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Organization of Petroleum Exporting Countries, an international organization concerned with the crude-oil policies of its member states. This organization was founded in 1960, and has 11 members, including Kuwait, Algeria, Iran, Iraq, Indonesia, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela. Due to their control of most of the worldﾒs oil supply, OPEC has a strong influence on many industrialized nations.
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