OPEC Organization of Petroleum Exporting Countries (OPEC for short) A multinational organization established to coordinate its members and to provide member countries with technical and economic aid.The organization was established in September,1960 by Iran,Irag,Kuwait,Saudi Arabia and Venezuela.The headquarters of OPEC,initially in Geneva,were moved to Vienna in 1965 数更价首5大考OPEC Organization of Petroleum Exporting Countries (OPEC for short) A multinational organization established to coordinate its members and to provide member countries with technical and economic aid. The organization was established in September, 1960 by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The headquarters of OPEC, initially in Geneva, were moved to Vienna in 1965