Milestones
OPEC Founded in Baghdad
1960
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At the Baghdad Conference beginning 10 September 1960, Iran, Iraq, Kuwait, Saudi Arabia and Venezuela founded the Organization of the Petroleum Exporting Countries, answering the Western major oil companies that dominated the fields and held the posted price of crude low. Headquartered in Vienna since 1965, OPEC moved pricing power toward the producer states, a shift the world felt in full in the 1973 embargo.
Facts
Milestone Year Milestone Date Cross-Tradition Connections
Sources
1. EBSCO Research Starters
EBSCO Information ServicesResearch Starters, OPEC Founded, OverviewQuote, Research Starters, OPEC Founded, Overview
established during the Baghdad Conference held in Iraq beginning on September 10, 1960
1. EBSCO Research Starters
EBSCO Information ServicesAssociated With: OPEC, Research Starters, OPEC Founded, Full ArticleQuote, Associated With: OPEC, Research Starters, OPEC Founded, Full Article
OPEC's headquarters have been located in Vienna, Austria, since 1965
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