OPEC was established in Baghdad, Iraq in 1960, following the meeting of five leading oil producing countries summoned by Iraq. The five countries are Iraq, Kuwait, Saudi Arabia, Venezuela and Qatar.
OPEC MEMBER STATES
OPEC is currently made up of thirteen member states and they are:
- Saudi Arabia
- United Arab Emirate
NOTE: The headquarters of OPEC is in Vienna, Austria, where ordinary meetings of the organization take place.