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 discusses raising prices to offset decline of U.S. dollar value
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
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…
Events After
Ernie DiGregorio of Buffalo hands out 25 assists in the Braves' 120-119 win over Portland, establishing an NBA single-ga
Ernie DiGregorio of Buffalo hands out 25 assists in the Braves' 120-119 win over Portland, establishing an NBA single-game record for assists by a rookie
Lee MacPhail takes over as AL president, succeeding Joe Cronin
Lee MacPhail takes over as AL president, succeeding Joe Cronin
Science fiction TV series "The Six Million Dollar Man" premieres on ABC, starring Lee Majors
The Six Million Dollar Man is an American science fiction and action television series, running from 1973 to 1978, about a former astronaut, USAF Colonel Steve Austin, portrayed by Lee Majors.
Barbra Streisand's first #1 hit, "The Way We Were"
The Way We Were is the fifteenth studio album recorded by American singer Barbra Streisand.
Mel Brooks' western spoof film "Blazing Saddles," starring Cleavon Little and Gene Wilder, premieres at the Pickwick Dri
Mel Brooks' western spoof film "Blazing Saddles," starring Cleavon Little and Gene Wilder, premieres at the Pickwick Drive-In in Burbank, California; patrons watch from horseback rather than cars
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 March 16, 1973?
- 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 discusses raising prices to offset decline of U.S. dollar value 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.