Organization+of+the+Petroleum+Exporting+Countries


 * History **

The Organization of the Petroleum Exporting Countries (OPEC) was founded in September of 1960 by the signing of an agreement that took place in Baghdad, Iraq. There are five original founders, the Republic of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The purpose of OPEC is to coordinate the efforts and policies of its member states thus keeping the equilibrium between consumers, producers, and investors for the benefit of all involved in the petroleum industry. For further information regarding OPEC's history, go to its official page: [].


 * Member states **

There are 12 member states in OPEC today. They consist of the Republic of Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Libya, the United Arab Emirates, Algeria, Nigeria, Ecuador, and Angola. The founding members are considered to hold the most power since they decide who may join the organization.




 * Purposes/Goals/Objectives **

In agreement with the OPEC statute, “the mission of the Organization of the Petroleum Exporting Countries (OPEC) is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry.” For more information on the goals of OPEC, go to [].


 * Structure **

The Secretariat, the executive body, also functions as the Headquarters for OPEC.It carries out resolutions passed by the Conference and carries out all decisions made by the Board of Governors. It also conducts research, the results of which influence decision-making. It consists of the Office of the Secretary General, the Legal Office, the Research Division and the Support Services Division.The Research Division then further divided into Data Services, Petroleum Studies, and Energy Studies departments. The Support Services Division is comprised of Public Relations & Information, Finance & Human Resources and Administration & IT Services departments. For extended information on the structure of OPEC, go to [].


 * Advantages of Joining **


 * Coordination of other petroleum producing states
 * Having an influence on world economy
 * Better relations with other member states


 * Disadvantages of Joining **


 * Pressure from outside forces influencing decision-making
 * Have to agree with the policies made by others
 * If something goes wrong, it influences all in involved


 * Effects on Local Diversity **

OPEC doesn’t really affect local diversity. It does make it so that individual states have to comply to a single set of policies concerning petroleum, a huge factor in their economies. This doesn’t really affect the culture or customs of a state, though. It’s main agenda is economic.



The Organization of the Petroleum Exporting Countries. (2012). Our Mission. Retrieved from:[]

The Organization of the Petroleum Exporting Countries. (2012). Member Countries. Retrieved from:[]

The Organization of the Petroleum Exporting Countries. (2012). Secretariat. Retrieved from:[]