Organizations
Organization of the Petroleum Exporting Countries
Also Known As OPEC
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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 Cross-Tradition Connections
In the Other Atlases
- Also in Economics Atlas: OPEC, the same subject.
Sources
1. Wikipedia
WikipediaOPEC, 1960-1975: Founding and expansionQuote, OPEC, 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.
1. Wikipedia
WikipediaIntroductionQuote, Introduction
the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market
1. Wikipedia
WikipediaIn Era: The Cold War, OPEC, era placementQuote, 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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