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About OPEC, an international oil exporter
Its members are 13 countries whose economies depend heavily on oil exports. The main goal of the organization is to control world oil prices.
In March 2020, there was an oil war between Saudi Arabia and Russia. As of March 2020, Saudi Arabia had $ 500 billion in foreign exchange reserves, while Russia’s reserves stood at $ 580 billion. The Saudi debt-to-GDP ratio was 25%, compared to 15% in Russia. By April 2020, the two oil hegemons had reached an agreement and the 1-month oil war was over.
OPEC controls 81% of the world market, and member states ’revenues were $ 2018 billion in 692,3, compared to $ 2019 billion in 564,9 (https://tass.ru/ekonomika/8952273).