The Organization of Arab Petroleum Exporting Countries (OAPEC) is a regional intergovernmental organization that was established on January 9, 1968. It consists of 11 member countries, namely Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Syria, Tunisia, and the United Arab Emirates. The main objective of OAPEC is to coordinate and unify the petroleum policies of its member states and promote their collective interests in the global oil market.
OAPEC operates through its various specialized bodies, including the General Secretariat, the Council of Ministers, and the specialized technical committees. The General Secretariat is responsible for the overall administration and coordination of OAPEC's activities, while the Council of Ministers serves as the decision-making body. The specialized technical committees focus on specific areas of interest such as energy statistics, research, and development, and environmental issues.
OAPEC plays a significant role in facilitating cooperation among its member countries in terms of oil production, pricing, and market stability. It aims to ensure the economic and social development of its members by promoting sustainable and efficient use of petroleum resources. OAPEC also engages in collaborative efforts with other international organizations and institutions to address common issues, such as energy security and environmental sustainability.
In summary, the Organization of Arab Petroleum Exporting Countries (OAPEC) is an intergovernmental organization that facilitates coordination and cooperation among its member countries to promote their collective interests in the global oil market. It aims to ensure the sustainable use of petroleum resources and foster economic and social development in the region.
