The Organization of the Petroleum Exporting Countries (OPEC) is a group of 13 major oil-exporting countries. Since 1960, OPEC has coordinated petroleum policy among its members and provided economic and technical assistance to its members. In order to maintain a stable price on the global market, OPEC regulates oil supply in order to prevent volatility that could harm both producing and purchasing nations.

OPEC is composed of Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela (the five founding members), as well as Algeria, Angola, Congo, Equatorial Guinea, Gabon, Libya, Nigeria, and the United Arab Emirates.

OPEC is an international organization that aims to coordinate and unify petroleum policies among member countries, or "member states." The founding members were Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Since then, membership has increased to thirteen countries. The OPEC headquarters are located in Vienna, Austria.

OPEC is an important entity - it is a group of the leading oil exporting countries such as Saudi Arabia, Iraq, Iran and Libya, among others. With oil being such an important asset globally, this has led to OPEC's creation back in 1960. It is responsible for oil supply regulation, as well as trying to ensure stability in the price of oil.

The Organization of Petroleum Exporting Countries, better known as OPEC coordinates the petroleum policies of its member countries. The purpose of these policies is to regulate supply and demand for crude oil in order to stabilize prices. The price of crude oil can fluctuate depending on a number of factors such as economic strength, global supply and demand, and geopolitical turmoil.

The Organization of the Petroleum Exporting Countries, or OPEC, is a powerful international cartel formed by major oil-producing nations to manage and stabilize global oil prices. Founded in 1960, OPEC's member countries collaborate to coordinate production levels and collectively influence oil markets. Notable members include Saudi Arabia, Iran, and Venezuela. By controlling oil output, OPEC aims to ensure a steady income for its members while maintaining market equilibrium. OPEC's decisions significantly impact global energy prices and play a pivotal role in shaping the dynamics of the oil and gas industry.