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.
OPEC directs members to negotiate price increases to offset the devaluation of the US dollar
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
Charles "Chub" Feeney becomes the President of Major League Baseball's National League
Charles Stoneham "Chub" Feeney (August 31, 1921 – January 10, 1994) was an Irish-American front office executive in Major League Baseball.
Colonel Chukwuemeka Odumegwu Ojukwu flees Biafra into exile, leaving his deputy, Philip Effiong, to surrender to the Nig
Colonel Chukwuemeka Odumegwu Ojukwu flees Biafra into exile, leaving his deputy, Philip Effiong, to surrender to the Nigerian Army, effectively ending the Nigerian Civil War
Movie rating system modifies "M" rating to "PG"
Movie rating system modifies "M" rating to "PG"
Biographical film "Patton" directed by Franklin J. Schaffner and starring George C. Scott premieres in New York (Academy
Biographical film "Patton" directed by Franklin J. Schaffner and starring George C. Scott premieres in New York (Academy Awards Best Picture 1971)
South Africa cricket team completes a 4-0 series drubbing of Australia in South Africa in the country's last official in
South Africa cricket team completes a 4-0 series drubbing of Australia in South Africa in the country's last official international cricket Test for 22 years
Events After
International Book Year begins
International Book Year begins
LA Lakers defeat the Atlanta Hawks 134-90 for their 33rd straight win, the longest winning streak in major professional
LA Lakers defeat the Atlanta Hawks 134-90 for their 33rd straight win, the longest winning streak in major professional sports
Bernice Gera wins an anti-discrimination case against the National Baseball Congress, filed on March 15, 1971, allowing
Bernice Gera wins an anti-discrimination case against the National Baseball Congress, filed on March 15, 1971, allowing her to umpire
Bloody Sunday: 27 unarmed civilians are shot (14 are killed) by the British Army during a civil rights march in Derry, N
Bloody Sunday: 27 unarmed civilians are shot (14 are killed) by the British Army during a civil rights march in Derry, Northern Ireland; the highest death toll from a single shooting incident during 'The Troubles'
Bob Douglas is the first African American elected to the Basketball Hall of Fame
The Naismith Memorial Basketball Hall of Fame, located in Springfield, Massachusetts, honors players who have shown exceptional skill at basketball, all-time great coaches, referees, and other major…
More from the 1970s
death
Erroll Garner dies
Erroll Garner dies
birth
Chai Jing is born
Chai Jing, Chinese journalist and environmental activist, known for chinese journalist and environmental activist, was born on 1976-01-01. Chai Jing is a Chinese journalist.
Charles "Chub" Feeney becomes the President of Major League Baseball's National League
Charles Stoneham "Chub" Feeney (August 31, 1921 – January 10, 1994) was an Irish-American front office executive in Major League Baseball.
Cigarette advertisements are banned from broadcast media in the US
Cigarette advertisements are banned from broadcast media in the US
Frequently Asked Questions
- What happened on September 22, 1971?
- 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 OPEC directs members to negotiate price increases to offset the devaluation o... 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.