4 Indonesia is a former member. By continent, two are South American, seven African, and six are Asian (Middle East). Two-thirds of OPEC’s oil production and reserves are in its six Middle-Eastern countries that surround the oil-rich Persian Gulf. On September 14, 1960, these five countries met in Baghdad and officially founded OPEC. The organization aimed to coordinate petroleum policies, stabilize oil markets, secure fair prices for producers, and ensure a reliable supply of oil to consumers.
OPEC’s creation marked a turning point in global energy politics. It allowed member countries to collectively manage oil production, influence prices, and protect their economic interests. Over time, OPEC expanded to include more nations and became a key player in global energy and economic discussions.
