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OPEC

[ oh-pek ]
/ ˈoʊ pɛk /
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noun

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

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Origin of OPEC

O(rganization of) P(etroleum)E(xporting)C(ountries)
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2021

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British Dictionary definitions for OPEC

OPEC
/ (ˈəʊˌpɛk) /

n acronym for

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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