OPEC (Organization of the Petroleum Exporting Countries) was created in Baghdad in 1960 as an intergovernmental organization with 5 founding members: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Since then, other members have come and gone, including Qatar, Ecuador, Indonesia, UAE, Algeria, Nigeria, Angola, and Gabon.
According to OPEC’s site, “OPEC’s objective is to co-ordinate and [...]
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