The Organization of the Petroleum Exporting
Countries is a cartel of twelve developing countries consisting of Algeria, Angola,
Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab
Emirates and Venezuela. OPEC has maintained its headquarters in Vienna since 1965,
and hosts regular meetings among the oil ministers of its member countries. Indonesia
withdrew in 2008 after it became a net importer of oil, but stated it would likely
return if it became a net exporter in the world again.
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