OPEC

American

[oh-pek] / ˈoʊ pɛk /

noun

an organization founded in 1960 of nations that export large amounts of petroleum: formed to establish oil-exporting policies and set prices.

OPEC British

/ ˈəʊˌpɛk /

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

Etymology

Origin of OPEC

O(rganization of ) P(etroleum) E(xporting) C(ountries)

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

Croft: I don’t think it’s the end of OPEC.

From Barron's • May 15, 2026

Oil production increases set the U.A.E. on a collision course with OPEC.

From Barron's • May 4, 2026

This week provided an example, with the United Arab Emirates saying they were leaving OPEC, thus freeing the country to increase oil exports without seeking agreement among cartel members.

From MarketWatch • May 1, 2026

The U.A.E. has practical reasons to pull out of OPEC.

From The Wall Street Journal • Apr. 30, 2026

It possesses more than 20% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC.

From The 2008 CIA World Factbook by United States. Central Intelligence Agency

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023