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C o n t e n t s

Publishers

OPEC

Organization of the Petroleum Exporting Countries

Helferstorferstraße 17

1010 Vienna

Austria

Telephone: +43 1 211 12/0

Telefax: +43 1 216 4320

Contact: Editor-in-Chief, OPEC Bulletin

Fax: +43 1 211 12/5081

E-mail:

prid@opec.org

Website:

www.opec.org

Website:

www.opec.org

Visit the OPEC website for the latest news and infor-

mation about the Organization, and for back issues

of the

OPEC Bulletin,

which are available free of

charge in PDF format.

OPEC Membership and aims

OPEC is a permanent, intergovernmental Organization,

established in Baghdad, on September 10–14, 1960,

by IR Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Its

objective — to coordinate and unify petroleum policies

among its Member Countries, in order to secure a steady

income to the producing countries; an efficient, economic

andregularsupplyofpetroleumtoconsumingnations;and

a fair return on capital to those investing in the petroleum

industry. Today, the Organization comprises 14 Members:

Qatar joined in 1961; Libya (1962); United Arab Emirates

(Abu Dhabi, 1967); Algeria (1969); Nigeria (1971); Angola

(2007); Equatorial Guinea (2017). Ecuador joined OPEC in

1973, suspended its Membership in 1992, and rejoined in

2007.Indonesiajoinedin1962,suspendeditsMembership

on December 31, 2008, reactivated it on January 1, 2016,

but suspended its Membership again on December 31,

2016. Gabon joined in 1975 and left in 1995; it reactivated

its Membership on July 1, 2016.

Cover

This month’s cover reflects the first

anniversary of the ‘Declaration of

Cooperation’ signed on December 10, 2016.

O P E C b u l l e t i n

Vol XLVIII, No 6, November 2017, ISSN 0474–6279

Dec larat ion of Cooperat ion

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History in the making: ‘Declaration of Cooperation’

Witnesses to history

Noureddine Boutarfa, Algeria

Eng Bijan Namdar Zanganeh, IR Iran

Jabbar Ali Hussein Al-Luiebi, Iraq

Issam Almarzooq, Kuwait

Dr Emmanuel Ibe Kachikwu, Nigeria

Dr Mohammed Bin Saleh Al-Sada, Qatar

Khalid Al-Falih, Saudi Arabia

HRH Prince Abdul Aziz Bin Salman, Saudi Arabia

Suhail Mohamed Al Mazrouei, United Arab Emirates

Eulogio Del Pino, Venezuela

Dr Mohammed bin Hamad Al-Rumhy, Oman

Alexander Novak, Russian Federation

OPEC Board of Governors

Estévâo Pedro, Angola

Eng José Maria Botelho de Vasconcelos, Angola

Saudi-Russia relations support the ‘Declaration of Cooperation’

Dr Michael Häupl, Austria

Natig Aliyev: tribute to an accomplished man

Secretary General’s visits to OPEC Member Countries

The Joint Ministerial Monitoring Committee

The High-level Committee Meetings of the Algiers Accord

The Joint Technical Committee

‘Declaration of Cooperation’ is succeeding in restoring balance and lasting

stability to the market

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