The initial meeting for the Organization of the Petroleum Exporting Countries (OPEC) took place in Baghdad, Iraq, in September 1960. At that meeting, five founding nations attended: Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. These countries aimed to coordinate and unify petroleum policies to secure fair and stable prices for petroleum producers.
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Venezuela and Ecuador are the only OPEC members in Latin America.
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The Organization of the Petroleum Exporting Countries(OPEC) is made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. Henceforth, any country that is not one of those is not part of the OPEC.
OPEC wants gas prices to be higher so that its member nations can profit more from oil.
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