OPEC

The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization comprising 13 such countries and oil producers. Set up on September 14, 1960, it was to synchronize and unify petroleum insurance among its members. The OPEC flag consists of a green background with a white circle in the center to show the earth's natural resources. The colors also represent energy, growth and stability in the global oil market. The circle logo demonstrates the unity and cooperation among member nations' work in managing their oil production and prices.