Organization of the Petroleum Exporting Countries | Mamamimi Me

The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization that coordinates energy policies among its 13 member states. OPEC's primary objective is to safeguard the cooperation of its members in various aspects of the oil industry, maintaining strong relations and providing legitimate means to preserve individual and collective efforts. With its headquarters in Vienna, Austria, OPEC plays a significant role in shaping global energy policies. OPEC's decisions are influenced by global events, such as changes in demand and geopolitical tensions. The COVID-19 pandemic has led to a significant decline in oil demand and prices.