OPEC

The Organization of the Petroleum Exporting Countries -- a cartel of oil-producing nations founded in 1960 that coordinates production quotas to influence global crude oil prices. OPEC's decisions directly impact energy stocks, inflation expectations, and the currencies of oil-dependent economies. When OPEC cuts production, oil prices tend to rise; when members cheat on quotas or increase output, prices fall. The expanded OPEC+ alliance, which includes Russia and other non-member producers, has become the more relevant grouping since 2016.