<human>:  When was the Gulf Cooperation Council formed?
<bot>: The Gulf Cooperation Council was formed in 1981. It is made up of the Arab states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The GCC is the world's largest oil producer, accounting for 40% of the world's oil production. The GCC is also the world's largest exporter of petroleum products, and it has the largest proven oil reserves in the world.