Solution:Venezuela is a part of OPEC among the countries of South America. OPEC was established in Baghdad, Iraq in 1960 as a result of the signing of an agreement by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
With Qatar withdrawing its membership from this organization in 2019 and Angola withdrawing its membership from this organization in 2024, the number of OPEC members is currently reduced to 12. Its member countries include Saudi Arabia, Iran, Iraq, Kuwait, United Arab Emirates, Nigeria, Libya, Algeria, Ecuador, Gabon, Congo, Equatorial Guinea.