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Organization of the Petroleum Exporting Countries
Coalition of the world's oil-producing nations that manages global oil production levels and market stability
Key Insights
The Organization of the Petroleum Exporting Countries (OPEC) is an international organization founded by oil-producing nations. Its primary objective is to coordinate and regulate the production and pricing of petroleum to collectively influence the global oil market and maximize profit. OPEC seeks to balance the interests of both producers and consumers by managing oil supply to maintain reasonable prices. Its decisions play a significant role in the global oil markets and international relations.
Cite this brief
Mathis, P. (2023). Organization of the Petroleum Exporting Countries. EPIS Insight · Security Policy & Defence.
