OPEC

Organization of the Petroleum Exporting Countries (OPEC, /ˈoʊpɛk/ OH-pek, or OPEP in several other languages) is an intergovernmental organization of 14 nations, founded in 1960 in Baghdad by the first five members, and headquartered since 1965 in Vienna. As of 2015, the 14 countries accounted for an estimated 43 percent of global oil production and 73 percent of the world's "proven" oil reserves, giving OPEC a major influence on global oil prices.

OPEC

Organization of the Petroleum Exporting Countries (OPEC, /ˈoʊpɛk/ OH-pek, or OPEP in several other languages) is an intergovernmental organization of 14 nations, founded in 1960 in Baghdad by the first five members, and headquartered since 1965 in Vienna. As of 2015, the 14 countries accounted for an estimated 43 percent of global oil production and 73 percent of the world's "proven" oil reserves, giving OPEC a major influence on global oil prices.