Consider the following statements regarding Organisation It was formed in the year 1960 It has fifte...........

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Consider the following statements regarding Organisation-

It was formed in the year 1960.
It has fifteen member as of now and with withdrawal of Qatar from X in January 2019, the number of member countries will reduce to 14.
It is headquartered at Vienna in Austria.

Identify the name of Organisation based on the given above statements-

Organization of the Petroleum Exporting Countries (OPEC)

Organisation for Economic Co-operation and Development (OECD)

Gulf Cooperation Council (GCC)

None of the Above

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Explanation:

First option is correct.

The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization of 14 nations, founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela), and headquartered since 1965 in Vienna, Austria.

As of September 2018, the then 14 member countries accounted for an estimated 44 percent of global oil production and 81.5 percent of the world's "proven" oil reserves, giving OPEC a major influence on global oil prices that were previously determined by the so called "Seven Sisters” grouping of multinational oil companies.