OPEC

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OPEC is a grouping of Oil and Petroleum Exporting Countries. It’s an intergovernmental 

organisation (IGO), consisting of 12 nations.

Its aims:

 To protect interests of the member nations

 Stabilise oil prices

 Ensure efficient, economic and regular supply of oil.

Notes:

 Has 78% of the world’s oil reserves

 Produces around 45% of…

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