| 单词 | Organization of Petroleum Exporting Countries |
| 释义 | Organization of Petroleum Exporting Countries = (OPEC) An organization of oil producing countries, set up to coordinate their policies in negotiating with the oil companies. Since 1973 OPEC has attempted to operate a world oil-exporting cartel, setting an agreed price and allocating export quotas. The members of OPEC have included Algeria, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates (UAE) and Venezuela. OPEC's members have had difficulties in agreeing and policing a joint monopoly policy, and the real price of oil has fluctuated considerably since the 1970s. |
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