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[oh-pek] /ˈoʊ pɛk/
an organization founded in 1960 of nations that export large amounts of petroleum: formed to establish oil-exporting policies and set prices.
Origin of OPEC
O(rganization of) P(etroleum) E(xporting) C(ountries) Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2018.
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noun acronym
Organization of Petroleum-Exporting Countries: an organization formed in 1961 to administer a common policy for the sale of petroleum. Its members are Algeria, Angola, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. Ecuador and Gabon were members but withdrew in 1992 and 1995 respectively
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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Word Origin and History for OPEC

initialism for Organization of Petroleum-Exporting Countries, founded 1960.

Online Etymology Dictionary, © 2010 Douglas Harper
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