Quick Definition

OPEC is an intergovernmental organization of oil-exporting countries that coordinates and unifies petroleum policies among member countries to ensure the stabilization of oil markets.

Examples

• 1OPEC decides to cut oil production by 10% to stabilize falling oil prices, leading to a rise in global oil prices.
• 2During an economic downturn, OPEC may maintain production levels to avoid further price declines, impacting global economies.
• 3OPEC meetings often result in agreements that affect global oil supply and can influence fuel prices in various countries.
• 4Investors in the energy sector closely monitor OPEC decisions as they can significantly impact energy stock prices and market trends.

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