Question

Answer these 7 questions about the Organization of the Petroleum Exporting Countries

1. Is it an economic, political, or military organization? It can be more than one.

2. Who are the members, give at least 3 unless there are fewer.

3. What is it? What does it do? How does it do it?

4. Where is it located?

5. When was it formed?

6. Why was it formed?

7. Why is it important today?

Answer 1

OPEC is an economic organization composed of oil-exporting nations. It was formed in 1960 and is headquartered in Vienna, Austria. Members include Saudi Arabia, Iran, Iraq, and others.

Step-by-step explanation:

Organization of the Petroleum Exporting Countries (OPEC)

OPEC is an economic organization composed of oil-exporting nations. It seeks to maximize profits related to oil exports. OPEC was formed in 1960 and is headquartered in Vienna, Austria. The organization is important today because it plays a significant role in influencing global oil prices and ensuring stability in the oil market.

Members of OPEC include:

Saudi Arabia

• Iran
• Iraq
• United Arab Emirates
• Venezuela
• Angola
• Nigeria
• Ecuador