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Organisation of Petroleum Exporting Countries (OPEC)
An international organisation concerned with the crude-oil policies of its member states. This organisation 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 worlds oil supply, OPEC has a strong influence on many industrialised nations.
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- Part of Speech: noun
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- Industry/Domain: History
- Category: World history
- Educational Institution: New York State Board of Regents
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