OPEC

The Organization of the Petroleum Exporting Countries (OPEC) is made up of Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela; since 1965, its international headquarters have been in Vienna, Austria. The principal aim of the Organization, according to its Statute, is the coordination and unification of the petroleum polices of its member countries and the determination of the best means for safeguarding their interests, individually and collectively; devising ways and means of ensuring the stabilization of prices in international oil markets with a view to eliminating harmful and unnecessary fluctuations; giving due regard at all times to the interests of the producing nations and to the necessity of securing a steady income to the producing nations, an efficient, economic and regular supply of petroleum to consuming nations, and a fair return on their capital to those investing in the petroleum industry.

Oil-producing non-members

Some non-OPEC oil-producing nations are:

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• In Europe: Azerbaijan, Norway, Russia and the UK.
• In North America: Canada, Mexico and the United States.
• In the Middle East: Oman and Yemen.
• In Africa: Angola and Equatorial Guinea