The Organization of the Petroleum Exporting Countries (OPEC OH-pek) is an organization enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize profit. It was founded on 14 September 1960 in Baghdad by the first five members: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The organization, which currently comprises 12 member countries, accounted for 38 percent of global oil production, according to a 2022 report.
Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela form the Organization of the Petroleum Exporting Countries (OPEC)
The Organization of the Petroleum Exporting Countries (OPEC OH-pek) is an organization enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively...
Historical Significance
The Organization of the Petroleum Exporting Countries (OPEC OH-pek) is an organization enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize profit.
Events Before
Johnny Cash performs the first of many free concerts behind bars at San Quentin State Prison in California
Johnny Cash performs the first of many free concerts behind bars at San Quentin State Prison in California
Chad becomes an autonomous republic in the French Community
The French Community (French: Communauté française) was the constitutional organization set up in October 1958 between France and its remaining African colonies, then in the process of…
USSR's Luna 1 becomes the first spacecraft to escape Earth's gravity
A gravity assist, gravity assist maneuver, swing-by, or generally a gravitational slingshot in orbital mechanics, is a type of spaceflight flyby which makes use of the relative movement (e.g.
TV western "Rawhide," starring Clint Eastwood, premieres on CBS
TV western "Rawhide," starring Clint Eastwood, premieres on CBS
Plane crash known as "The Day the Music Died" kills musicians Buddy Holly, Ritchie Valens, J. P. Richardson (aka The Big
Plane crash known as "The Day the Music Died" kills musicians Buddy Holly, Ritchie Valens, J. P. Richardson (aka The Big Bopper), and the pilot near Clear Lake, Iowa
Events After
Gabrielle Carteris is born
Gabrielle Carteris is born
Longest recorded strike ends as Danish barbers' assistants end their 33-year strike
Longest recorded strike ends as Danish barbers' assistants end their 33-year strike
Berry Gordy signs The Supremes to Motown Records
The Supremes were an American girl group formed in Detroit, Michigan, in 1959 as the Primettes.
First live, nationally televised presidential news conference, held by JFK
First live, nationally televised presidential news conference, held by JFK
"I Fall to Pieces" single released by Patsy Cline (Billboard Song of the Year 1961)
"I Fall to Pieces" is a song written by Hank Cochran and Harlan Howard that was originally recorded by Patsy Cline.
More from the 1960s
Apollo 11 Moon Landing
NASA's Apollo 11 mission successfully lands the first humans on the Moon. Neil Armstrong and Buzz Aldrin become the first people to walk on the lunar surface.
space exploration
Martin Luther King Jr.'s "I Have a Dream" Speech
Martin Luther King Jr. delivers his iconic "I Have a Dream" speech during the March on Washington for Jobs and Freedom, calling for an end to racism in the United States.
civil rightspolitics government
birth
Tommy Morrison is born
Tommy Morrison, American professional boxer, known for american boxer, was born on 1969-01-02.
birth
Gabrielle Carteris is born
Gabrielle Carteris is born
Frequently Asked Questions
- What happened on September 14, 1960?
- The Organization of the Petroleum Exporting Countries (OPEC OH-pek) is an organization enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize profit. It was founded on 14 September 1960 in Baghdad by the first five members: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The organization, which currently comprises 12 member countries, accounted for 38 percent of global oil production, according to a 2022 report.
- Why is Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela form the Organization of the ... significant?
- The Organization of the Petroleum Exporting Countries (OPEC OH-pek) is an organization enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize profit.