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Organization of Petroleum Exporting Countries

(Encyclopedia)Organization of Petroleum Exporting Countries (OPEC), multinational organization (est. 1960, formally constituted 1961) that coordinates petroleum policies and economic aid among oil-producing nations...

OPEC

(Encyclopedia)OPEC: see Organization of Petroleum Exporting Countries. ...

Khalifa bin Hamad al-Thani

(Encyclopedia)Khalifa bin Hamad al-Thani, 1932–2016, emir of Qatar (1972–95). Khalifa was the son of Hamad bin Abdullah al-Thani, the second emir's heir apparent, but Hamad died (1948) before the emir. During t...

petroleum

(Encyclopedia)petroleum, oily, flammable liquid that occurs naturally in deposits, usually beneath the surface of the earth; it is also called crude oil. It consists principally of a mixture of hydrocarbons, with t...

cracking of petroleum

(Encyclopedia)cracking of petroleum: see petroleum. ...

wage and price controls

(Encyclopedia)wage and price controls, economic policy measure in which the government places a ceiling on wages and prices to curb inflation. Also known as incomes policy, such programs have generally been avoided...

Low Countries

(Encyclopedia)Low Countries, region of NW Europe comprising the Netherlands, Belgium, and the Grand Duchy of Luxembourg. The northern parts of the Netherlands and Belgium form a low plain bordering on the North Sea...

oil industry

(Encyclopedia)oil industry, the business of discovering oil (petroleum), extracting it from the ground, refining it into a variety of products, and distributing it to the public. The development of the oil industry...

Organization of African Unity

(Encyclopedia)Organization of African Unity (OAU), former international organization, established 1963 at Addis Ababa, Ethiopia, by 37 independent African nations to promote unity and development; defend the sovere...