The Organization of the Petroleum Exporting Countries
OPEC is an intergovernmental bloc of major oil-exporting countries that coordinates production policy to influence global crude prices. This reference lists each member with the year it joined, its approximate production in million barrels per day, and its proven reserves, with sorting to compare them.
How it works
Each member carries an accession year — 1960 for the five founders who met in
Baghdad — plus approximate crude production in million barrels per day (mb/d) and
proven reserves in billion barrels. Sorting reorders the table by production or
reserves. Figures are approximate and move with quota decisions, new discoveries
and market conditions.
Notes and example
- OPEC was founded in Baghdad in 1960 by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
- Saudi Arabia is the largest producer and the de facto swing producer.
- Venezuela holds the bloc’s largest proven reserves, though much is heavy crude.
- Members periodically join, leave or suspend membership, so the roster changes.