From Longman Dictionary of Contemporary EnglishOPECOPEC /ˈəʊpek $ ˈoʊ-/ noun PGTPG (Organization of Petroleum Exporting Countries) an organization of countries that produce and sell oil
Examples from the Corpus
OPEC• Richardson was reluctant to blame OPEC for this budding return to energy malaise.• Despite attempts to prevent this by OPEC, the price of oil plummeted in 1986.• Lukman, now foreign minister, was re-elected OPEC president in November.• Our domestic oil had been price-controlled since 1973, to keep oil companies from reaping a windfall at the higher OPEC price.• One final point must be made clear to the reader regarding OPEC and Middle East oil supplies.• These pressures have been tearing OPEC apart.• This would be the first time OPEC has changed its quota in 2 1 / 2 years.From Longman Business DictionaryOPECOPEC /ˈəʊpekˈoʊ-/ nounCOMMERCEORGANIZATIONS Organization of Petroleum Exporting Countries; an organization of nations that produce and sell oil and which tries to keep the price of oil at a suitable levelPractically all payments to OPEC countries are made in dollars.the reduction in demand for OPEC oil 