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OPEC The Organization of the Petroleum export Countries The Organization of the Petroleum Exporting Countries (OPEC) was created at the Baghdad Conference, September 9-14 of 1960. The organization was formed by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. These were the universe members. The group has since grown to thirteen members. on that point are also three countries that have applied to OPEC since the ordinal member was inducted, but they have not been accepted. The five founding members have a veto power over the summing up to new members.

Besides this veto OPEC is set up so that all of the countries are equal members. In order to travel a member of OPEC a country must be a substantial net exporter of petroleum and its interests in the manufacture are fundamentally similar to that of the members. In order to puzzle a member they need to be approved by three fourths of the full members and all of the founding members, because of their veto power. D...If you wishing to get a full essay, order it on our website: Orderessay

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