Organization of Arab Petroleum Exporting Countries
Kuwait-based energy policy coordinating organization / From Wikipedia, the free encyclopedia
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The Organization of Arab Petroleum Exporting Countries (OAPEC; Arabic: منظمة الأقطار العربية المصدرة للبترول) is a multi-governmental organization headquartered in Kuwait which coordinates energy policies among oil-producing Arab nations. OAPEC's primary objective is safeguarding the cooperation of numerous members in various aspects of economic activity within the oil industry as well as maintaining strong relations among themselves; to provide legitimate means to preserve the members' individual and collective efforts within the industry; unite on-going efforts for the procurement of oil; provide access to consumer markets on fair and reasonable terms; and provide conditions, adequate capital, and experience of investors in the oil industry.
Organization of Arab Petroleum Exporting Countries | |
---|---|
Administrative center | Kuwait |
Official language | Arabic |
Type | Intergovernmental organization |
Membership | Algeria Bahrain Egypt Iraq Kuwait Libya Qatar Saudi Arabia Syria United Arab Emirates Tunisia |
Leaders | |
• Secretary General | Jamal Essa Al Loughani |
Establishment | January 9, 1968; 56 years ago (1968-01-09) |