Correct Answer: Option B

Explanation

OPEC stands for the Organization of Petroleum Exporting Countries. It is an intergovernmental organization of 13 nations,
founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela), and headquartered since
1965 in Vienna, Austria. The purpose of OPEC is to coordinate and unify petroleum policies among Member Countries, in order to
secure fair and stable prices for petroleum producers.

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