What does OPEC stand for and what is its purpose? What does OPEC stand for and what is its purpose? Original Petroleum Exporters for Change; the organization offers collective bargaining for its members Organization for Packing and Exporting Oil; the organization publicizes who has the best crude oil. Organization for Petroleum Economic Commutation; the organization researches the best alternative energy solutions Organization of Petroleum Exporting Countries; the organization controls oil production and exportation on behalf of member countries Question at position 2 2