Which of the following is a founding member of OPEC?
Answer Details
Venezuela is a founding member of OPEC.
OPEC (the Organization of the Petroleum Exporting Countries) is a group of countries that work together to regulate the supply and price of oil on the global market. It was established in 1960 by five founding members, including Venezuela, along with Saudi Arabia, Iran, Iraq, and Kuwait. The purpose of the organization was to unify and coordinate the petroleum policies of its member countries and ensure the stabilization of oil markets in order to secure an efficient, economic, and regular supply of petroleum to consumers. Over time, OPEC has grown to include several more member countries, but Venezuela remains one of the original and founding members of the organization.