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1. Introduction
The Organization of the Petroleum Exporting Countries (OPEC) is a significant international organization that plays a crucial role in global energy markets. Established in 1960 in Baghdad, Iraq, OPEC aims to coordinate and unify the petroleum policies of its member countries to ensure the stabilization of oil markets for the benefit of consumers, producers, and the global economy. Over the years, OPEC has evolved into a key player in the international arena, influencing not only oil prices but also the broader economic landscape through its decisions. OPEC originated from a need for oil-producing nations to collaborate and assert greater control over their resources. Initially, a handful of founding members, including Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela, sought to counterbalance the dominance of multinational oil companies and secure fair and stable prices for their oil exports. As the organization grew, more countries joined, reflecting the increasing
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