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OPEC+ establised in 1960: How the bloc affects oil prices? - HUM News English
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OPEC+ establised in 1960: How the bloc affects oil prices? - HUM News English
ABU DHABI: OPEC+, established in 1960, is a powerful global oil alliance that plays a key role in influencing international oil prices by controlling production levels among member countries. The bloc was originally formed as the Organization of the Petroleum Exporting Countries (OPEC) in Baghdad in 1960 by Iraq, Iran, Kuwait, Venezuela, and Saudi Arabia to coordinate oil policies and ensure stable and fair prices. Today, it includes 12 member c…
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