1960 ideally to unify and protect the securities of petroleum-producing countries. It is essentially an oil cartel whose operations affected the world and the oil industry to this day. OPEC's objective is to co-ordinate and unifies petroleum policies among Member Countries such as Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Indonesia, Libya, The United Arab Emirates, Algeria, and Nigeria. Rauscher 14) they were created to assure reasonable and stable amounts for petroleum producers; thus an…
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