OPEC_OPEC

The Organization of the Petroleum Exporting Countries (Organization of the Petroleum Exporting Countries, abbreviated OPEC, or OPEC for short) is an international trade organization founded in 1960 and headquartered in Vienna, Austria, with members mainly from Iraq, Saudi Arabia, Venezuela, Kuwait, Qatar, Libya, The main purpose of OPEC is to coordinate and harmonize the petroleum policies and prices of its member countries and to safeguard oil revenues.