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


Investor Glossary | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
Investor Glossary Index >>> # 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 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
Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
©2004-2014 Investor Glossary - All rights reserved - Terms of Use