The 179th Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) will be held in Vienna, Austria, on June 9, while the 9th OPEC and non-OPEC Ministerial Meeting will be held on June 10.
The 178th (Extraordinary) OPEC Meeting was held in Vienna on March 5, 2020. The conference took note of oil market developments since it last met in Vienna on December 6, 2019 and reviewed the oil market outlook for the remainder of 2020.
OPEC is an intergovernmental organization founded in 1960 by the first 5 members. Now, OPEC consists of 13 petroleum-exporting nations and is headquartered in Vienna, Austria. The 13 countries account for 40% of global oil production and 73% of the world’s “proven” oil reserves. OPEC meetings a major influence on global oil prices.
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