The stated mission of the Organization of the Petroleum Exporting Countries is to collaborate on petroleum policy and development in order to control oil markets through the oil supply. The main motives are to ensure the membership countries of OPEC profit while producing the energy the world economy needs.
OPEC was created as an intergovernmental organization in 1960 at the Baghdad Conference by Kuwait, Saudi Arabia, Iran, Iraq and Venezuela. OPEC has since been joined by nine other members: Qatar, Indonesia, Libya, United Arab Emirates, Algeria, Nigeria, Ecuador, Angola and Gabon. However, Indonesia has suspended its membership, and Gabon is no longer a member.