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The establishment and growth of OPEC reflects the growing sovereignty of oil producing countries over their natural resources. Through the collaboration of OPEC member countries, and through cooperative relationships with other international organizations, OPEC has consistently looked for ways to coordinate and unify the petroleum policies of its members to ensure:

  • the stabilization of prices in international oil markets with a view to eliminating harmful and unnecessary fluctuations with due regard at all times to the interests of the producing nations, including the necessity of securing a steady income for each member,
  • an efficient, economic, and regular supply of petroleum to consuming nations worldwide,
  • a fair return on capital to investors in the petroleum industry.

 

 

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