Ministerial Council

The OPEC Fund's supreme authority is the Ministerial Council, composed of the Minister of Finance or any other authorized senior representative of the member countries. Each member country is represented on the Ministerial Council. 

The council issues policy guidelines, approves the replenishment of the OPEC Fund's resources, ratifies the appointment of the President, approves audited financial statements, authorizes the administration of special funds and takes major policy decisions such as approving the long-term strategy.

The Ministerial Council holds one annual session and elects one of its members to serve as chair for a period of one year.