Search results
Results From The WOW.Com Content Network
Logo for JODI, in which OPEC is a founding member. In April 2001, OPEC collaborated with five other international organizations (APEC, Eurostat, IEA, OLADE , UNSD) to improve the availability and reliability of oil data.
OPEC member countries were not adhering strictly to their assigned quotas, and once again oil prices plummeted. [ citation needed ] [ 5 ] Pérez Alfonzo died in Washington, D.C. , at the Georgetown University Hospital on 3 September 1979, at age 75, having succumbed to pancreatic cancer .
List of OPEC secretaries general No. Name Country Tenure 1: Fuad Rouhani [A] Iran [B] 21 Jan 1961 – 30 Apr 1964 2: Abdul Rahman al-Bazzaz [A] Iraq [B] 1 May 1964 – 30 Apr 1965 3: Ashraf T. Lutfi Kuwait [B] 1 May 1965 – 31 Dec 1966 4: Mohammad Saleh Joukhdar Saudi Arabia [B] 1 Jan 1967 – 31 Dec 1967 5: Francisco R. Parra Venezuela [B]
The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization founded in 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. It has since expanded to 12 ...
In 1973, Arab members of the Organization of Petroleum Exporting Countries brought the U.S. economy to its knees. Since Saudi Arabia and other Arab OPEC members imposed their famous oil embargo as ...
Iran, a founding member of the Organization of the Petroleum Exporting Countries (OPEC), is responsible for more than 3 million barrels of crude oil production per day.
In 1960, OPEC was established, with Saudi Arabia as one of its founding members. [32] During the 1973 oil crisis, the price of oil rose from $3 per barrel to nearly $12, and the Saudi economy started growing rapidly, [33] with GDP increasing from approximately $15 billion in 1973 to almost $184 billion by 1981. [34]
The main goal of the OPEC member countries was to work together in order to secure and stabilize international oil prices to ensure their interests as oil producing nations. This was managed largely via maintaining export quotas that helped prevent the overproduction of oil on an international scale.