The Organization of Arab Petroleum Exporting Countries (OAPEC) is a regional organization founded in 1968 to promote cooperation among its member states in the petroleum sector. It aims to coordinate policies related to oil production, pricing, and marketing, enhancing the economic interests of its members, which include countries like Saudi Arabia, Kuwait, and Iraq. OAPEC also focuses on technical cooperation and the development of oil resources. By fostering collaboration among its members, the organization seeks to strengthen their positions in the global energy market and ensure sustainable development in the region's oil industry.