OAPEC (Organization of Arab Petroleum Exporting Countries)

OAPEC, the Organization of Arab Petroleum Exporting Countries, is a regional group of Arab countries that produce and export oil. Established in 1968, its goal is to coordinate petroleum policies, promote economic growth among member nations, and ensure stable oil markets. By collaborating, member countries can better manage oil production and prices, benefiting their economies and influencing global oil supply. OAPEC also works on energy development projects and shares expertise to support sustainable growth. It plays a key role in shaping the oil industry within the Arab region and contributing to international oil market stability.