The organization was created to coordinate the petroleum policies of the major oil-producing countries and to protect the interests of the producer states. In the following decades, OPEC became one of the important actors in the international energy economy through its influence on prices and production levels in world oil markets.
Source: Wikipedia
Frequently asked questions
- What was OPEC Established?
- OPEC (the Organization of the Petroleum Exporting Countries) was founded at a conference held in Baghdad in 1960.
- When did OPEC Established happen?
- 1960 CE
- Where did OPEC Established take place?
- Bağdat