What does OPEC mean and why was it formed?

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asked Oct 6, 2016 46.1k views

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Sajoshi · Answer 1 · 2016-10-11T23:10:02+0000

OPEC is the Organization of the Petroleum Exporting Countries. It was formed to ensure that the oil market was not dominated by one sole country. It sets out to coordinate and unify the petroleum policies.

What does OPEC mean and why was it formed?

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