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The Origins of OPEC [Infographic]

OPEC, the Organization of Petroleum Exporting Countries, has a major influence on global oil prices. It was founded in 1960 in Baghdad by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. We have all heard of it but not everyone knows how much oil OPEC owns and what it replaced. This infographic from Ultius takes a look at the origins of OPEC:

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