Organization of the Petroleum Exporting Countries (OPEC) Founded in 1960, the Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental organization with a mission to coordinate and unify the petroleum policies of member countries and ensure the stabilization of oil prices 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
What’s the future of OPEC? - The World Economic Forum OPEC will continue to meet and hold itself out as a cartel that can control the oil markets, but that time has passed The cartel was dependent upon Saudi Arabia to use its outsized swing position to control spare capacity in the market
Mohammed Al-Jadaan - Agenda Contributor | World Economic Forum He also represents the Kingdom as a member of the Ministerial Council of the OPEC Fund for International Development (OFID), the IMF Board of Governors, the World Bank Board of Governors, the Board of Governors of the Islamic Development Bank, and the Board of Governors of the Arab Monetary Fund
How does the war in Ukraine affect oil prices? Russia's invasion of Ukraine inflated oil prices even further to well over $110 per barrel We outline the impact on oil prices and the energy transition