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Land (sq kms)
Oil prod (000s b/d)
Gas prod (bcm/yr)
Oil cons (000s b/d)
Gas cons (bcm/yr)
The Organization of Petroleum Exporting Countries (OPEC) is an inter-governmental group created in 1960 by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. It was later joined by 11 other countries and moved from Geneva to Vienna in 1965.
The Secretariat is the executive organ of OPEC in Vienna. It is responsible for the implementation of resolutions passed by the Conference, carries out decisions made by the Board of Governors, and conducts research.
The Secretariat consists of the Secretary General (CEO) and staff arranged into a Legal Division, Research Division and Support Services Division.
OPEC's main objectives are to co-ordinate member oil policies in order to secure stable prices for exporters whilst ensuring regular supply to consumers and a fair return for investors.
The organisation, as a swing producer, tries to do this by agreeing an oil price and restricting or releasing output (shared out on the basis of reserves) to match demand at that price.
Ecuador left the group in 1992, then rejoined in 2007 before leaving again in 2019. Gabon left the group in 1994 and rejoined in 2016. Indonesia left in 2008, rejoined in 2015 but was then suspended in 2016 for failing to agree on output cuts. Qatar left in 2018.
Meanwhile Angola, Equatorial Guinea and Congo-Brazzaville joined OPEC in 2007, 2017 and 2018 respectively. The OPEC+ countries, led by Russia, first agreed to try to work with OPEC on restrictions at the end of 2017.
A founder member of OPEC
Saudi Arabia (1960)
Indonesia (1962-2008, 2015*, 2016**)
United Arab Emirates (1967)
Ecuador (1973-1992, 2007*-2019)
Gabon (1975-1994, 2016*)
Equatorial Guinea (2017)
Congo -Brazzaville (2018)
** suspended after failing to agree on production cuts
Excel files - histories and forecasts of production and wells for all countries and regions