Organization of the Petroleum Exporting Countries i.e., OPEC was founded on September 10–14, 1960, by Iraq, Kuwait, Iran, Saudi Arabia and Venezuela. It is an intergovernmental organization formed at a time when the international oil market was largely separate from centrally planned economies.
It was founded by four countries : Iraq, Kuwait, Iran, Saudi Arabia and Venezuela on 10th -14th September, 1960.
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Organization of the Petroleum Exporting Countries i.e., OPEC was founded on September 10–14, 1960, by Iraq, Kuwait, Iran, Saudi Arabia and Venezuela. It is an intergovernmental organization formed at a time when the international oil market was largely separate from centrally planned economies.