Investor Glossary-opecInvestor Glossary-opecInvestor Glossary-opecInvestor Glossary-opecInsightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

OPEC

The HTML to link to this page
 

OPEC is the Organization of the Petroleum Exporting Countries. OPEC was founded in 1960 by Saudi Arabia, Iran, Iraq, Kuwait, and Venezuela. Other mostly underdeveloped countries have at joined (and sometimes quit) OPEC. OPEC acts as an oil cartel, trying to fix prices by controlling output, primarily through production quotas. OPEC members control about two-thirds of the world's estimated reserves of oil. OPEC members produce perhaps 40% of global output and, more importantly, around 50% of exports. OPEC rose to prominence in 1973 because of its embargo against exports to nations that supported Israel in its war with Egypt and Syria. Saudi Arabia is recognized as the linchpin of the enduring success of OPEC. In many cases Saudi Arabia has tolerated quota cheating by other OPEC members and lowered its own production to raise prices. Thus when Saudi Arabia wants to lower prices it tends to be able since it is likely to be the only OPEC member with spare capacity.



Rate this OPEC definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: 401a, real GDP, inflation, command economy, in escrow, cancelled check, ex-dividend, 1035 exchange, required rate of return, Key Rate Duration, stock market close, margin rate, average price per share, current ratio, deferred tax, Zero Cost Collar, stock split, EBITDA, implied volatility, LIBOR, balance sheet, risk management, FTSE, deferred revenue, per diem, labor relations, retained earnings, debt service coverage, phantom income, ex-dividend date, liquidity ratio, FICO score, 1031 exchange, annual return, option premium, covered put, 144a, wholly-owned subsidiary, irrevocable trust, APR, reverse mortgage, minority interest, open position, VIX, quality assurance, class C shares, dividends payable, limit order, diluted share


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Investor Glossary | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
©2004-2016 Investor Glossary - All rights reserved - Terms of Use