Are you looking for The meaning and full form of OPEC And what does OPEC stand for? Well, We are going to learn about the definition and meaning of OPEC, the abbreviations of OPEC acronyms, and OPEC meaning in Hindi. So you should read this post till the end?
The Full Form of OPEC » Organization of the Petroleum Exporting Countries
OPEC Stands for Organization of the Petroleum Exporting Countries. The Organization of the Petroleum Exporting Countries (OPEC), is an international cartel of petroleum exporters that meets regularly to discuss the price of oil and other matters. The organization’s original purpose was to stabilize the international oil markets. The cartel was established in 1960 by the agreement of nine countries, and the first OPEC meeting was held in September 1960 in Geneva, Switzerland.
OPEC Members, Establishment, Headquarters, and Purpose
- OPEC’s headquarters were in Switzerland at the time of its formation. In the year 1965, its headquarter was established in Vienna, Austria.
- OPEC was established in September 1960 by Baghdad, Iraq, and its seven states, the major oil-exporting countries: Algeria, Ecuador, Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela.
- It is estimated that this country produces 75 percent of the world’s oil.
- 15 countries in the world are members of OPEC, its members are Venezuela, United Arab Emirates, Saudi Arabia, Nigeria, Libya, Kuwait, Iran, Iraq, Gabon, Guinea, Ecuador, Qatar, Congo, Angola, and Algeria.
- If crude oil is increased by $10 per barrel, WPI-based inflation increases by 1.7 percent, GDP by 0.2-0.3 percent, and the current account deficit increase by $9-10 billion.
OPEC is used as an acronym to represent the Organization of the Petroleum Exporting Countries. now you might have got some idea about the abbreviation, acronym, Full form, and meaning of OPEC.
What does mean OPEC?
In the above article, we have discussed OPEC full form, meaning, and definition. Now we are going to discuss some FAQs that are frequently asked on the internet. So there are many FAQs on the full form of OPEC. let’s explore some of them.
What is the full form of OPEC?
The Full Form of OPEC is ”Organization of the Petroleum Exporting Countries“ The Definition of OPEC and all possible meanings are given above, You might also like some similar terms related to OPEC.
What does OPEC stand for?
OPEC stands for ”Organization of the Petroleum Exporting Countries“. But there may be more than one meaning of OPEC, so check out all meanings of OPEC in the Above post section.
What does OPEC mean?
OPEC is an acronym that means ”Organization of the Petroleum Exporting Countries“. you can read Most used OPEC Full Form Meaning. check out related information in the above section.
What is the OPEC Meaning in Hindi
The OPEC meaning in Hindi is ”पेट्रोलियम निर्यातक देशों का संगठन“. It may be more than one Meaning of OPEC so check out one by one in the above section.
OPEC ka full form in Hindi
OPEC ka full form in Hindi is ”पेट्रोलियम निर्यातक देशों का संगठन“. It has many other Full Forms there are listed Above.
What is the abbreviation of OPEC
OPEC is an acronym for ”Organization of the Petroleum Exporting Countries“. The Definition & Meaning of OPEC in Different Categories discussed above.
In this post, we discussed all the important things about What is the meaning of OPEC. You will not only get all the possible OPEC Full Form & Meaning. But also get various acronyms, abbreviations, and the meaning and full form of OPEC with definitions.