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OPIC meaning in Regional ?

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Answer: What is Organization of Petroleum Importing Countries mean?


The Organization of Petroleum Importing Countries was a cartel (or a proposal for a cartel) of countries that primarily consume petroleum, to counter the influence of OPEC, the Organization of Petroleum Exporting Countries.

It was reported in the early 1980s that Costa Rica had led the establishment of a group of countries under this name.

There were also calls in the early 21st century for an organization fulfilling such a role. It was argued that it was in the interests of developing countries and that it would also act to the benefit of developed countries.

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