The Organization of the Petroleum Exporting Countries was founded on 14 September 1960 in Baghdad, when government representatives of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela met to discuss ways to increase the price of the crude oil their countries produced. Formed to coordinate and unify petroleum policy among its member states, OPEC moved its headquarters to Vienna in 1965 and grew to include producers across the Middle East, Africa and Latin America, becoming a central actor in the global oil market whose coordinated production decisions can move world oil prices.
Facts
Organization TypeIntergovernmental organization of oil-producing states 1 HeadquartersVienna, Austria (since 1965; originally Baghdad and Geneva) 1 IndustryPetroleum and natural gas 1 Organization Type
Organization Type (category)Intergovernmental Organization 1 Connections
Associated With
Saudi Arabia, Polities Saudi Arabia was one of OPEC's five founding members in 1960 and became its largest oil producer.
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Also in Geography Atlas: where this subject is located.
Also in Geography Atlas: where this subject is located.
Also in Geography Atlas: where this subject is located.
Sources
1. Wikipedia
WikipediaOPEC, 1960-1975: Founding and expansion
Government representatives from Iran, Iraq, Kuwait, Saudi Arabia and Venezuela met in Baghdad to discuss ways to increase the price of crude oil produced by their countries.
Introduction
the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market
In Era: The Cold War, OPEC, era placement
Government representatives from Iran, Iraq, Kuwait, Saudi Arabia and Venezuela met in Baghdad.
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