The Organization of the Petroleum Exporting Countries is an intergovernmental organization of 14 nations, founded on 14 September 1960 in Baghdad by the first five members, and headquartered since 1965 in Vienna, Austria. As of September 2018, the then 14 member countries accounted for an estimated 44 percent of global oil production and 81.5 percent of the world's "proven" oil reserves, giving OPEC a major influence on global oil prices that were previously determined by the so-called "Seven Si The Organization of the Petroleum Exporting Countries (OPEC) was founded in Baghdad, Iraq, with the signing of an agreement in September 1960 by five countries namely Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.

The Organization of the Petroleum Exporting Countries is an intergovernmental organization of 14 nations, founded on 14 September 1960 in Baghdad by the first five members, and headquartered since 1965 in Vienna, Austria. As of September 2018, the then 14 member countries accounted for an estimated 44 percent of global oil production and 81.5 percent of the world's "proven" oil reserves, giving OPEC a major influence on global oil prices that were previously determined by the so-called "Seven Si The Organization of the Petroleum Exporting Countries (OPEC) was founded in Baghdad, Iraq, with the signing of an agreement in September 1960 by five countries namely Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. IEA Executive Director and OPEC Secretary General discussed the current situation in global oil markets [Joint Statement] Leaders expressed deep concerns about the grave global health crisis caused by the coronavirus (COVID-19) and its related impacts on the stability of economies and markets, notably in developing countries. World Proven Crude Oil Reserves: Cumulative production versus net additions During the period 2009-2018, OPEC Member Countries added 186.2 billion barrels to their total proven crude oil reserves, a significant addition compared to other crude oil producers.

1 Mar 2003 In 1970, the oil reserves, published by the oil companies (including facts is that the higher proven reserves are declared by an OPEC country, 

8 Jun 2018 By the end of 2017, among the Caspian littoral countries, Iran's proven oil reserves totaled 155.6 billion barrels, Russia's 80 billion barrels,  3 Dec 2015 Plunging oil prices have left many crude-exporting countries with Unlike Saudi Arabia, Venezuela's large oil reserves can't be rapidly  18 Jul 2011 LONDON -(MarketWatch)- Venezuela's crude oil proven reserves OPEC normally relies on its members' assessments for statistical data. 1 Mar 2003 In 1970, the oil reserves, published by the oil companies (including facts is that the higher proven reserves are declared by an OPEC country, 

25 Feb 2020 OPEC members Libya, Iran and Venezuela are exempt. Bloomberg estimates for OPEC+ compliance in 2020 include crude production only.

Non-OPEC Developing Country Oil Producers. (All countries accounting for at least 0.1 per cent of world proved reserves, i.e. 650 million barrels or more, and at  11 Nov 2019 The Organization of Petroleum Exporting Countries is a cartel that of the world's proven oil reserves controlled by member nations, OPEC has 

OPEC Basket Price ; Taxes on Oil ; OPEC Oil Reserves. OPEC Share of World Crude Oil Reserves ; World Proven Crude Oil Reserves: Cumulative production versus net additions ; OPEC Upstream Investment ; OPEC Downstream Capacity ; Market Indicators ; Historical Production Data

8 Jun 2017 Mehdi Varzi argues that OPEC members need to address the question of how they intend to exploit their massive oil reserves as the world gets  Warning: Most, if not all, of the ME countries are posted on the unaudited claims of the NOC's. Most pump this number up so their inter OPEC allotment is higher. 8 Jun 2018 By the end of 2017, among the Caspian littoral countries, Iran's proven oil reserves totaled 155.6 billion barrels, Russia's 80 billion barrels,  3 Dec 2015 Plunging oil prices have left many crude-exporting countries with Unlike Saudi Arabia, Venezuela's large oil reserves can't be rapidly  18 Jul 2011 LONDON -(MarketWatch)- Venezuela's crude oil proven reserves OPEC normally relies on its members' assessments for statistical data. 1 Mar 2003 In 1970, the oil reserves, published by the oil companies (including facts is that the higher proven reserves are declared by an OPEC country,  12 Feb 2016 Proved oil reserves consist of the amount of oil in a given area, known OPEC members seek to work together to influence world oil supplies.

20 Sep 2011 OPEC Member Countries have made significant additions to their oil reserves in recent years, for example, by adopting best practices in the 

OPEC Basket Price ; Taxes on Oil ; OPEC Oil Reserves. OPEC Share of World Crude Oil Reserves ; World Proven Crude Oil Reserves: Cumulative production versus net additions ; OPEC Upstream Investment ; OPEC Downstream Capacity ; Market Indicators ; Historical Production Data OPEC Countries. In 2015, the 14 OPEC countries controlled 43% of the oil produced and 73% of oil reserves in the world. In 2014, the US was leading globally in oil production, though it is not an OPEC member. The second largest producer was Saudi Arabia, which is an OPEC member state. Other large producers include Russia, China, Canada, and UAE. Out of the above oil-rich countries, only UAE is an OPEC member. As of January 2019, OPEC has 14 member countries: five in the Middle East (Western Asia), seven in Africa, and two in South America. According to OPEC, this South American country has the biggest proven oil reserves in the group, with 24.8% of the total. Matthew DiLallo (TMFmd19) This statistic depicts the proven natural gas reserves of OPEC countries as of year-end from 2012 to 2018. At year-end 2018, Kuwait had proven gas reserves of around 1.8 trillion cubic meters. This value placed Kuwait in tenth place among all OPEC countries based on OPEC stands for the Organization of the Petroleum Exporting Countries and was founded in 1960 by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Its membership has since expanded to 15 and now Moreover, OPEC owns more than four-fifths of total global crude oil reserves, and more than 48 percent of global natural gas reserves. Given the high dependence of the world economy on oil and gas

A map of world oil reserves according to OPEC, January 2014. This is a list of countries by proven oil reserves. Proven reserves are those quantities of  OPEC countries[edit]. OPEC countries. Since OPEC started to set production quotas on the basis of reserves levels in the