OPEC stands for the Organization of the Petroleum Exporting Countries. As the name suggests, OPEC is made up of 13 of the world’s largest oil-exporting countries that work together to coordinate international oil prices and policies. Formed in 1960, OPEC has invested billions of dollars in drilling platforms, pipelines, storage terminals, and shipping.
Oil is the primary export for many of the organization’s member nations, so it’s in their best interests to make sure that prices and global energy demand remain stable. But just how role does OPEC play in all of this? Keep reading to learn more about OPEC and its …
