Organization of the Petroleum Exporting Countries

What Organization of the Petroleum Exporting Countries does

The Organization of the Petroleum Exporting Countries (OPEC) is a permanent intergovernmental organization founded in September 1960 at the Baghdad Conference by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. It currently comprises 12 Member Countries (Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, UAE, Venezuela — note UAE withdrew effective May 1, 2026 per recent reporting) and coordinates and unifies their petroleum policies with the stated objective of securing fair and stable prices for producers, an efficient supply of petroleum to consuming nations, and a fair return on capital to industry investors. Its operational backbone is the Vienna-based OPEC Secretariat, led by Secretary General HE Haitham Al Ghais, which runs a Research Division (Data Services, Petroleum Studies, Energy Studies, Environmental Matters) and a Support Services Division employing approximately 134 staff from 41 countries.

OPEC's core product portfolio centers on oil market intelligence publications rather than commercial goods or services: the Monthly Oil Market Report, Annual Statistical Bulletin, World Oil Outlook (the 20th edition launched June 2026), OPEC Bulletin, Annual Report, and the OPEC Reference Basket (ORB) pricing benchmark — a weighted blend of 12 member country crudes used as a daily price reference. Supporting outputs include the OPEC International Seminar (the 9th edition held July 2025 at Hofburg Palace attracted over 1,000 participants), OPEC Academy programs (Vienna Energy Scholar Programme, Visiting Research Fellow Programme, Summer Fellowship Programme, Internships, Secondment Programme), and commemorative and educational publications. Strategic frameworks include the Declaration of Cooperation (2016) with non-OPEC producers including Russia, and the Charter of Cooperation (2019) establishing a permanent high-level coordination platform.

OPEC does not generate commercial revenue. It is funded through contributions from its Member Countries, and its pricing, revenue model, and customer base are not applicable in a commercial sense. Distribution of its research outputs occurs via the OPEC website, publications portal, mobile app, email subscription, live webcasts, and the OPEC International Seminar, with content available in multiple languages including English, Arabic, French, German, Spanish, Farsi, Russian, Portuguese, Chinese, and Japanese. Recent strategic posture reflects both membership attrition (UAE May 2026, Angola January 2024) and continued engagement expansion through bilateral dialogues with the EU, IEA, and IEF, plus official partnership with African Energy Week 2026.

Name

Organization of the Petroleum Exporting Countries

Legal name

Organization of the Petroleum Exporting Countries

Website

https://opec.org

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

51–100 employees

Short description

OPEC is a permanent intergovernmental organization founded in 1960 that coordinates and unifies petroleum policies among its 12 Member Countries to stabilize oil markets and prices. It produces flagship oil market intelligence publications (Monthly Oil Market Report, World Oil Outlook, Annual Statistical Bulletin, OPEC Reference Basket pricing benchmark) and operates a Vienna-based Secretariat funded by member contributions rather than commercial revenue.

Ownership category

akta.pro rank

Product category

International Energy Policy Coordination

NAICS

Regulation and Administration of Communications, Electric, Gas, and Other Utilities (92613)

SIC

International Affairs (9721)

akta.pro primary industry

Regional Intergovernmental Organizations (BPADAAAB)

Keywords

• Intergovernmental organization
• Petroleum policy coordination
• Oil market analysis
• Energy research publications
• Producer cooperation

Headquarters

HQ city

Vienna

HQ country

Austria

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Member Country Contributions: OPEC is funded through contributions from its 12 Member Countries. As an intergovernmental organization, OPEC does not generate commercial revenue from product sales or services. The organization's budget supports the operations of its Vienna-based Secretariat.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

OPEC is a permanent intergovernmental organization that coordinates and unifies petroleum policies among its 12 Member Countries. Its primary outputs are authoritative oil market intelligence publications (Monthly Oil Market Report, World Oil Outlook, Annual Statistical Bulletin, OPEC Bulletin) and the OPEC Reference Basket daily price benchmark, supported by intergovernmental ministerial meetings, the OPEC International Seminar, and policy dialogue platforms such as the Declaration of Cooperation and Charter of Cooperation.

Product overview

The Organization of the Petroleum Exporting Countries (OPEC) is a permanent intergovernmental organization that operates primarily as a research, publishing, and policy coordination body. Its core product portfolio centers on oil market intelligence publications, including the Monthly Oil Market Report (MOMR), Annual Statistical Bulletin (ASB), World Oil Outlook (WOO), and OPEC Bulletin. The OPEC Reference Basket (ORB) provides daily pricing benchmarks for member country crudes. Supporting offerings include the OPEC International Seminar series, OPEC Long-Term Strategy documents, and educational publications like 'I Need to Know' and 'OPEC 65 years and beyond'. The OPEC Academy provides professional development through the Vienna Energy Scholar Programme, Visiting Research Fellow Programme, and Summer Fellowship Programme. The OPEC Secretariat, located in Vienna, serves as the executive organ implementing organizational decisions and conducting research through its Data Services, Petroleum Studies, Energy Studies, and Environmental Matters departments.

Differentiator

Problem solved

Functional benefit

Brands

• OPEC Reference Basket (ORB): The OPEC Reference Basket is a weighted blend of 12 crude oils from OPEC member countries used as a pricing benchmark
• Monthly Oil Market Report
• World Oil Outlook
• Annual Statistical Bulletin
• OPEC Bulletin
• OPEC International Seminar
• OPEC Long-Term Strategy
• OPEC Academy

Products and services

• Monthly Oil Market Report (MOMR) Comprehensive monthly publication covering major issues affecting the world oil market, providing detailed analysis of oil market trends in world oil demand, supply, and market balance with outlook for crude oil market developments, for governments, energy companies, financial institutions, and research organizations.
• Annual Statistical Bulletin (ASB) Annual publication containing approximately 88 pages of tables, charts, and graphs detailing world oil and gas reserves, crude oil and product output, exports, refining, tankers, plus economic and other data, for energy analysts and policy stakeholders.
• World Oil Outlook (WOO) Flagship annual publication providing medium- and long-term analysis of global oil and energy sector prospects, including oil demand projections, supply assessments, refining, oil trade, investment forecasts, and energy policy developments.
• OPEC Reference Basket (ORB) Daily price benchmark comprising crudes from OPEC member countries including Saharan Blend, Djeno, Zafiro, Rabi Light, Iran Heavy, Basra Medium, Kuwait Export, Es Sider, Bonny Light, Arab Light, Murban, and Merey.
• OPEC Bulletin Monthly flagship magazine featuring news from member countries, forum articles, oil market reviews, and topical issues related to OPEC and the energy industry.
• Annual Report Comprehensive annual publication featuring foreword by Secretary General, reviews of member countries' economic performances, world oil market analysis, and OPEC Secretariat activities.
• OPEC International Seminar Premier energy industry event bringing together ministers from OPEC member countries, DoC participating countries, energy producing and consuming nations, international organization heads, energy company executives, and industry leaders for discussions on energy sector issues.
• OPEC Long-Term Strategy Strategic framework providing coherent vision for the Organization's future, analyzing factors affecting market stability, fair prices, and global trends impacting world oil demand security.
• Vienna Energy Scholar Programme (VESP) Academic programme under OPEC Academy providing scholars opportunity to engage in research at the OPEC Secretariat on energy-related topics.
• Visiting Research Fellow Programme (VRFP) Professional development programme helping OPEC member country professionals improve expertise and technical skills in research on energy-related issues through practical experience at the Secretariat.
• Summer Fellowship Programme (SFP) Professional opportunity for OPEC member country nationals to enhance expertise by engaging in Secretariat activities across various departments, with eight-week duration at OPEC Secretariat in Vienna.

Quantifiable outcome

• Global oil demand projected to reach 124 million barrels per day by 2050
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered strategic, flagship, core and regional.

• European UnionstrategicStrategic or Co-development Partner · 9 April 2026The 16th High-Level Meeting of the OPEC-EU Energy Dialogue was held on April 9, 2026, maintaining ongoing bilateral cooperation and energy market discussions between OPEC and EU.
• International Energy Agency (IEA) and International Energy Forum (IEF)strategicStrategic or Co-development Partner · 4 February 2026IEA, IEF, and OPEC convened industry leaders for a Joint Symposium on Energy Outlooks on February 4, 2026, in Riyadh, Saudi Arabia, focusing on enhancing global decision-making processes in energy markets.
• African Energy WeekflagshipGTM or Marketing Partner · 1 January 2026OPEC confirmed Official Partnership with African Energy Week 2026 taking place in Cape Town from October 12-16, reinforcing strategic alignment with African hydrocarbon producers and signaling continued investor confidence in the continent's energy sector.
• Charter of Cooperation (CoC) Participating CountriescoreStrategic or Co-development Partner · 2 July 2019The Charter of Cooperation established a permanent high-level platform for dialogue among DoC participants, promoting oil market stability and fostering cooperation in technology and other areas. Brazil joined the CoC in February 2025. The CoC promotes principles of transparency, equity, fairness and multi-stakeholderism, enabling broad dialogue with producers, consumers, investors, analysts and other stakeholders.
• Non-OPEC Oil-Producing Countries (Declaration of Cooperation)coreStrategic or Co-development Partner · 10 December 2016The Declaration of Cooperation (DoC) established an unprecedented framework where OPEC joined with non-OPEC oil-producing countries to accelerate stabilization of the global oil market. The landmark agreement emerged in response to a severe market downturn beginning in 2014. DoC participants coordinate production adjustments, with the framework proving crucial during the COVID-19 pandemic when producers implemented 9.7 mb/d production cuts. Currently includes approximately 10 non-OPEC participating countries including Russia.
• OPEC Fund for International DevelopmentcoreStrategic or Co-development Partner · 1 January 1976Established following the First OPEC Summit in Algiers in 1975, the OPEC Fund provides financial assistance to developing countries. The Fund has committed $2 billion co-financing framework with the African Development Fund through 2030, supporting development projects in member and non-member countries.
• MSGBC Oil, Gas & Power ConferenceregionalGTM or Marketing PartnerTwo senior OPEC officials, Dr. Ali Dehghan and Eng. Mohammed Attaba, were confirmed as speakers at the MSGBC Oil, Gas & Power 2025 conference in Dakar, Senegal on December 9-10, supporting OPEC's outreach to African energy stakeholders.
• United Nations Framework Convention on Climate Change (UNFCCC)strategicStrategic or Co-development PartnerOPEC has participated in every COP meeting since they first began over 30 years ago, engaging in dialogue and exchange of views on climate change and energy policy. All OPEC member countries have signed and 10 have ratified the Paris Agreement.

Scale indicators6 records

Recent moves13 records

Expansion highlights5 records

Direct peers

• International Energy Forum: Intergovernmental energy dialogue platform among producers and consumers, co-convening the IEA-IEF-OPEC Joint Symposium on Energy Outlooks; directly comparable as a global energy coordination body.
• International Energy Agency: Paris-based autonomous intergovernmental organization providing energy data, analysis, and policy recommendations; the closest comparator to OPEC as the major international energy policy body on the consumer/transition side, frequently co-hosting joint symposia with OPEC.
• Gas Exporting Countries Forum: Intergovernmental organization of the world's leading natural gas exporters, modeled on OPEC, coordinating natural gas policies among member countries; structurally analogous as a producer-country commodity coordination body.

Emerging players

• International Renewable Energy Agency: Intergovernmental organization supporting countries in their energy transition; comparable in institutional form and scale to OPEC but with an opposing mandate (renewables rather than hydrocarbons), representing the secular headwind to OPEC's long-term influence.

Broad incumbents

• World Petroleum Council: Non-profit industry organization covering the full petroleum value chain from exploration through end use; comparable as a long-standing global petroleum industry body, though broader in scope and without OPEC's producer-country coordination role.
• World Energy Council: UN-accredited global energy body engaging the entire energy ecosystem across fuels and technologies; comparable as a multi-stakeholder intergovernmental-adjacent energy forum, with broader scope than OPEC's hydrocarbon focus.

Regional players

• African Petroleum Producers Organization: Intergovernmental organization of African petroleum-producing countries coordinating policy and cooperation on the continent; modeled directly on OPEC and structurally comparable as a regional producer-country coordination body.

Others

• OPEC Fund for International Development: Multilateral development finance institution established by OPEC member states in 1976; comparable as an OPEC-family institution supporting member and non-member developing countries with a $2 billion co-financing framework through 2030.
• International Energy Charter: Intergovernmental energy cooperation framework covering energy trade, investment, and transit; comparable as a multilateral energy governance organization that engages in formal energy dialogues with energy-producing and -consuming countries.
• United Nations Framework Convention on Climate Change: UN treaty body that hosts COP climate negotiations in which OPEC has participated since inception; comparable as the major intergovernmental forum where OPEC's member states engage on climate and energy policy, shaping the long-term operating environment for OPEC.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/OPECSecretariat
• YouTubeyoutube.com/results?search_query=opec
• Facebookfacebook.com/OPECSecretariat
• LinkedInlinkedin.com/company/opecsecretariat

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Organization of the Petroleum Exporting Countries