type: "html5", Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020, Collins English Dictionary - Complete & Unabridged 2012 Digital Edition var mapping_rightslot = googletag.sizeMapping().addSize([746, 0], [[300, 250]]).addSize([0, 0], []).build(); As a result, many went below their break-even price of $65 a barrel. { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, { bidder: 'ix', params: { siteId: '195451', size: [300, 50] }}, var mapping_btmslot_a = googletag.sizeMapping().addSize([746, 0], [[300, 250], 'fluid']).addSize([0, 0], [[300, 250], [320, 50], [300, 50], 'fluid']).build(); OPEC members hold 82% of the world's proven oil reserves. It would set production levels among all 24 members. 9 people chose this as the best definition of opec: Organization of Petroleum... See the dictionary meaning, pronunciation, and sentence examples. An example of OPEC members are Saudi Arabia, Iran and Iraq. googletag.pubads().setTargeting("cdo_ptl", "entry-lcp"); { bidder: 'openx', params: { unit: '539971065', delDomain: 'idm-d.openx.net' }}, iasLog("criterion : cdo_l = en"); bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776160', position: 'atf' }}, Organization of Petroleum Exporting Countries.
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Amaze your friends with your new-found knowledge! For example, it replaced the oil lost during the Gulf Crisis in 1990. OPEC members are Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. { bidder: 'ix', params: { siteId: '194852', size: [300, 250] }}, }; googletag.cmd = googletag.cmd || []; The cartel toughed it out until many of the shale companies went bankrupt.
9 people chose this as the best definition of opec: Organization of Petroleum... See the dictionary meaning, pronunciation, and sentence examples. Allies would cut 400,000 bpd. { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_leftslot' }}]}, 10 Types Of Nouns Used In The English Language, The Most Epic Words You’re Probably Neglecting. ga('set', 'dimension2', "entry"); }, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_btmslot' }}, 'cap': true Qatar's departure means the country is aligning itself more with the United States than with Saudi Arabia. { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_HDX' }}, }, 'increment': 0.05, Saudi Arabia's flagship oil company, Aramco, can pump the oil at $2 to $20 a barrel. var dfpSlots = {};
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OPEC Basket: A weighted average of oil prices collected from various oil producing countries. }, tcData.listenerId); { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, {code: 'ad_leftslot', pubstack: { adUnitName: 'cdo_leftslot', adUnitPath: '/2863368/leftslot' }, mediaTypes: { banner: { sizes: [[120, 600], [160, 600]] } }, See more. { bidder: 'appnexus', params: { placementId: '11653860' }}, params: { "sign-up": "https://dictionary.cambridge.org/auth/signup?rid=READER_ID", All the latest wordy news, linguistic insights, offers and competitions every month. Its share fell because of a 16% increase in U.S. shale oil production. Its members are Algeria, Angola, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, googletag.pubads().setTargeting("cdo_pc", "dictionary"); The five founding members were Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776156', position: 'atf' }},
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Download our English Dictionary apps - available for both iOS and Android. googletag.pubads().setTargeting("cdo_c", ["business_financial_industrial_technology", "people_society_religion"]); The cut came a year after OPEC had raised its production quota to 31.5 mbpd on December 4, 2015. { bidder: 'openx', params: { unit: '539971081', delDomain: 'idm-d.openx.net' }}, OPEC has been replaced by OPEC+, a loose organization of 24 oil producing nations -- led by Saudi Arabia and Russia -- that is redefining the cartel's role in global crude markets. { bidder: 'appnexus', params: { placementId: '11654208' }}, { bidder: 'openx', params: { unit: '539971081', delDomain: 'idm-d.openx.net' }}, OPEC members hold 82% of the world's proven oil reserves. Iran's break-even price is just over $50 a barrel. The nights certainly are drawing in, and indeed, half past two in the afternoon on Tuesday 22 September this year marks the autumn equinox, when day and night are exactly equal in length. bidderSequence: "fixed"
{ bidder: 'ix', params: { siteId: '195464', size: [160, 600] }}, OPEC has 13 active members. Since oil contracts are priced in dollars, the revenues of oil exporters fell when the dollar fell. 'increment': 0.01, dfpSlots['topslot_b'] = googletag.defineSlot('/2863368/topslot', [[728, 90]], 'ad_topslot_b').defineSizeMapping(mapping_topslot_b).setTargeting('sri', '0').setTargeting('vp', 'top').setTargeting('hp', 'center').setTargeting('ad_group', Adomik.randomAdGroup()).addService(googletag.pubads()); All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. Copyright © 2010 by
{ bidder: 'triplelift', params: { inventoryCode: 'Cambridge_MidArticle' }}, { bidder: 'openx', params: { unit: '539971079', delDomain: 'idm-d.openx.net' }}, OPEC, in full Organization of the Petroleum Exporting Countries, multinational organization that was established to coordinate the petroleum policies of its members and to provide member states with technical and economic aid. { bidder: 'openx', params: { unit: '541042770', delDomain: 'idm-d.openx.net' }}, It gave Iraq its first quotas since the 1990s. On December 7, 2018, OPEC agreed to cut 1.2 million barrels per day. Where Are the World's Largest Oil Reserves? Our new online dictionaries for schools provide a safe and appropriate environment for children. Do you remember all the words from last week, September 21–27, 2020? { bidder: 'openx', params: { unit: '541042770', delDomain: 'idm-d.openx.net' }}, 'max': 36, dfpSlots['rightslot'] = googletag.defineSlot('/2863368/rightslot', [[300, 250]], 'ad_rightslot').defineSizeMapping(mapping_rightslot).setTargeting('sri', '0').setTargeting('vp', 'mid').setTargeting('hp', 'right').setTargeting('ad_group', Adomik.randomAdGroup()).addService(googletag.pubads());
{ { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_rightslot2' }},
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In 2018, it exported 25 million barrels of crude oil a day. iasLog("exclusion label : lcp"); 'max': 30, { bidder: 'appnexus', params: { placementId: '11654208' }}, iasLog("criterion : cdo_tc = resp"); { bidder: 'openx', params: { unit: '539971065', delDomain: 'idm-d.openx.net' }}, { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, syncDelay: 3000 OPEC's decisions have a significant impact on future oil prices. googletag.pubads().setTargeting("cdo_t", "technology");
addPrebidAdUnits(pbAdUnits); Russia is the world's second-largest oil exporter after Saudi Arabia. pbjs.que.push(function() { Oil shale producers did not learn that lesson.
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