The Headquarters of OPEC

Wgere is the headquarters of OPEC, the organization of petroleum exporting countries?

  1. Tehran
  2. Riyadh
  3. Vienna
  4. Genava
Monis Rasool Professor Asked on 29th May 2015 in General Knowledge.
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  • 1 Answer(s)

    Option 3 is the right answer.

    OPEC (Organization of the Petroleum Exporting Countries)  headquartered in Vienna, Austria, was established in Baghdad, Iraq on 10–14 September 1960.[2] Its mandate is to “coordinate and unify the petroleum policies” of its members and to “ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers,  In 2014 OPEC comprised twelve members: Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.According to the United States Energy Information Administration (EIA), OPEC crude oil production is an important factor affecting global oil prices. OPEC sets production targets for its member nations and generally, when OPEC production targets are reduced, oil prices increase

    Harsh Vardhan Professor Answered on 29th May 2015.
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