Do some research into OPEC (Organization of the Petroleum Exporting Countries). What is it? Why was it founded? When was it founded? Name the member countries of OPEC.

OPEC is an organization that counts 13 countries, who are among the leaders in the oil-exporting business. The organization was founded in 1960, and today there are 13 member states. Those are Indonesia, Libya, the United Arab Emirates , Algeria, Nigeria , Ecuador , Gabon , Angola, Equatorial Guinea, and Congo. The main of organization is to provide stable and functional market and to create petroleum policies.

Explanation:

Although today there are 13 members, there were sixteen at the time.

Qatar who created the organization in 1960 was not a member since 2019. Indonesia was also a member until 2016, and most recently Ecuador is not a part since 2020.

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