OPEC history and the global oil market decoded

In this explosive snippet from OPEN COLLAR, Major Gaurav Arya explains how OPEC controls the global oil market by balancing supply and demand. From oil price crashes to Strait of Hormuz disruptions, the episode breaks down why oil-producing nations created OPEC in the first place—and how it became one of the world’s most powerful energy blocs.The episode also explores the origins of OPEC, its founding members, and why countries like Saudi Arabia, Iran, Iraq, Kuwait, and Venezuela wanted to challenge Western dominance over global oil pricing.