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  1. ​Iran, Iraq, Kuwait and India
  2. Iran, Iraq, Saudi Arabia, and Venezuela
  3. USA, China, Kuwait and India
  4. USA, China, Saudi Arabia, and Venezuela
  5. Kuwait , India, Saudi Arabia, and Venezuela
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Option 2 : Iran, Iraq, Saudi Arabia, and Venezuela

The correct answer is Iran, Iraq, Saudi Arabia, and Venezuela.

  • In News:​
    • India is working to persuade oil-exporting countries to moderate surging oil prices and warned that high prices would push the country to tap alternative import sources such as Iran. 
    • The Organization of Petroleum Exporting Countries and its allies (OPEC+) are expected to discuss a possible easing of supply cuts, amid a rebound in global demand, on July 1.


  • Organization of the Petroleum Exporting Countries:
    • The Organization of the Petroleum Exporting Countries is an intergovernmental organization of 13 countries.
    • Founded on 14 September 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela).
    •  It has since 1965 been headquartered in Vienna, Austria, although Austria is not an OPEC member state. 
  • OPEC – Current Members
  • Algeria, Angola, UAE, Venezuela, Saudi Arabia, Republic of Congo, Libya, Nigeria, Kuwait, Iran, Iraq, Gabon, Equatorial Guinea.
  • OPEC’s main objectives are given below:
    •  Unification and coordination of petroleum policies among Member Countries, in order to achieve just and stable prices for petroleum producers.
    •  Ensuring an efficient, economic and regular supply of petroleum to consuming nations and an adequate return of investment.
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