The Organization of the Petroleum Exporting Countries (OPEC) is a permanent intergovernmental organization founded on September 14, 1960, in Baghdad by five founding members: Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela[2][3]. Its core mission is to coordinate and unify petroleum policies among its member countries to stabilize oil prices, secure a steady income for producers, and ensure a regular, efficient supply of petroleum to consumers globally[2][7]. OPEC's founding aimed to reclaim control over oil pricing from major multinational oil corporations and to prevent them from unilaterally lowering posted oil prices[3][4]. Initially headquartered in Geneva, Switzerland, OPEC moved its base to Vienna, Austria, in 1965, where it remains today[1][2][6]. The organization now comprises 15 member countries across Africa, the Middle East, and South America, including Algeria, Angola, Nigeria, and the United Arab Emirates[2][4]. Membership has seen fluctuations, with countries like Ecuador, Gabon, Indonesia, and Qatar temporarily suspending or terminating membership due to disagreements over production quotas or shifting energy strategies[4]. OPEC makes decisions primarily through the OPEC Conference, where oil ministers from member states meet at least twice yearly, operating largely on unanimity and equal voting rights, though Saudi Arabia acts as the organization's de facto leader due to its significant production capacity[1]. The group influences global oil markets by coordinating production quotas to manage supply, aiming to mitigate harmful price fluctuations and maintain market stability[2][5]. Historically, OPEC gained political and economic prominence in the 1970s by nationalizing oil reserves and leveraging oil supply as geopolitical power, notably during the 1973 oil embargo, which caused a dramatic price surge and global economic disruption[3]. The organization’s ability to impact global energy markets has made it a critical player in international business, technology, and economic policy discussions. Today, OPEC continues to shape energy