What did the poor, oil-producing countries do in the 1970s in order to stimulate their economic development?

Question

Quizplus · Accepted Answer

In the 1970s, poor, oil-producing countries formed the Organization of Petroleum Exporting Countries (OPEC) with the goal of controlling oil prices globally. By coordinating their oil production and export policies, OPEC members were able to influence global oil prices, thereby increasing their revenues and stimulating economic development within their countries.

What Did the Poor, Oil-Producing Countries Do in the 1970s