OPEC is the Organization of the Petroleum Exporting Countries. Its mission is to secure a return to oil investors and an economic supply of oil to consumers. OPEC is intergovernmental and was created at the Baghdad Conference on 10–14 September 1960, by Iraq, Kuwait, Iran, Saudi Arabia and Venezuela. Then it was joined by nine more governments: Libya, United Arab Emirates, Qatar, Indonesia, Algeria, Nigeria, Ecuador, Angola, and Gabon.
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