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Finance Dictionary and Glossary of Investment Terms
OPEC
Definition 1.
See: Organization of Petroleum Exporting Countries
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Definition 2.
Organization of Petroleum Exporting Countries. A collective of countries founded in 1960 that choose to collaborate in order to manage the exportation of their crude oil to the rest of the world. Because of their ability to adjust production levels, they possess a great deal of influence on the price or oil.
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