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Where is the headquarters of OPEC located?
- a)Vienna
- b)Geneva
- c)Brussels
- d)Zurich
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Where is the headquarters of OPEC located?a)Viennab)Genevac)Brusselsd)...
The Organization of Petroleum Exporting Countries (OPEC) is a group of countries that export oil.
- OPEC is a 13-country cartel or intergovernmental organization.
- Founded on 14 September 1960 in Baghdad.
- It was formed to coordinate the petroleum policies of its members and to provide member states with technical and economic aid
- It was founded by its first five members namely, Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela.
- OPEC now has 13 members as of January 2020.
- It has been headquartered in Vienna, Austria, since 1965.
- Even though Vienna is the headquarters of OPEC, Austria is not an OPEC member state.
- OPEC's establishment signaled a shift toward national sovereignty over natural resources, and OPEC policies have come to dominate the global oil market and international relations.
- A new member country must be approved by three-quarters of OPEC's current members, including all five of the founding members.
- Sudan formally made an application to join in October 2015, however it is still not a member.
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Where is the headquarters of OPEC located?a)Viennab)Genevac)Brusselsd)ZurichCorrect answer is option 'A'. Can you explain this answer?
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