OPEC English

Meaning OPEC meaning

What does OPEC mean?

OPEC

— noun (= Organization of Petroleum-Exporting Countries) an organization of countries formed in 1961 to agree on a common policy for the production and sale of petroleum

Synonyms OPEC synonyms

What other words have the same or similar meaning as OPEC?

OPEC English » English

Organization of Petroleum Exporting Countries

Organization of the Petroleum Exporting Countries

Organization of Petroleum-Exporting Countries

Organisation of Petroleum Exporting Countries

Examples OPEC examples

How do I use OPEC in a sentence?

Movie subtitles

OPEC in Guiana.

Oil ministers of the OPEC nations meeting in Vienna. still haven't decided how much to increase the price of oil.

Today's top story concerns a meeting of OPEC ministers in Tehran yesterday.

If I had any more diesel fuel, they'd make me join that OPEC.

OPEC raid, Vienna.

What did she do in the OPEC raid?

They placed a huge defence contract with us, they tell us about the Soviets in Iraq, they even sabotage OPEC agreements for us.

You've got the OPEC thing.

OPEC has been very precise in its policy.

It's the oPEC conference, so we wait.

I'm afraid my associates have a plan to lobby OPEC for drilling rights.

Something major on the OPEC talks.

Was behind the hostage-taking of the OPEC ministers in Geneva.

There's gas reserves off the Ivory Coast that OPEC doesn't know about.

Gun control, Patty Hearst affidavit. Guerrillas in Chad, OPEC in Vienna.

Oil ministers of the OPEC nations meeting in Vienna still haven't decided how much more to increase the price of oil.

The 13 nations of OPEC have still not been able to decide by how much to increase the price of oil.

The latest hike in OPEC oil. That son of a bitch has a bigger telescope than we have.

If I had any more diesel fuel. I'd have to join that APEC, OPEC.

Sure, we can let OPEC put the screws on us till our eyes water, or we can do it the American way.

I see. I read the OPEC ministers have a meeting in Sao Paolo.

Listen, there are gas reserves off the Ivory Coast that OPEC doesn't even know about.

OPEC exaggerated how much oil it's got left, for all sorts of political reasons.

OPEC countries do not care about what might happen 20 years from now, or 30 years or 40 years, they care about what they get now today.

Middle East and OPEC countries were angry about the 1973 war in Israel and they embargoed the oil.

Yeah, well, thank God for OPEC.

I read the OPEC report, and I was thinking, if we hedge our position on oil, we could really.

Yemen is not an OPEC nation.

But they're both collecting intel on OPEC, not the Ansari family.

OPEC, Pinochet, the fucking Food Stamp Act, then the motherland sang her mating call.

News and current affairs

It is also important to bear in mind that in 1973, the US suffered less from the OPEC oil embargo than Europe did, even though America, which had resupplied Israel in its war with Egypt and Syria in October of that year, was the primary target.

Speculative pressures are likely to have been at work, influencing the decisions of OPEC and many others.

Even more staggeringly, US borrowing now soaks up more than two-thirds of the combined excess savings of all the surplus countries in the world, including China, Japan, Germany, and the OPEC states.

Recall that the OPEC oil shocks of the 1970's incited two world recessions.

Others cite OPEC's failure to agree on supply restrictions.

When the Chinese premier, OPEC heads of state, and the world's richest supermodel all express concern about the dollar, you can be sure we are in for a bumpy ride.

OPEC might be correct to blame American policies and speculators for higher prices.

It is also correct that if OPEC had excess capacity, it would have already used it to flush out speculators to bring oil prices down.

Recourse to the latter option means that, even without excess capacity, OPEC can still be in the driver's seat.

It is therefore vulnerable to price fluctuations, and has to follow the lead of Saudi Arabia and other big OPEC producers.

The drop in oil prices after the mid-1980's is said to be due to the collapse of the OPEC oil cartel.

Venezuela now pines for the fat OPEC years of the 1970s--which it missed, because it neglected to develop its oil industry.

With this new source meeting more of world energy demand, particularly in the US, energy users were no longer as dependent on OPEC and other oil producers.

Non-traditional suppliers had increased their market influence, non-OPEC producers continued to plan high output, and some OPEC members failed to adhere to their production ceilings.

Indeed, because oil prices were rising while the dollar was declining, capacity expansion by oil firms failed to meet forecasts for non-OPEC production in the last three years.

At an OPEC meeting in the run-up to the election, the group's dominant producer, Saudi Arabia, shelved plans to restrict oil production to counteract the rapid decline in world prices, allowing them to continue to fall.

Adding to the supply-side changes was Saudi Arabia's subsequent historic announcement that it would no longer lead OPEC in playing the role of swing producer.

Today, with Iran starved of technology and spare parts for existing equipment, OPEC's second-largest oil producer in 2006 has become a net importer of refined petroleum products.

The price rises that followed OPEC's oil embargoes of the 1970's were unsustainable and led to conservation efforts and expansion of non-OPEC production.

As a result, OPEC's share of world oil exports dropped sharply in the twelve years following the embargo of 1973-1974.