Oil grp. that includes Iran and Kuwait (4)

I believe the answer is:

opec

(Other definitions for opec that I've seen before include "Group of oil-producing countries" , "Group of petroleum producing countries, formed in 1961" , "Organisation intended to control the production and sale of petroleum" , "Cartel of oil-producing countries" , "price-fixers?" .)

I've seen this clue in the USA Today.

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