Synonyms for OPEC
ˈoʊ pɛkopec

Princeton's WordNet

1. Organization of Petroleum-Exporting Countries, OPECnoun

   an organization of countries formed in 1961 to agree on a common policy for the production and sale of petroleum

Matched Categories

1. • Oil Cartel
   • World Organization

Suggested Resources

1. OPEC

   What does OPEC stand for? -- Explore the various meanings for the OPEC acronym on the Abbreviations.com website.

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How to use OPEC in a sentence?

1. Olivier Jakob:

   Some have described the OPEC November meeting as the death of OPEC and it is true that the lifting of sanctions on Iran will create a major issue for Saudi Arabia, Kuwait and the UAE, they already have an issue with Iraq increasing production and they will now have to face Iran that will consider itself, like Iraq, not bound by any quota for many years.

2. Bijan Zanganeh:

   OPEC is producing more than its ceiling and I asked them to reduce production and respect the ceiling, but it doesn't mean that we don't produce more because it is our right to return to the market and to preserve our rights and our share in the market.

3. Russian Energy Minister Alexander Novak:

   We highly value our interaction within consultations on the situation in the oil market between OPEC and leading non-OPEC producers.

4. Ben Cahill:

   All eyes are on the August 3 OPEC+ meeting. If the Saudis and the UAE want to raise output, they will do it via OPEC+. But we have to keep in mind the demand picture is softening. I’m not sure these countries are convinced the market needs more crude supply.

5. George Saroglou:

   The fall in the price of oil has helped tanker demand and has helped tanker earnings significantly, this OPEC overproduction has helped. You had more demand coming out and also you had more demand to store the cheap oil.