Trick to remember Organization of the Petroleum Exporting Countries

Trick to remember OPEC Countries

Organization of the Petroleum Exporting Countries is an intergovernmental organization of 13 nations, founded in 1960 by the first five members, and headquartered since 1965 in Vienna, Austria. The 13 countries account for 40 percent of global oil production and 73 percent of the world’s “proven” oil reserves, making OPEC a major influence on global oil prices. The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.

opec

As of 2016, OPEC’s members are Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia (the de facto leader), United Arab Emirates, and Venezuela. Two-thirds of OPEC’s oil production and reserves are in it’s six Middle Eastern countries that surround the oil-rich Persian Gulf.

In October 2015, Sudan formally submitted an application to join OPEC. Approval of a new member country requires agreement by three-fourths of the existing members, including all five of the founders.

Trick to remember OPEC Countries

after QUAKE ANIL IS Very afraid.

QUAKE

Q – Quatar
U – UAE
A – Algeria
K – Kuwait
E – Ecuador

ANIL

A – Angola
N – Nigeria
I – Iran
L – Libya

IS

I – Iraq
S – Saudi Arabia

Very

V – Venzuela

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