Editing OPEC (section)

=== Leadership and decision-making ===
{{See also|List of secretaries general of OPEC}}
[[File:158ava Reunión de países miembros de la OPEP (5251965558).jpg|thumb|alt=refer to caption|OPEC Conference delegates at [[Swissotel]], [[Quito]], [[Ecuador]], December 2010]]
The OPEC Conference is the supreme authority of the organisation, and consists of delegations normally headed by the oil ministers of member countries. The chief executive of the organisation is the [[List of Secretaries General of OPEC|OPEC secretary general]]. The conference ordinarily meets at the Vienna headquarters, at least twice a year and in additional extraordinary sessions when necessary. It generally operates on the principles of unanimity and "one member, one vote", with each country paying an equal membership fee into the annual budget.<ref name="statute">{{cite web |year=2012 |title=Statute |url=http://www.opec.org/opec_web/static_files_project/media/downloads/publications/OPEC_Statute.pdf |url-status=live |archive-url=https://web.archive.org/web/20141021084736/http://www.opec.org/opec_web/static_files_project/media/downloads/publications/OPEC_Statute.pdf |archive-date=21 October 2014 |access-date=12 December 2014 |work=OPEC}}</ref> However, since Saudi Arabia is by far the largest and most-profitable oil exporter in the world, with enough capacity to function as the traditional [[swing producer]] to balance the global market, it serves as "OPEC's ''de facto'' leader".<ref name="FT2015" />