OPEC stands for Organization of the Petroleum Exporting Countries. It is an intergovernmental organisation formed in September 1960 at the Baghdad Conference. The headquarters of OPEC is located in Vienna since 1965. Before 1965 it had its headquarters in Geneva, Switzerland. As per the statute of OPEC any country can opt for the membership, the primary condition being the nation must be a net exporter of oil and the thoughts of the nation ought to be like OPEC. To know more watch this video.
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