The Organization of Petroleum Exporting Countries (OPEC) is a body founded in 1961 by Saudi Arabia, Iran, Iraq, Kuwait, and Venezuela. Since their founding they’ve been joined by a half dozen or so other nations.

Together these countries hold eighty percent of the world’s petroleum reserves and account for forty percent of its production.

The goal of this organization is to ensure stability within oil prices, attempting to keep the global rate at around $70–80 per barrel. A goal which has been met with mixed success over the years.

OPEC is a name that is common on the news, especially…

kimberly e.a.b

A weird little author who loves to write about history and human sexuality.

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