OPEC is likely to go beyond its current agreement to cut production by 1.2 million barrels a day, Reuters reported on Monday. It could reduce production by an additional 400,000 barrels, the news OPEC Meeting Schedule 2020 OPEC ( O rganization of the P etroleum E xporting C ountries ) – intergovernmental organization founded in 1960 by the first 5 members. Now, OPEC – 13 petroleum-exporting nations Headquartered since 1965 in Vienna, Austria. OPEC 178th (Extraordinary) Meeting of the Conference concludes No 3/2020 Vienna, Austria 05 Mar 2020 The 178 th (Extraordinary) Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) was held in Vienna, Austria, on Thursday, 5 March 2020, under the Chairmanship of its President, HE Mohamed Arkab, Minister of Energy of Algeria and Head of its Delegation.