OPEC: Managing Global Oil Supply for Economic Stability

Introduction: The Organization of the Petroleum Exporting Countries (OPEC), established in 1960 at the Baghdad Conference, has evolved into a crucial intergovernmental organization that plays a pivotal role in managing the global supply of oil. Comprising significant oil-exporting nations, OPEC aims to regulate oil prices, prevent market fluctuations, and ensure stability in both oil-producing and...