OPEC+

Extracted Attributes

• Type

  International intergovernmental organization

• Wikidata ID

  Q121826282

• Headquarters

  Helferstorferstraße 17, Vienna, 1010, Austria

• Market Share

  Approximately 38 percent of global oil production (OPEC core members)

• Membership Size

  23 countries (12 OPEC members and 11 non-OPEC members)

• Primary Objective

  Coordination and unification of petroleum policies to stabilize international oil markets

• Secretary General

  Haitham al-Ghais

Timeline

• OPEC is founded in Baghdad, Iraq, by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. (Source: Web search results)

  1960-09-14

• OPEC headquarters is moved from Geneva, Switzerland, to Vienna, Austria. (Source: Web search results)

  1965-01-01

• OPEC+ countries announce additional voluntary oil production adjustments. (Source: Web search results)

  2023-04-01

• OPEC+ countries announce further voluntary oil production adjustments to stabilize the market. (Source: Web search results)

  2023-11-01

• OPEC+ begins monitoring overproduced volumes for compensation by member countries. (Source: Web search results)

  2024-01-01

• Eight OPEC+ countries meet virtually to review global market conditions and future outlook. (Source: Web search results)

  2025-03-03

• OPEC+ members meet virtually to review market conditions and the impact of production cuts. (Source: Web search results)

  2025-07-05

• The 61st Meeting of the Joint Ministerial Monitoring Committee (JMMC) is held via videoconference. (Source: Web search results)

  2025-07-28

• OPEC+ countries meet virtually to review global market conditions and outlook. (Source: Web search results)

  2025-08-03

• Eight OPEC+ countries reaffirm their commitment to market stability and adjust production targets. (Source: Web search results)

  2025-10-05

• Scheduled meeting for eight OPEC+ countries to review market conformity and compensation. (Source: Web search results)

  2025-11-02

Web Search Results

• OPEC - Wikipedia

  The Organization of the Petroleum Exporting Countries (OPEC/ˈ oʊ p ɛ k/_OH-pek_) is an organization enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize profit "Profit (economics)"). It was founded on 14 September 1960 in Baghdad by the first five members: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The organization, which currently comprises 12 member countries, accounted for 38 percent of [...] In October 1973, the Organisation of Arab Petroleum Exporting Countries (OAPEC, consisting of the Arab majority of OPEC plus Egypt and Syria) declared significant production cuts and an oil embargo against the United States and other industrialized nations that supported Israel in the Yom Kippur War.( A previous embargo attempt was largely ineffective in response to the Six-Day War in 1967.( However, in 1973, the result was a sharp rise in oil prices and OPEC revenues, from US$3/bbl to [...] | Image 10: Flag of OPEC Flag Image 11: Emblem of OPEC Emblem | | Image 12: OPEC and OPEC+ members OPEC and OPEC+ members | | Headquarters | Vienna, Austria | | Official languages | English | | Type | Organization( | | Membership | 12 OPEC members 11 OPEC+ members 5 observer states See §Membership | | Leaders | | | | •Secretary General | Haitham al-Ghais | | | | Establishment | Baghdad, Iraq | | | | •Statute | September 1960 (65 years ago)(September 1960) |

• Organization Of The Petroleum Exporting Countries (OPEC)

  The Organization of the Petroleum Exporting Countries (OPEC) is a permanent intergovernmental organization of oil-exporting developing nations that coordinates and unifies the petroleum policies of its Member Countries. OPEC seeks to ensure the stabilisation of oil prices in the international oil markets, with a view to eliminating harmful and unnecessary fluctuations, due regard being given at all times to the interests of oil-producing nations and to the necessity of securing a steady income [...] # Organization Of The Petroleum Exporting Countries (OPEC) [...] Currently, the Organization comprises 15 Member Countries – namely Algeria, Angola, Congo, Ecuador, Equatorial Guinea, Gabon, IR Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela. ## Organization of the Petroleum Exporting Countries (OPEC) Helferstorferstrasse 17, A-1010 Vienna, Austria Visit the OPEC website.

• Glossary:Organization of the Petroleum Exporting Countries ...

  The Organization of Petroleum Exporting Countries, abbreviated as OPEC, is a global organisation devoted to ensuring stability and shared control of the petroleum markets. OPEC was established in September 1960 and formally constituted in January 1961. The headquarters, originally in Geneva, were moved to Vienna in 1965. OPEC members are: Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela. [...] ## Further information Organization of the Petroleum Exporting Countries ## Related concepts World Trade Organization) Retrieved from "" Categories: Energy glossary Glossary International organisations glossary

• OPEC+ - Organization of the Petroleum Exporting Countries

  The eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation. The eight countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that will be monitored by the Joint Ministerial Monitoring Committee (JMMC). [...] They also confirmed their intention to fully compensate for any overproduced volume since January 2024. The eight OPEC+ countries will hold monthly meetings to review market conditions, conformity, and compensation. The eight countries will meet on 2 November 2025. [...] ### Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to market stability on current healthy oil market fundamentals and steady global economic outlook and adjust production The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 5 October 2025, to review global market conditions and outlook

• Press Releases

  03 August 2025 | Via Videoconference The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 3 August 2025, to review global market conditions and outlook. Read more 61st Meeting of the Joint Ministerial Monitoring Committee 28 July 2025 | Via Videoconference [...] The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman met virtually on March 3, 2025, to review global market conditions and the future outlook. Read more 4th Meeting of the OPEC – Africa Energy Dialogue 25 February 2025 | Abuja, Nigeria [...] The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 5 July 2025, to review global market conditions and outlook. Read more Milestone 60th Edition of OPEC's Annual Statistical Bulletin (ASB- 2025) launched on 2 July 2025 2 July 2025 | Vienna, Austria

• Instance Of

  Q179216