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OAPEC was established in 1968 with permanent headquarters in Kuwait It is an instrument of Arab cooperation whose objective is to provide support to the Arab oil industry. Its activities are developmental in nature, and its membership is restricted to Arab countries with oil revenues that constitute a significant part of their GNP. Furthermore, it caters for issues that relate to energy in all members of the Arab League, and for that purpose a meeting is organized every four years.
OPEC on the other hand, is an international organization established in 1960 with the purpose of insuring a fair price for oil and support market stability. All issues affecting the price of oil is OPEC's prime domain.
The Organization of the PetroleumExportingCountries (OPEC) is made up of Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela; since 1965 its international headquarters has been in Vienna, Austria.
After the Six Day War of 1967, the Arab members of OPEC formed a separate, overlapping group, the Organization of ArabPetroleumExportingCountries, for the purpose of centering policy and exerting pressure on the West over its support of Israel.
But the division of OPEC countries occasioned by the Iraq-Iran War and the Iraqi invasion of Kuwait marked a low point in the cohesion of OPEC.
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