Who formed the OPEC?
The Organization of the Petroleum Exporting Countries (OPEC) was formed at the Baghdad Conference in 1960 by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela to serve as a platform for oil producers to achieve their economic objectives. The five founding members were later joined by Qatar, Indonesia, Libya, United Arab Emirates, Algeria, and Nigeria. Ecuador and Gabon both had their membership suspended at their own request in 1992 and 1994 respectively.
