OPEC: Organization of the Petroleum Exporting Countries
The full form OPEC is “Organization of the Petroleum Exporting Countries“. It is a group consisting of 14 of the world’s major oil-exporting nations. The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. OPEC had its headquarters in Geneva, Switzerland, in the first five years of its existence. This was moved to Vienna, Austria, on September 1, 1965. OPEC’s objective is to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry. The formation of Organization of the Petroleum Exporting Countries (OPEC) marked a turning point toward national sovereignty over natural resources, and OPEC decisions have come to play a prominent role in the global oil market and international relations. The effect can be particularly strong when wars or civil disorders lead to extended interruptions in supply.
Other popular full forms of OPEC
| Full Form | Category |
|---|---|
| Office Of Petrol And Electricity Consumption | Miscellaneous |
| Office of Prevention, Education and Control | State & Local |
| Office of Programs for Exceptional Children | General |
| OFI Private Equity Capital | General |
| Ohio Prevention and Education Conference | Conferences |
| Oil and Petroleum Exporting Countries | Energy |
| Oil Producing Exporting Countries | Countries |
| Oil Profits Eat Consumers | Miscellaneous |
| Old People Eat Cake | Miscellaneous |
| Ongoing Petrol Energy Crisis | Miscellaneous |
| Only People Eat Cows | Miscellaneous |
| Open Patios Expect Chairs | Miscellaneous |
| Orange Pineapples Enter Contests | Miscellaneous |
| Ordinary People Expecting Change | Miscellaneous |
| Organization of People for Energy Conservation | Miscellaneous |
| Organization of Preppies that Eat Cheese | Miscellaneous |
| Organization of the Petroleum Exporting Countries | Professional Organizations |
| Overflowing Porta-potties Excrete in China | Miscellaneous |
| Overly Protective Egyptian Caskets | Miscellaneous |