OPEC 1

OPEC

Organization of the Petroleum Exporting

Countries OPEC

Headquarters Vienna, Austria

Official languages [1]

English

Type Trade bloc

Member states

 -  Secretary General Masoud Mir Kazemi

(since January 1, 2011)

Establishment Baghdad, Iraq

 -  Statute September 10–14, 1960

in effect January 1961 

Area

 -  Total 11,854,977 km2

4,577,232 sq mi

Population

 -   estimate 372,368,429 

 -  Density 31.16/km2

80.7/sq mi

Currency Indexed as USD-per-barrel

Website
[2]
www.OPEC.org

The Organization of the Petroleum Exporting Countries (OPEC, pronounced /ˈoʊpɛk/ OH-pek) is a cartel of
twelve developing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi
Arabia, the United Arab Emirates, and Venezuela. OPEC has maintained its headquarters in Vienna since 1965,[3]
and hosts regular meetings among the oil ministers of its Member Countries. Indonesia withdrew in 2008 after it
became a net importer of oil, but stated it would likely return if it became a net exporter in the world again.[4]
OPEC 2

According to its statutes, one of the principal goals is the determination of the best means for safeguarding the
cartel's interests, individually and collectively. It also pursues ways and means of ensuring the stabilization of prices
in international oil markets with a view to eliminating harmful and unnecessary fluctuations; giving due regard at all
times to the interests of the producing nations and to the necessity of securing a steady income to the producing
countries; an efficient and regular supply of petroleum to consuming nations, and a fair return on their capital to
those investing in the petroleum industry.[5]
OPEC's influence on the market has been widely criticized, since it became effective in determining production and
prices. Arab members of OPEC alarmed the developed world when they used the “oil weapon” during the Yom
Kippur War by implementing oil embargoes and initiating the 1973 oil crisis. Although largely political explanations
for the timing and extent of the OPEC price increases are also valid, from OPEC’s point of view, these changes were
triggered largely by previous unilateral changes in the world financial system and the ensuing period of high
inflation in both the developed and developing world. This explanation encompasses OPEC actions both before and
after the outbreak of hostilities in October 1973, and concludes that “OPEC countries were only 'staying even' by
dramatically raising the dollar price of oil.”[6]
OPEC's ability to control the price of oil has diminished somewhat since then, due to the subsequent discovery and
development of large oil reserves in Alaska, the North Sea, Canada, the Gulf of Mexico, the opening up of Russia,
and market modernization. As of November 2010, OPEC members collectively hold 79% of world crude oil reserves
and 44% of the world’s crude oil production, affording them considerable control over the global market.[7] The next
largest group of producers, members of the OECD and the Post-Soviet states produced only 23.8% and 14.8%,
respectively, of the world's total oil production.[8] As early as 2003, concerns that OPEC members had little excess
pumping capacity sparked speculation that their influence on crude oil prices would begin to slip.[9] [10]

History
Venezuela and Iran were the first countries to move towards the
establishment of OPEC in the 1960s by approaching Iraq, Kuwait and
Saudi Arabia in 1949, suggesting that they exchange views and explore
avenues for regular and closer communication among
petroleum-producing nations. The founding members are Iran, Iraq,
Kuwait, Saudi Arabia, and Venezuela. Later members include Algeria,
Ecuador, Gabon, Indonesia, Libya, Qatar, Nigeria, and the United Arab
Emirates.

In 10–14 September 1960, at the initiative of the Venezuelan Energy

the new OPEC headquarters in Vienna
and Mines minister Juan Pablo Pérez Alfonzo and the Saudi Arabian
Energy and Mines minister Abdullah al-Tariki, the governments of
Iraq, Iran, Kuwait, Saudi Arabia and Venezuela met in Baghdad to discuss ways to increase the price of the crude oil
produced by their respective countries. OPEC was founded in Baghdad, triggered by a 1960 law instituted by
American President Dwight Eisenhower that forced quotas on Venezuelan and Persian Gulf oil imports in favor of
the Canadian and Mexican oil industries. Eisenhower cited national security, land access to energy supplies, at times
of war. When this led to falling prices for oil in these regions, Venezuela's president Romulo Betancourt reacted by
seeking an alliance with oil producing Arab nations as a preemptive strategy to maintain the continued autonomy and
profitability of Venezuela's oil resources.
OPEC 3

As a result, OPEC was founded to unify and coordinate members'

petroleum policies. Original OPEC members include Iran, Iraq,
Kuwait, Saudi Arabia, and Venezuela. Between 1960 and 1975, the
organization expanded to include Qatar (1961), Indonesia (1962),
Libya (1962), the United Arab Emirates (1967), Algeria (1969), and
Nigeria (1971). Ecuador and Gabon were early members of OPEC, but
Oil exports imports difference
Ecuador withdrew on December 31, 1992[11] because it was unwilling
or unable to pay a $2 million membership fee and felt that it needed to
produce more oil than it was allowed to under the OPEC quota,[12] although it rejoined in October 2007. Similar
concerns prompted Gabon to suspend membership in January 1995.[13] Angola joined on the first day of 2007.
Norway and Russia have attended OPEC meetings as observers. Indicating that OPEC is not averse to further
expansion, Mohammed Barkindo, OPEC's Secretary General, recently asked Sudan to join.[14] Iraq remains a
member of OPEC, but Iraqi production has not been a part of any OPEC quota agreements since March 1998.

In May 2008, Indonesia announced that it would leave OPEC when its membership expired at the end of that year,
having become a net importer of oil and being unable to meet its production quota.[15] A statement released by
OPEC on 10 September 2008 confirmed Indonesia's withdrawal, noting that it "regretfully accepted the wish of
Indonesia to suspend its full Membership in the Organization and recorded its hope that the Country would be in a
position to rejoin the Organization in the not too distant future." [16] Indonesia is still exporting some good light
crude oil with low sulphur and import heavy crude oil with higher sulphur to get advantage of price different (import
is greater than export) due to Air pollution in Indonesia is still low as compared to China or USA.

1973 oil embargo

The persistence of the Arab-Israeli conflict
finally triggered a response that transformed
OPEC into a formidable political force.
After the Six Day War of 1967, the Arab
members of OPEC formed a separate,
overlapping group, the Organization of Arab
Petroleum Exporting Countries, for the Long-term oil Prices, 1861-2007 (orange line adjusted for inflation, blue not
adjusted).
purpose of centering policy and exerting
pressure on the West over its support of
Israel. Egypt and Syria, though not major oil-exporting countries, joined the latter grouping to help articulate its
objectives. Later, the Yom Kippur War of 1973 galvanized Arab opinion. Furious at the emergency re-supply effort
that had enabled Israel to withstand Egyptian and Syrian forces, the Arab world imposed the 1973 oil embargo
against the United States and Western Europe, while non-Arab OPEC members did not.
OPEC 4

The 1980s oil gluts

After 1980, oil prices began a six-year decline that culminated with a
46 percent price drop in 1986. This was due to reduced demand and
over-production that produced a glut on the world market. Around this
period, Iraq also increased its oil production to help pay for the
Iran-Iraq War. Overall OPEC lost its unity and thus its net oil export
revenues fell in the 1980s.

Responding to war and low prices

Leading up to the 1990-91 Gulf War, Iraqi President Saddam Hussein
OPEC net oil export revenues for 1971 -
advocated that OPEC push world oil prices up, thereby helping Iraq, 2007.
[17]
and other member states, service debts. But the division of OPEC
countries occasioned by the Iraq-Iran War and the Iraqi invasion of Kuwait marked a low point in the cohesion of
OPEC. Once supply disruption fears that accompanied these conflicts dissipated, oil prices began to slide
dramatically.

After oil prices slumped at around $15 a barrel in the late 1990s, concerted diplomacy, sometimes attributed to
Venezuela’s president Hugo Chávez, achieved a coordinated scaling back of oil production beginning in 1998. In
2000, Chávez hosted the first summit of heads of state of OPEC in 25 years. The next year, however, the September
11, 2001 attacks against the United States, the following invasion of Afghanistan, and 2003 invasion of Iraq and
subsequent occupation prompted a surge in oil prices to levels far higher than those targeted by OPEC during the
preceding period. Indonesia withdrew from OPEC to protect its oil supply interests.
On November 19, 2007, global oil prices reacted strongly as OPEC members spoke openly about potentially
converting their cash reserves to the euro and away from the US dollar.[18]

Production disputes
The economic needs of the OPEC member states often affects the internal politics behind OPEC production quotas.
Various members have pushed for reductions in production quotas to increase the price of oil and thus their own
revenues.[19] These demands conflict with Saudi Arabia's stated long-term strategy of being a partner with the
world's economic powers to ensure a steady flow of oil that would support economic expansion.[20] Part of the basis
for this policy is the Saudi concern that expensive oil or oil of uncertain supply will drive developed nations to
conserve and develop alternative fuels. To this point, former Saudi Oil Minister Sheikh Yamani famously said in
1973: "The stone age didn't end because we ran out of stones."[21]
One such production dispute occurred on September 10, 2008, when the Saudis reportedly walked out of OPEC
negotiating session where the cartel voted to reduce production. Although Saudi Arabian OPEC delegates officially
endorsed the new quotas, they stated anonymously that they would not observe them. The New York Times quoted
one such anonymous OPEC delegate as saying “Saudi Arabia will meet the market’s demand. We will see what the
market requires and we will not leave a customer without oil. The policy has not changed.”[22]
OPEC 5

Membership

Current members
OPEC has twelve third world member countries: six in the Middle East, four in Africa, and two in South America.

Country Region [23] [25]

Joined OPEC Population Area (km²)
[24]
(July 2008)

 Algeria Africa 1969 33,779,668 2,381,740

 Angola Africa 2007 12,531,357 1,246,700

 Ecuador South America 2007[26] 13,927,650 283,560

 Iran Middle East [27] 75,875,224 1,648,000

1960

 Iraq Middle East [27] 28,221,180 437,072

1960

 Kuwait Middle East [27] 2,596,799 17,820

1960

 Libya Africa 1962 6,173,579 1,759,540

 Nigeria Africa 1971 158,259,000 923,768

 Qatar Middle East 1961 824,789 11,437

 Saudi Arabia Middle East [27] 28,146,656 2,149,690

1960

 United Arab Emirates Middle East 1967 4,621,399 83,600

 Venezuela South America 1960[27] 26,414,816 912,050

Total 369368429 11854977 km²

[1] Chapter I, Article 6 of The Statute of the organization of the Petroleum Exporting Countries (http:/ / www. opec. org/ library/ opec statute/
pdf/ os. pdf) (as amended)
[2] http:/ / www. opec. org/
[3] OPEC: Brief History (http:/ / www. opec. org/ opec_web/ en/ about_us/ 24. htm)
[4] "OPEC says Indonesia has suspended cartel membership" (http:/ / www. forbes. com/ afxnewslimited/ feeds/ afx/ 2008/ 09/ 10/ afx5406908.
html). Forbes.com. . Retrieved 2010-10-03.
[5] Chapter I, Article 2 of The Statute of the organization of the Petroleum Exporting Countries (http:/ / www. opec. org/ library/ opec statute/
pdf/ os. pdf) (as amended)
[6] Hammes, David and Wills, Douglas. “Black Gold: The End of Bretton Woods and the Oil-Price Shocks of the 1970s,” The Independent
Review, v. IX, n. 4, Spring 2005. pp. 501-511. (http:/ / www. independent. org/ publications/ tir/ article. asp?a=518)
[7] http:/ / www. turquoisepartners. com/ iraninvestment/ IIM-Nov10. pdf
[8] BP plc. "British Petroleum table of world oil production" (http:/ / www. bp. com/ liveassets/ bp_internet/ globalbp/ globalbp_uk_english/
publications/ energy_reviews_2006/ STAGING/ local_assets/ downloads/ pdf/ table_of_world_oil_production_2006. pdf). Retrieved June 18,
2007.
[9] "Is Opec Losing Control Over Oil Price?" (http:/ / english. aljazeera. net/ English/ archive/ archive?ArchiveId=6664). Al Jazeera English. .
Retrieved 2010-12-19.
[10] "Is OPEC About to Lose Control of the Spigot?" (http:/ / www. businessweek. com/ magazine/ content/ 03_03/ b3816074. htm).
BusinessWeek. 2003-01-20. . Retrieved 2010-12-19.
[11] OPEC, by Benjamin Zycher: The Concise Encyclopedia of Economics: Library of Economics and Liberty (http:/ / www. econlib. org/
library/ enc/ OPEC. html)
[12] "Ecuador Set to Leave OPEC" (http:/ / query. nytimes. com/ gst/ fullpage. html?res=9E0CE4DF1F3AF93BA2575AC0A964958260). The
New York Times. September 18, 1992. . Retrieved May 20, 2010.
[13] "Gabon Plans To Quit OPEC - NYTimes.com" (http:/ / query. nytimes. com/ gst/ fullpage.
html?res=990CE0D91539F93AA35752C0A963958260). New York Times. 1995-01-09. . Retrieved 2010-10-03.
[14] Angola, Sudan to ask for OPEC membership (http:/ / www. chron. com/ disp/ story. mpl/ business/ energy/ 4374140. html) Houston
Chronicle
[15] Indonesia to withdraw from Opec (http:/ / news. bbc. co. uk/ 2/ hi/ business/ 7423008. stm)
[16] (http:/ / www. opec. org/ opecna/ Press Releases/ 2008/ pr112008. htm)
OPEC 6

[17] http:/ / www. eia. doe. gov/ emeu/ cabs/ OPEC_Revenues/ OPEC. html
[18] (http:/ / news. yahoo. com/ s/ ap/ 20071119/ ap_on_bi_ge/ oil_prices;_ylt=AqHkJtpxzqh9jxBe_5TkFEmyBhIF)
[19] Nick A. Owen, Oliver R. Inderwildi, David A. King (2010). "The status of conventional world oil reserves—Hype or cause for concern?".
Energy Policy. doi:10.1016/j.enpol.2010.02.026.
[20] Speech by Minister of Petroleum and Mineral Resources Ali Al-Naimi: Saudi oil policy: stability with strength (http:/ / www. saudiembassy.
net/ 1999News/ Statements/ SpeechDetail. asp?cIndex=327)
[21] Washington diary: Oil addiction (http:/ / news. bbc. co. uk/ 2/ hi/ americas/ 7486705. stm)
[22] Saudis Vow to Ignore OPEC Decision to Cut Production (http:/ / www. nytimes. com/ 2008/ 09/ 11/ business/ worldbusiness/ 11oil. html)
[23] "Who are OPEC Member Countries?" (http:/ / www. opec. org/ library/ faqs/ aboutopec/ q3. htm). Organization of Petroleum Exporting
Countries. . Retrieved 4 January 2009.
[24] "Field Listing - Population" (https:/ / www. cia. gov/ library/ publications/ the-world-factbook/ fields/ 2119. html). CIA World Factbook.
Central Intelligence Agency. . Retrieved 4 January 2009.
[25] "Field Listing - Area" (https:/ / www. cia. gov/ library/ publications/ the-world-factbook/ fields/ 2147. html). CIA World Factbook. Central
Intelligence Agency. . Retrieved 4 January 2009.
[26] Ecuador initially joined in 1973, left in 1992, and rejoined in 2007.
[27] One of five founder members that attended the first OPEC conference, in September 1960.

Former members

Country Region Joined OPEC Left OPEC

 Gabon Africa 1975 1994

 Indonesia East Asia 1962 2008

The United States was a de facto member during its formal occupation of Iraq via the Coalition Provisional
Authority.[1] [2]
Indonesia left OPEC in 2008 because it ceased to be a net exporter of oil. It could not fulfill the demand of its own
country's needs, as growth in demand outstripped output. The situation was made worse because of weak legal
certainty and corruption that deterred foreign investors from investing in new reserves in Indonesia. In recent times,
the government has increased financial incentives for foreign firms to invest in exploration and extraction but has
found itself forced to import more supplies from the likes of Iran, Saudi Arabia and Kuwait. Indonesia's departure
from OPEC will not likely affect the amount of oil it produces or imports. The country's growing dependence on
imports is proving increasingly expensive as global prices soar.[3]

Economics
OPEC is a swing producer[4] and its decisions have had considerable influence on international oil prices. For
example, in the 1973 energy crisis OPEC refused to ship oil to western countries that had supported Israel in the
Yom Kippur War or 6 Day War, which Israel had fought against Egypt and Syria. This refusal caused a fourfold
increase in the price of oil, which lasted five months, starting on October 17, 1973, and ending on March 18, 1974.
OPEC nations then agreed, on January 7, 1975, to raise crude oil prices by 10%. At that time, OPEC nations —
including many who had recently nationalized their oil industries — joined the call for a new international economic
order to be initiated by coalitions of primary producers. Concluding the First OPEC Summit in Algiers they called
for stable and just commodity prices, an international food and agriculture program, technology transfer from North
to South, and the democratization of the economic system . Overall, the evidence suggests that OPEC did act as a
cartel, when it adopted output rationing in order to maintain price.[5]
Since currently worldwide oil sales are denominated in U.S. dollars, changes in the value of the dollar against other
world currencies affect OPEC's decisions on how much oil to produce. For example, when the dollar falls relative to
the other currencies, OPEC-member states receive smaller revenues in other currencies for their oil, causing
substantial cuts in their purchasing power. After the introduction of the Euro, pre-invasion Iraq decided it wanted to
be paid for its oil in euros instead of US dollars causing OPEC to consider changing its oil exchange currency to
euros, although after Iraq's invasion, the interim government reversed this policy, and the subsequent Iraq
OPEC 7

governments stuck to the US dollar.[6] Member states Iran[7] and Venezuela[8] have undergone similar shifts from the
dollar to the Euro.

Quotas circa 2005

OPEC Quotas and Production in thousands of barrels per day [9]

Country Quota (7/1/05) Production (1/07) Capacity

 Algeria 894 1,360 1,430

 Angola 1,900 1,700 1,700

 Ecuador 520 500 500

 Iran 4,110 3,700 3,750

 Iraq 1,481

 Kuwait 2,247 2,500 2,600

 Libya 1,500 1,650 1,700

 Nigeria 2,306 2,250 2,250

 Qatar 726 810 850

 Saudi Arabia 10,099 8,800 10,500

 United Arab Emirates 2,444 2,500 2,600

 Venezuela 3,225 2,340 2,450

Total 29,971 29,591 30,330

References
[1] Noah, Timothy (2007-07-10). "Go NOPEC! Congress takes on the biggest, baddest cartel of all" (http:/ / www. slate. com/ id/ 2170040/ nav/
tap3/ ). Slate. . Retrieved 2009-08-21.
[2] Noah, Timothy (2003-09-18). "Is Bremer a Price Fixer? Letting Iraq's oil minister attend an OPEC meeting may violate the Sherman
Antitrust Act" (http:/ / www. slate. com/ id/ 2088602/ ). Slate. .
[3] "Indonesia to withdraw from OPEC" (http:/ / news. bbc. co. uk/ 2/ hi/ 7423008. stm). BBC News. 2008-05-28. .
[4] Iraq emerges as new ‘swing producer’ in Opec (http:/ / www. dawn. com/ 2006/ 03/ 26/ ebr5. htm)
[5] http:/ / fmwww. bc. edu/ EC-P/ WP318. pdf
[6] Iraq: Baghdad Moves To Euro (http:/ / www. rferl. org/ content/ article/ 1095057. html)
[7] Clark, William. "Iran's euro-denominated oil bourse to open in March: US Dollar Crisis on the Horizon" (http:/ / www. globalresearch. ca/
index. php?context=viewArticle& code=CLA20060210& articleId=1937). Globalresearch.ca. . Retrieved 2010-12-19.
[8] Bodzin, Steven (2007-09-17). "Petroleos de Venezuela to Convert Accounts Away From Dollars" (http:/ / www. bloomberg. com/ apps/
news?pid=20601086& sid=aGBuWpZJ9cPI). Bloomberg. . Retrieved 2010-12-19.
[9] Quotas (http:/ / www. eia. doe. gov/ emeu/ cabs/ orevcoun. html) as reported by the United States Department of Energy
OPEC 8

External links
• Official website (http://http://www.opec.org)
• Concise Encyclopedia of Economics: OPEC (http://www.econlib.org/library/Enc/OPEC.html)
• OPEC Timeline (http://mondediplo.com/2006/05/07timeline) by Nicolas Sarkis, from Le Monde
diplomatique, May 2006
• The OPEC Fund for International Development (OFID) official site (http://www.ofid.org/)
Article Sources and Contributors 9

Article Sources and Contributors

OPEC  Source: http://en.wikipedia.org/w/index.php?oldid=409422076  Contributors: 11tas, 172, 198.207.223.xxx, A i s h2000, A little insignificant, A.wankier, Aggyagro, Ahmed Elnagar,
Ahoerstemeier, Ala.foum, Alansohn, Aliceinwonderland88, Aliciawilber, Allstarecho, Alsandro, Amazonien, Amren, Andonic, AndreNatas, Andy Marchbanks, Angelo De La Paz,
Angusmclellan, Anskas, Antandrus, Antholog1793, Antonio Lopez, Aogouguo, Aranherunar, Ardeet, Aris Katsaris, Arre, Arsalan Khan Pathan, Arthena, Arthur Rubin, Ashmoo, Austrian,
B.nadeau89, Bart133, Baseballfan, Bastin, Batright, Beagel, Beamathan, Beland, Ben-Zin, Bender235, Bishonen, Bkell, Blanchardb, Blehfu, Bobalinafruitysugaplum, Bobblewik, Bobo192,
Bobrayner, Boing! said Zebedee, Bolivian Unicyclist, BradBeattie, Brianski, Britcom, Bryan Derksen, CSWarren, CUSENZA Mario, Caltas, Can't sleep, clown will eat me, CaribDigita, Carwil,
CasualObserver'48, Ccosta, Cfailde, Chandraguptamaurya, Cheddarbob2332, Chickenfeed9, Chill doubt, Chrisbolt, CieloEstrellado, Ckatz, Cncs wikipedia, Colincbarnard, Conversion script,
Coolhawks88, CopperPlatypus, Coredesat, Corpx, Crapdoodlehead, Crimsontaco99, Cybercobra, DabMachine, DancingPenguin, Dangill78, Daniel J. Forman, Danny B-), David Gale, DerHexer,
Deyyaz, Dhartung, Diagonalfish, Diego Grez, Discospinster, Dlohcierekim, Doctorrob1234, Donarreiskoffer, Doniago, Dougbast, Doyley, Dspradau, Dubboi1259, Dupes, Dysprosia, EJF,
EOZyo, EZ, Easykid1111, Ebrooks, Ed Poor, Edward, Egeefay, Einsteinboricua, El aprendelenguas, Electric counterpoint, Ender3057, Epson291, Eric Kvaalen, Eric76, Ernest Peiris,
EugeneZelenko, EurekaLott, Ewlloyd, F-451, Facts707, Faizalzakaria, Fan-1967, Fayenatic london, Fdssdf, Feotu, Fieldday-sunday, Finalnight, Flewis, FloresHernandez, FocalPoint, Frbloke101,
Fshafique, FuturedOrange, Fvw, Gabr-el, Gaoez01, Gbinal, George The Dragon, Gilliam, Ginkgo100, Glenn, GoAway0000, Godingo, Gomma, Good Olfactory, Goplat, Graft, Gralo,
GreatWhiteNortherner, GreenReaper, Greybear1701, Ground Zero, Gsarwa, Gutsul, Hajor, Halgin, Halidecyphon, Hann.gan, Hasanbay, Hayabusa future, Hephaestos, HollywoodCowboy,
Howardjp, Howardr94, HubHikari, Huhsunqu, Hult041956, Hyphen5, IceUnshattered, IchigoTheSoulReaper, IlyaHaykinson, Immanuel Giel, Immunize, Inwind, IronGargoyle, Isomega, Itai,
Izno, J. W. Love, J.delanoy, JForget, JLeigh595, JPINFV, JQF, JRSP, JYolkowski, JaGa, JamesBWatson, Jazz+, Jerome Charles Potts, Jerrch, Jesse Viviano, Jjamison, Joao Xavier, John,
John254, Johnjosephbachir, Jonathan.s.kt, Joseph Solis in Australia, JosephLondon, Judae1, Justin Eiler, KVDP, Kanags, Kateweb, KazakhPol, Kazvorpal, Keoniphoenix, Kewpid,
Kickthemoose, Kingpin13, Kipala, Kitplane01, Koavf, Kraftlos, Kribbeh, Kristen Eriksen, Kromagon, Kungfuadam, Kwamikagami, LAX, La goutte de pluie, Lamro, Latin Guy, LeaveSleaves,
LestatdeLioncourt, Levineps, Lexo, Liftarn, Lightmouse, Ligulem, Lihaas, LittleDan, LittleOldMe, Looxix, Lord Pistachio, Louis3ham, Lova Falk, Lucas(CA), Luna Santin, Lunamia, MER-C,
MK8, Macintosh User, Macutty, Malepheasant, Manajemba, Manumaniac, Marek69, Mario777Zelda, Mark K. Jensen, MarkSutton, Maurreen, Mav, MaxSem, Maximilli, Mb1000, McSly,
Me...™, Member, Mhiji, MiShogun, Michael Hardy, Micke478, Minimac's Clone, Mintleaf, Mongrel 8, Monty845, Mooo, Mooseboy, Moskvech, Motadat, Mrzaius, Muhaidib, Mvjs, Mxn,
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Image Sources, Licenses and Contributors

File:Flag of OPEC.svg  Source: http://en.wikipedia.org/w/index.php?title=File:Flag_of_OPEC.svg  License: unknown  Contributors: Zscout370
File:OPEC.svg  Source: http://en.wikipedia.org/w/index.php?title=File:OPEC.svg  License: Public Domain  Contributors: User:Bourgeois
Image:OPEC-building-01.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:OPEC-building-01.jpg  License: Public Domain  Contributors: User:Priwo
File:Oil Balance.png  Source: http://en.wikipedia.org/w/index.php?title=File:Oil_Balance.png  License: Public Domain  Contributors: Emilfaro, Jonkerz
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User:TomTheHand
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George McFinnigan, Herbythyme, Homo lupus, Huhsunqu, Infrogmation, Klemen Kocjancic, Ludger1961, Neq00, Nightstallion, Reisio, ThomasPusch, Vzb83, Wikisole, Zscout370, 12
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