Blog that you should follow that writes definitions regarding opec opec, which stands for the organization of the petroleum exporting countries, is a group that consists of oil-producing nations that export petroleum. The Organization of the Petroleum Exporting Countries (OPEC) is a permanent intergovernmental organization that was established through the Baghdad Conference on the 10-14 September 1960 by five countries with enormous oil resources. These countries are Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. One year later, other nations that are interested in joining opec started to emerge. They consist of 9 different nations. qatar was the first country to join in 1961, followed by indonesia in 1962 (although indonesia has suspended its membership from january 2009 to the present), libya in 1962, the United Arab Emirates in 1967, algeria in 1969, nigeria in 1971, ecuador in 1973 (although ecuador suspended its membership from december 1992 until october 2007), angola in 2007, and gabon from 1975 to 1994. The objective of the Organization of the Petroleum Exporting Countries (opec) is to coordinate and unify petroleum policies among member countries and to ensure the stabilization of oil markets. This is done in order to secure the supply of petroleum that is efficient, economical, and regular to consumers, as well as a stable income for producers and a fair return on capital for those who invest in the petroleum industry. opec’s headquarters were located in Geneva, Switzerland, throughout the first five years of the organization’s existence. After that, on September 11, 1965, they made the transfer to Vienna, Austria, where they have remained till the present day. Since its inception in 1960 to the present day, the opec has played a significant part in the process of preserving the equilibrium of the global economy. You may be interested in reading these articles: 1. post on a blog that you follow and offer a definition about the prehistoric 2. a blog that you should follow that is on the definition of camouflage 3. Follow this link to a blog discussing the definition of economics
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