Which of the following countries founded the Organisation of the Petroleum Exporting Countries (OPEC) in 1960?

(A) Iran
(B) Iraq
(C) Indonesia
(D) Libya
(E) Saudi Arabia

Choose the correct answer from the options given below:

Correct option is C

Among the given options, Indonesia and Libya were not founding members. Indonesia joined in 1962, and Libya joined in 1962 as well. Therefore, the correct answer includes Iran (a), Iraq (b), and Saudi Arabia (e) only.

Information Booster:

• OPEC was established on 14 September 1960 at the Baghdad Conference.
• The organization was created to coordinate and unify petroleum policies among member countries.
• The headquarters of OPEC is in Vienna, Austria (since 1965).
• Venezuela played a major role in initiating discussions for OPEC’s formation.
• Indonesia left OPEC in 2016 but rejoined briefly in 2017 before suspending membership again.
• OPEC's decisions influence global oil prices and supply.