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Organization of the Petroleum Exporting Countries

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The Organization of the Petroleum Exporting Countries (OPEC) is an international organization. Since 1965, the headquarters of OPEC is in Vienna, Austria.


12 countries are members of OPEC.[1] The names of these countries are:

  1. Algeria
  2. Angola
  3. Indonesia
  4. Iran
  5. Iraq
  6. Kuwait
  7. Libya
  8. Nigeria
  9. Qatar
  10. Saudi Arabia
  11. The United Arab Emirates
  12. Venezuela.


Member countries of the OPEC came together to form this international organization with several aims. Some of the aims are:

  • To protect the interest of the member countries.
  • To make sure that the price of petroleum products do not change much.
  • To make certain a regular supply of petroleum oil to other countries.
  • To make sure that member countries get the right amount of money from sale of oil products.
  • To decide policies to follow relating to production and sale of petroleum oil.

However, OPEC has not always been able to achieve all these aims.

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