Organization of the Petroleum Exporting Countries (OPEC)
Member nations include Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela (opec.org, 2001)
OPEC Member nations supply about 40 percent of the world’s oil (opec.org, 2001)
Member nations supply the U.S. with 47.2 percent of oil imported to the states. This equals 5.465 million barrels per day (API, July 2001)
These nations hold more than ¾ of the world’s total crude oil reserves (opec.org, 2001)