%D0%BD%D0%B8%D1%87%D0%BA%D0%B8_%D0%BD%D0%B0_%D0%BD%D0%B0%D1%84%D1%82%D0%B0" title="Организација на земји извознички на нафта – Macedonian" lang="mk" hreflang="mk" class="interlanguage-link-target">Македонски</a></li><li class="interlanguage-link interwiki-mg"><a href="https://web.archive.org/web/20180804235336/https://mg.wikipedia.org/wiki/Fikambanan%27ny_Firenena_Manondrana_Solitany" title="Fikambanan'ny Firenena Manondrana Solitany – Malagasy" lang="mg" hreflang="mg" class="interlanguage-link-target">Malagasy</a></li><li class="interlanguage-link interwiki-ml"><a href="https://web.archive.org/web/20180804235336/https://ml.wikipedia.org/wiki/%E0%B4%92%E0%B4%AA%E0%B5%86%E0%B4%95%E0%B5%8D" title="ഒപെക് – Malayalam" lang="ml" hreflang="ml" class="interlanguage-link-target">മലയാളം</a></li><li class="interlanguage-link interwiki-mr"><a href="https://web.archive.org/web/20180804235336/https://mr.wikipedia.org/wiki/%E0%A4%93%E0%A4%AA%E0%A5%87%E0%A4%95" title="ओपेक – Marathi" lang="mr" hreflang="mr" class="interlanguage-link-target">मराठी</a></li><li class="interlanguage-link interwiki-arz"><a href="https://web.archive.org/web/20180804235336/https://arz.wikipedia.org/wiki/%D8%A7%D9%88%D8%A8%D9%8A%D9%83" title="اوبيك – Egyptian Arabic" lang="arz" hreflang="arz" class="interlanguage-link-target">مصرى</a></li><li class="interlanguage-link interwiki-mzn"><a href="https://web.archive.org/web/20180804235336/https://mzn.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DA%A9" title="اوپک – Mazanderani" lang="mzn" hreflang="mzn" class="interlanguage-link-target">مازِرونی</a></li><li class="interlanguage-link interwiki-ms"><a href="https://web.archive.org/web/20180804235336/https://ms.wikipedia.org/wiki/Pertubuhan_Negara-negara_Pengeksport_Petroleum" title="Pertubuhan Negara-negara Pengeksport Petroleum – Malay" lang="ms" hreflang="ms" class="interlanguage-link-target">Bahasa Melayu</a></li><li class="interlanguage-link interwiki-mn"><a href="https://web.archive.org/web/20180804235336/https://mn.wikipedia.org/wiki/%D0%9E%D0%9F%D0%95%D0%9A" title="ОПЕК – Mongolian" lang="mn" hreflang="mn" class="interlanguage-link-target">Монгол</a></li><li class="interlanguage-link interwiki-my"><a href="https://web.archive.org/web/20180804235336/https://my.wikipedia.org/wiki/%E1%80%A1%E1%80%AD%E1%80%AF%E1%80%95%E1%80%80%E1%80%BA" title="အိုပက် – Burmese" lang="my" hreflang="my" class="interlanguage-link-target">မြန်မာဘာသာ</a></li><li class="interlanguage-link interwiki-nl"><a href="https://web.archive.org/web/20180804235336/https://nl.wikipedia.org/wiki/Organisatie_van_olie-exporterende_landen" title="Organisatie van olie-exporterende landen – Dutch" lang="nl" hreflang="nl" class="interlanguage-link-target">Nederlands</a></li><li class="interlanguage-link interwiki-new"><a href="https://web.archive.org/web/20180804235336/https://new.wikipedia.org/wiki/%E0%A4%93%E0%A4%AA%E0%A5%87%E0%A4%95" title="ओपेक – Newari" lang="new" hreflang="new" class="interlanguage-link-target">नेपाल भाषा</a></li><li class="interlanguage-link interwiki-ja"><a href="https://web.archive.org/web/20180804235336/https://ja.wikipedia.org/wiki/%E7%9F%B3%E6%B2%B9%E8%BC%B8%E5%87%BA%E5%9B%BD%E6%A9%9F%E6%A7%8B" title="石油輸出国機構 – Japanese" lang="ja" hreflang="ja" class="interlanguage-link-target">日本語</a></li><li class="interlanguage-link interwiki-ce"><a href="https://web.archive.org/web/20180804235336/https://ce.wikipedia.org/wiki/%D0%9C%D0%B5%D1%85%D0%BA%D0%B4%D0%B0%D1%8C%D1%82%D1%82%D0%B0%D0%BD_%D1%8D%D0%BA%D1%81%D0%BF%D0%BE%D1%80%D1%82%D1%85%D0%BE%D0%B9%D0%BD_%D0%BF%D0%B0%D1%87%D1%85%D1%8C%D0%B0%D0%BB%D0%BA%D1%85%D0%B8%D0%B9%D0%BD_%D0%BE%D1%80%D0%B3%D0%B0%D0%BD%D0%B8%D0%B7%D0%B0%D1%86%D0%B8" title="Мехкдаьттан экспортхойн пачхьалкхийн организаци – Chechen" lang="ce" hreflang="ce" class="interlanguage-link-target">Нохчийн</a></li><li class="interlanguage-link interwiki-no"><a href="https://web.archive.org/web/20180804235336/https://no.wikipedia.org/wiki/OPEC" title="OPEC – Norwegian" lang="no" hreflang="no" class="interlanguage-link-target">Norsk</a></li><li class="interlanguage-link interwiki-nn"><a href="https://web.archive.org/web/20180804235336/https://nn.wikipedia.org/wiki/Organisasjonen_av_oljeeksporterande_land" title="Organisasjonen av oljeeksporterande land – Norwegian Nynorsk" lang="nn" hreflang="nn" class="interlanguage-link-target">Norsk nynorsk</a></li><li class="interlanguage-link interwiki-oc"><a href="https://web.archive.org/web/20180804235336/https://oc.wikipedia.org/wiki/Organizacion_dels_Pa%C3%AFses_Exportadors_de_Petr%C3%B2li" title="Organizacion dels Païses Exportadors de Petròli – Occitan" lang="oc" hreflang="oc" class="interlanguage-link-target">Occitan</a></li><li class="interlanguage-link interwiki-uz"><a href="https://web.archive.org/web/20180804235336/https://uz.wikipedia.org/wiki/OPEC" title="OPEC – Uzbek" lang="uz" hreflang="uz" class="interlanguage-link-target">Oʻzbekcha/ўзбекча</a></li><li class="interlanguage-link interwiki-pa"><a href="https://web.archive.org/web/20180804235336/https://pa.wikipedia.org/wiki/%E0%A8%93%E0%A8%AA%E0%A9%88%E0%A9%B1%E0%A8%95" title="ਓਪੈੱਕ – Punjabi" lang="pa" hreflang="pa" class="interlanguage-link-target">ਪੰਜਾਬੀ</a></li><li class="interlanguage-link interwiki-pnb"><a href="https://web.archive.org/web/20180804235336/https://pnb.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DB%8C%DA%A9" title="اوپیک – Western Punjabi" lang="pnb" hreflang="pnb" class="interlanguage-link-target">پنجابی</a></li><li class="interlanguage-link interwiki-ps"><a href="https://web.archive.org/web/20180804235336/https://ps.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DA%A9" title="اوپک – Pashto" lang="ps" hreflang="ps" class="interlanguage-link-target">پښتو</a></li><li class="interlanguage-link interwiki-jam"><a href="https://web.archive.org/web/20180804235336/https://jam.wikipedia.org/wiki/OPEC" title="OPEC – Jamaican Creole English" lang="jam" hreflang="jam" class="interlanguage-link-target">Patois</a></li><li class="interlanguage-link interwiki-pms"><a href="https://web.archive.org/web/20180804235336/https://pms.wikipedia.org/wiki/Organisassion_dij_pais_esportator_%C3%ABd_petreuli" title="Organisassion dij pais esportator ëd petreuli – Piedmontese" lang="pms" hreflang="pms" class="interlanguage-link-target">Piemontèis</a></li><li class="interlanguage-link interwiki-pl"><a href="https://web.archive.org/web/20180804235336/https://pl.wikipedia.org/wiki/OPEC" title="OPEC – Polish" lang="pl" hreflang="pl" class="interlanguage-link-target">Polski</a></li><li class="interlanguage-link interwiki-pt"><a href="https://web.archive.org/web/20180804235336/https://pt.wikipedia.org/wiki/Organiza%C3%A7%C3%A3o_dos_Pa%C3%ADses_Exportadores_de_Petr%C3%B3leo" title="Organização dos Países Exportadores de Petróleo – Portuguese" lang="pt" hreflang="pt" class="interlanguage-link-target">Português</a></li><li class="interlanguage-link interwiki-ro"><a href="https://web.archive.org/web/20180804235336/https://ro.wikipedia.org/wiki/OPEC" title="OPEC – Romanian" lang="ro" hreflang="ro" class="interlanguage-link-target">Română</a></li><li class="interlanguage-link interwiki-rue"><a href="https://web.archive.org/web/20180804235336/https://rue.wikipedia.org/wiki/%D0%9E%D0%9F%D0%95%D0%9A" title="ОПЕК – Rusyn" lang="rue" hreflang="rue" class="interlanguage-link-target">Русиньскый</a></li><li class="interlanguage-link interwiki-ru"><a href="https://web.archive.org/web/20180804235336/https://ru.wikipedia.org/wiki/%D0%9E%D1%80%D0%B3%D0%B0%D0%BD%D0%B8%D0%B7%D0%B0%D1%86%D0%B8%D1%8F_%D1%81%D1%82%D1%80%D0%B0%D0%BD_%E2%80%94_%D1%8D%D0%BA%D1%81%D0%BF%D0%BE%D1%80%D1%82%D1%91%D1%80%D0%BE%D0%B2_%D0%BD%D0%B5%D1%84%D1%82%D0%B8" title="Организация стран — экспортёров нефти – Russian" lang="ru" hreflang="ru" class="interlanguage-link-target">Русский</a></li><li class="interlanguage-link interwiki-sah"><a href="https://web.archive.org/web/20180804235336/https://sah.wikipedia.org/wiki/OPEC" title="OPEC – Sakha" lang="sah" hreflang="sah" class="interlanguage-link-target">Саха тыла</a></li><li class="interlanguage-link interwiki-sco"><a href="https://web.archive.org/web/20180804235336/https://sco.wikipedia.org/wiki/OPEC" title="OPEC – Scots" lang="sco" hreflang="sco" class="interlanguage-link-target">Scots</a></li><li class="interlanguage-link interwiki-sq"><a href="https://web.archive.org/web/20180804235336/https://sq.wikipedia.org/wiki/OPEC" title="OPEC – Albanian" lang="sq" hreflang="sq" class="interlanguage-link-target">Shqip</a></li><li class="interlanguage-link interwiki-scn"><a href="https://web.archive.org/web/20180804235336/https://scn.wikipedia.org/wiki/OPEC" title="OPEC – Sicilian" lang="scn" hreflang="scn" class="interlanguage-link-target">Sicilianu</a></li><li class="interlanguage-link interwiki-simple"><a href="https://web.archive.org/web/20180804235336/https://simple.wikipedia.org/wiki/OPEC" title="OPEC – Simple English" lang="simple" hreflang="simple" class="interlanguage-link-target">Simple English</a></li><li class="interlanguage-link interwiki-sk"><a href="https://web.archive.org/web/20180804235336/https://sk.wikipedia.org/wiki/Organiz%C3%A1cia_kraj%C3%ADn_vyv%C3%A1%C5%BEaj%C3%BAcich_ropu" title="Organizácia krajín vyvážajúcich ropu – Slovak" lang="sk" hreflang="sk" class="interlanguage-link-target">Slovenčina</a></li><li class="interlanguage-link interwiki-sl"><a href="https://web.archive.org/web/20180804235336/https://sl.wikipedia.org/wiki/Organizacija_dr%C5%BEav_izvoznic_nafte" title="Organizacija držav izvoznic nafte – Slovenian" lang="sl" hreflang="sl" class="interlanguage-link-target">Slovenščina</a></li><li class="interlanguage-link interwiki-so"><a href="https://web.archive.org/web/20180804235336/https://so.wikipedia.org/wiki/OPEC" title="OPEC – Somali" lang="so" hreflang="so" class="interlanguage-link-target">Soomaaliga</a></li><li class="interlanguage-link interwiki-ckb"><a href="https://web.archive.org/web/20180804235336/https://ckb.wikipedia.org/wiki/%D8%A6%DB%86%D9%BE%DB%8E%DA%A9" title="ئۆپێک – Central Kurdish" lang="ckb" hreflang="ckb" class="interlanguage-link-target">کوردی</a></li><li class="interlanguage-link interwiki-sr"><a href="https://web.archive.org/web/20180804235336/https://sr.wikipedia.org/wiki/OPEK" title="OPEK – Serbian" lang="sr" hreflang="sr" class="interlanguage-link-target">Српски / srpski</a></li><li class="interlanguage-link interwiki-sh"><a href="https://web.archive.org/web/20180804235336/https://sh.wikipedia.org/wiki/OPEC" title="OPEC – Serbo-Croatian" lang="sh" hreflang="sh" class="interlanguage-link-target">Srpskohrvatski / српскохрватски</a></li><li class="interlanguage-link interwiki-su"><a href="https://web.archive.org/web/20180804235336/https://su.wikipedia.org/wiki/OPEC" title="OPEC – Sundanese" lang="su" hreflang="su" class="interlanguage-link-target">Basa Sunda</a></li><li class="interlanguage-link interwiki-fi"><a href="https://web.archive.org/web/20180804235336/https://fi.wikipedia.org/wiki/OPEC" title="OPEC – Finnish" lang="fi" hreflang="fi" class="interlanguage-link-target">Suomi</a></li><li class="interlanguage-link interwiki-sv"><a href="https://web.archive.org/web/20180804235336/https://sv.wikipedia.org/wiki/Opec" title="Opec – Swedish" lang="sv" hreflang="sv" class="interlanguage-link-target">Svenska</a></li><li class="interlanguage-link interwiki-tl"><a href="https://web.archive.org/web/20180804235336/https://tl.wikipedia.org/wiki/Organisasyon_ng_mga_Bansang_Nagluluwas_ng_Langis" title="Organisasyon ng mga Bansang Nagluluwas ng Langis – Tagalog" lang="tl" hreflang="tl" class="interlanguage-link-target">Tagalog</a></li><li class="interlanguage-link interwiki-ta"><a href="https://web.archive.org/web/20180804235336/https://ta.wikipedia.org/wiki/%E0%AE%93%E0%AE%AA%E0%AF%8D%E0%AE%AA%E0%AF%86%E0%AE%95%E0%AF%8D" title="ஓப்பெக் – Tamil" lang="ta" hreflang="ta" class="interlanguage-link-target">தமிழ்</a></li><li class="interlanguage-link interwiki-roa-tara"><a href="https://web.archive.org/web/20180804235336/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="roa-Tara" hreflang="roa-Tara" class="interlanguage-link-target">Tarandíne</a></li><li class="interlanguage-link interwiki-tt"><a href="https://web.archive.org/web/20180804235336/https://tt.wikipedia.org/wiki/Neft_%C3%A7itk%C3%A4_%C3%A7%C4%B1%C4%9Faru%C3%A7%C4%B1_ill%C3%A4r_oy%C4%B1%C5%9Fmas%C4%B1" title="Neft çitkä çığaruçı illär oyışması – Tatar" lang="tt" hreflang="tt" class="interlanguage-link-target">Татарча/tatarça</a></li><li class="interlanguage-link interwiki-th"><a href="https://web.archive.org/web/20180804235336/https://th.wikipedia.org/wiki/%E0%B9%82%E0%B8%AD%E0%B9%80%E0%B8%9B%E0%B8%81" title="โอเปก – Thai" lang="th" hreflang="th" class="interlanguage-link-target">ไทย</a></li><li class="interlanguage-link interwiki-tr"><a href="https://web.archive.org/web/20180804235336/https://tr.wikipedia.org/wiki/OPEC" title="OPEC – Turkish" lang="tr" hreflang="tr" class="interlanguage-link-target">Türkçe</a></li><li class="interlanguage-link interwiki-uk"><a href="https://web.archive.org/web/20180804235336/https://uk.wikipedia.org/wiki/%D0%9E%D0%9F%D0%95%D0%9A" title="ОПЕК – Ukrainian" lang="uk" hreflang="uk" class="interlanguage-link-target">Українська</a></li><li class="interlanguage-link interwiki-ur"><a href="https://web.archive.org/web/20180804235336/https://ur.wikipedia.org/wiki/%D8%A7%D9%88%D9%BE%DB%8C%DA%A9" title="اوپیک – Urdu" lang="ur" hreflang="ur" class="interlanguage-link-target">اردو</a></li><li class="interlanguage-link interwiki-ug"><a href="https://web.archive.org/web/20180804235336/https://ug.wikipedia.org/wiki/%D9%86%DB%90%D9%81%D9%89%D8%AA_%D8%A6%DB%90%D9%83%D9%89%D8%B3%D9%BE%D9%88%D8%B1%D8%AA_%D9%82%D9%89%D9%84%D8%BA%DB%87%DA%86%D9%89_%D8%AF%DB%86%D9%84%DB%95%D8%AA%D9%84%DB%95%D8%B1_%D8%AA%DB%95%D8%B4%D9%83%D9%89%D9%84%D8%A7%D8%AA%D9%89_(OPEC)" title="نېفىت ئېكىسپورت قىلغۇچى دۆلەتلەر تەشكىلاتى (OPEC) – Uyghur" lang="ug" hreflang="ug" class="interlanguage-link-target">ئۇيغۇرچە / Uyghurche</a></li><li class="interlanguage-link interwiki-vec"><a href="https://web.archive.org/web/20180804235336/https://vec.wikipedia.org/wiki/OPEC" title="OPEC – Venetian" lang="vec" hreflang="vec" class="interlanguage-link-target">Vèneto</a></li><li class="interlanguage-link interwiki-vi"><a href="https://web.archive.org/web/20180804235336/https://vi.wikipedia.org/wiki/T%E1%BB%95_ch%E1%BB%A9c_c%C3%A1c_n%C6%B0%E1%BB%9Bc_xu%E1%BA%A5t_kh%E1%BA%A9u_d%E1%BA%A7u_l%E1%BB%ADa" title="Tổ chức các nước xuất khẩu dầu lửa – Vietnamese" lang="vi" hreflang="vi" class="interlanguage-link-target">Tiếng Việt</a></li><li class="interlanguage-link interwiki-fiu-vro"><a href="https://web.archive.org/web/20180804235336/https://fiu-vro.wikipedia.org/wiki/OPEC" title="OPEC – Võro" lang="fiu-vro" hreflang="fiu-vro" class="interlanguage-link-target">Võro</a></li><li class="interlanguage-link interwiki-war"><a href="https://web.archive.org/web/20180804235336/https://war.wikipedia.org/wiki/OPEC" title="OPEC – Waray" lang="war" hreflang="war" class="interlanguage-link-target">Winaray</a></li><li class="interlanguage-link interwiki-wuu"><a href="https://web.archive.org/web/20180804235336/https://wuu.wikipedia.org/wiki/%E7%9F%B3%E6%B2%B9%E8%BE%93%E5%87%BA%E5%9B%BD%E7%BB%84%E7%BB%87" title="石油输出国组织 – Wu Chinese" lang="wuu" hreflang="wuu" class="interlanguage-link-target">吴语</a></li><li class="interlanguage-link interwiki-yi"><a href="https://web.archive.org/web/20180804235336/https://yi.wikipedia.org/wiki/%D7%90%D7%A4%D7%A2%D7%A7" title="אפעק – Yiddish" lang="yi" hreflang="yi" class="interlanguage-link-target">ייִדיש</a></li><li class="interlanguage-link interwiki-zh-yue"><a href="https://web.archive.org/web/20180804235336/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="zh-yue" hreflang="zh-yue" class="interlanguage-link-target">粵語</a></li><li class="interlanguage-link interwiki-diq"><a href="https://web.archive.org/web/20180804235336/https://diq.wikipedia.org/wiki/OPEC" title="OPEC – Zazaki" lang="diq" hreflang="diq" class="interlanguage-link-target">Zazaki</a></li><li class="interlanguage-link interwiki-bat-smg"><a href="https://web.archive.org/web/20180804235336/https://bat-smg.wikipedia.org/wiki/OPEC" title="OPEC – Samogitian" lang="bat-smg" hreflang="bat-smg" class="interlanguage-link-target">Žemaitėška</a></li><li class="interlanguage-link interwiki-zh"><a href="https://web.archive.org/web/20180804235336/https://zh.wikipedia.org/wiki/%E7%9F%B3%E6%B2%B9%E8%BE%93%E5%87%BA%E5%9B%BD%E7%BB%84%E7%BB%87" title="石油输出国组织 – Chinese" lang="zh" hreflang="zh" class="interlanguage-link-target">中文</a></li><li class="interlanguage-link interwiki-kbp"><a href="https://web.archive.org/web/20180804235336/https://kbp.wikipedia.org/wiki/OPEP_%C5%8Bgb%C9%9By%C9%9B" title="OPEP ŋgbɛyɛ – Kabiye" lang="kbp" hreflang="kbp" class="interlanguage-link-target">Kabɩyɛ</a></li> </ul> <div class="after-portlet after-portlet-lang"><a href="https://web.archive.org/web/20180804235336/https://www.wikidata.org/wiki/Special:EntityPage/Q7795#sitelinks-wikipedia" title="Edit interlanguage links" class="wbc-editpage">Edit links</a></div> </div> </div> </div> </div> <div id="footer" role="contentinfo"> <ul id="footer-info"> <li id="footer-info-lastmod"> This page was last edited on 17 July 2018, at 02:34 (UTC).</li> <li id="footer-info-copyright">Text is available under the <a 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