Solution:Venezuela (South America) is part of OPEC. OPEC is a permanent inter governmental organization of 13 oil exporting developing Nations. It was founded in 1960. OPEC Secretariat is the executive organ of OPEC located in Vienna. It also functions as Headquarters of the organisation. Member countries of OPEC are Algeria, Angola, Congo-Equotorial Guinea, Gabon, Iran, Kuwait Libya, Nigeria, Saudi Arabia, UAE, Venezuela.