OPEC
The Organization of Petroleum Exporting Countries, which coordinates oil supply and prices.
Quick answer
OPEC coordinates oil output among major producers and moves crude prices.
Definition
OPEC is the group of oil-producing countries that coordinates output to influence crude prices. Its meetings and production decisions move oil and, through it, oil-linked currencies. Energy traders watch its announcements closely.
How It Works
- Its decisions move oil prices
- Oil-linked currencies react to it
- Meetings are scheduled catalysts
Trading Tips
1
Track OPEC meeting dates
2
Read its output decisions for oil direction
3
Watch oil currencies like the loonie around it
Related Terms
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