Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
Cultural definitions for Organization of Petroleum Exporting Countries
An organization of about a dozen nations that sell oil to other nations. The purpose of OPEC, a cartel, is to control the production of oil and to establish favorable oil prices for the member nations. Most OPEC countries, such as Libya and Saudi Arabia, are in the Middle East or northern Africa, but Indonesia and Venezuela are members as well.
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.