OPEC

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OPEC

 (ō′pĕk′)
abbr.
Organization of Petroleum Exporting Countries
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

OPEC

(ˈəʊˌpɛk)
n acronym for
(Commerce) Organization of Petroleum-Exporting Countries: an organization formed in 1961 to administer a common policy for the sale of petroleum. Its members are Algeria, Angola, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. Ecuador and Gabon were members but withdrew in 1992 and 1995 respectively
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014

OPEC

(ˈoʊ pɛk)

n.
Organization of Petroleum Exporting Countries.
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.OPEC - an organization of countries formed in 1961 to agree on a common policy for the production and sale of petroleum
oil cartel - a cartel of companies or nations formed to control the production and distribution of oil
Algeria, Algerie, Democratic and Popular Republic of Algeria - a republic in northwestern Africa on the Mediterranean Sea with a population that is predominantly Sunni Muslim; colonized by France in the 19th century but gained autonomy in the early 1960s
Arab Republic of Egypt, Egypt, United Arab Republic - a republic in northeastern Africa known as the United Arab Republic until 1971; site of an ancient civilization that flourished from 2600 to 30 BC
Bharat, India, Republic of India - a republic in the Asian subcontinent in southern Asia; second most populous country in the world; achieved independence from the United Kingdom in 1947
Dutch East Indies, Indonesia, Republic of Indonesia - a republic in southeastern Asia on an archipelago including more than 13,000 islands; achieved independence from the Netherlands in 1945; the principal oil producer in the Far East and Pacific regions
Iran, Islamic Republic of Iran, Persia - a theocratic Islamic republic in the Middle East in western Asia; Iran was the core of the ancient empire that was known as Persia until 1935; rich in oil
Al-Iraq, Irak, Iraq, Republic of Iraq - a republic in the Middle East in western Asia; the ancient civilization of Mesopotamia was in the area now known as Iraq
State of Kuwait, Koweit, Kuwait - an Arab kingdom in Asia on the northwestern coast of the Persian Gulf; a major source of petroleum
Libya, Socialist People's Libyan Arab Jamahiriya - a military dictatorship in northern Africa on the Mediterranean; consists almost entirely of desert; a major exporter of petroleum
Katar, Qatar, State of Katar, State of Qatar - an Arab country on the peninsula of Qatar; achieved independence from the United Kingdom in 1971; the economy is dominated by oil
Kingdom of Saudi Arabia, Saudi Arabia - an absolute monarchy occupying most of the Arabian Peninsula in southwest Asia; vast oil reserves dominate the economy
United Arab Emirates - a federation of seven Arab emirates on the eastern Arabian peninsula; achieved independence from the United Kingdom in 1971; rich in oil reserves
Republic of Venezuela, Venezuela - a republic in northern South America on the Caribbean; achieved independence from Spain in 1811; rich in oil
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
Translations
OPEC

OPEC

[ˈəʊpek] N ABBR =Organization of Petroleum-Exporting CountriesOPEP f
Collins Spanish Dictionary - Complete and Unabridged 8th Edition 2005 © William Collins Sons & Co. Ltd. 1971, 1988 © HarperCollins Publishers 1992, 1993, 1996, 1997, 2000, 2003, 2005

OPEC

[ˈəʊpɛk] n abbr (=Organization of Petroleum-Exporting Countries) → OPEP f(= Organisation des pays exportateurs de pétrole)op-ed page n (US)tribune f libre
Collins English/French Electronic Resource. © HarperCollins Publishers 2005

OPEC

abbr of Organization of Petroleum Exporting CountriesOPEC f; OPEC countryOPEC-Land nt
Collins German Dictionary – Complete and Unabridged 7th Edition 2005. © William Collins Sons & Co. Ltd. 1980 © HarperCollins Publishers 1991, 1997, 1999, 2004, 2005, 2007

OPEC

[ˈəʊpɛk] n abbr =Organization of Petroleum-Exporting CountriesO.P.E.C. f
Collins Italian Dictionary 1st Edition © HarperCollins Publishers 1995
References in periodicals archive ?
Members of the OPEC cartel and allies including Russia decided last month to reduce output by 1.2 million barrels per day (bpd) after prices fell by more than 40 percent in just a few weeks in late 2018.
The picture came amid reports that Russia and Saudi Arabia have agreed to curtail oil production when the OPEC cartel meets in Vienna.
The 15-member OPEC cartel has agreed to reduce its output by 800,000 bpd, while Russia and the allied producers will contribute a 400,000 bpd reduction.
Oil prices spiked sharply higher Friday as major oil producers, including the OPEC cartel, agreed to cut global oil production by 1.2 million barrels a day to reduce oversupply.
On Monday, the oil price jumped more than 2 percent to more than $80 per barrel for the benchmark Brent crude, a four-year high attributed to Saudi Arabia's reluctance to persuade the OPEC cartel to agree to a production increase at the weekend's oil summit in Algiers.
In the early 1970s, the OPEC cartel became increasingly active against American and Dutch oil giants.
The OPEC cartel recently agreed to pump 1 million barrels more crude oil per day.
The 14-nation OPEC cartel and its 10 non-member partner nations, known as OPEC+, together account for more than 50 percent of the world's oil supply, giving them huge sway over the global market.
Oil prices rose to rather abnormal highs the past few months because of production caps imposed by the OPEC cartel. Those production cuts were supported by Russia, a major oil supplier not formally affiliated with the cartel.
Iran has an important role to play here: it is the third biggest oil producer of Opec cartel, and leading up to this event, we have witnessed panic amidst traders who pushed the price of oil higher.
The price of oil edged lower, drifting 0.1% to $65.51 a barrel, as traders responded to efforts from the Opec cartel and Russia to keep enforcing output cuts despite America's booming shale industry.