The ('''OPEC''') is made up of Algeria , Indonesia , Iran , Iraq , Kuwait , Libya , Nigeria , Qatar , Saudi Arabia , the United Arab Emirates and Venezuela ; since 1965 its international headquarters have been in Vienna , Austria .
The principal aim of the Organization, according to its Statute , is "the coordination and unification of the Petroleum policies of member countries and the determination of the best means for safeguarding their interests, individually and collectively; [devising ways and means of ensuring the stabilization of prices in international Oil Markets with a view to eliminating harmful and unnecessary fluctuations; due regard at all times to the interests of the producing nations and to the necessity of securing a steady income to the producing countries; an efficient, economic and regular supply of petroleum to consuming nations, and a fair return on their capital to those investing in the petroleum industry." 1
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