by jordan salazar and eric magaña


OPEC or Organization of the Petroleum Exporting Countries is an oil cartel which its mission is to coordinate the policies of oil in countries. The goal of this cartel is to secure supply of oil to the consumers.

OPEC was created at the Baghdad Conference in September 1960 ,this an intergovernmental organization created by different countries between them you can see Iraq, Iran, Saudi Arabia and Venezuela.

The OPEC was headquartered in Geneva, Switzerland before moving to Vienna, Austria on September 1965.

Important terms

Policy statement: This is defined as a formal document that outlines the ways through which a government department.

Intergovernmental: Relating to, or conducted between two or more governments.

Headquartered: Provide ( an organization) with headquarters at a specified location.

Organization: This is a social entity that has a collective goal and is linked to an external environment.