The founding members of OPEC are?

A. Algeria, Iran, Iraq, Saudi Arabia and Kuwait
B. Nigeria, Libya, Iraq and Saudi Arabia
C. Venezuela, Nigeria, Libya, Iran and Iraq
D. Saudi Arabia, Iran, Iraq Kuwait and Venezuela

Correct Answer:

Option D – Saudi Arabia, Iran, Iraq Kuwait and Venezuela

Explanation

The founding members of OPEC were Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. Other countries joining OPEC were Algeria (1969), Indonesia (1962), Libya (1962), Nigeria (1971), Qatar (1961), and the United Arab Emirates (1967). Ecuador and Gabon both joined OPEC in 1973, but withdrew in 1992 and 1995, respectively.