Organization of Petroleum Exporting Countries (OPEC) Meets for the First Time
At a glance:
- Series: Great Events from History II: Business and Commerce Series
- Categories: Diplomacy, International Relations, Foreign Affairs, Economics, Natural Resources
- Subcategories: Business, Organizations, Agencies, Institutions, Treaties, Agreements, Negotiations, Energy, Fuel, Power Sources
- Curriculum: Middle Eastern History
- Geographical Location: Middle East, Baghdad
- Date: September 14, 1960
Article abstract: In response to Standard Oil of New Jersey’s decision to lower the price paid for oil, representatives of petroleum-exporting states met to find means of securing greater control over the international oil market.
Summary of Event
The Organization of Petroleum Exporting Countries (OPEC) opened its unpretentious offices in Vienna, Austria, in 1960. That city was not OPEC’s first choice. The OPEC states would have preferred offices in Geneva, Switzerland, home of the United Nations and a variety of prestigious international...
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