The Organization of the Petroleum Exporting Countries (OPEC) is an organization enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize profit. It was founded on 14 September 1960 in Baghdad by the first five members: Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. The organization, which currently comprises 12 member countries, accounted for 38 percent of global oil production, according to a 2022 report. Additionally, it is estimated that 79.5 percent of the world's proven oil reserves are located within OPEC nations, with the Middle East alone accounting for 67.2 percent of OPEC's total reserves.

As of January 2024, OPEC has 12 member countries: five in the Middle East (West Asia), six in Africa, and one in South America. According to the U.S. Energy Information Administration (EIA), OPEC's combined rate of oil production (including gas condensate) represented 44% of the world's total in 2016, and OPEC accounted for 81.5% of the world's "proven" oil reserves. Subsequent reports from 2022 indicate that OPEC member countries were then responsible for about 38% of total world crude oil production. It is also estimated that these countries hold 79.5% of the globe's proven oil reserves, with the Middle East alone accounting for 67.2% of OPEC's reserves.

The six African members are: Algeria, Republic of the Congo, Equatorial Guinea, Gabon, Libya and Nigeria.

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