POST COLD WAR WORLD
GLOBAL ISSUES SINCE 1991
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Esso Research Centre
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Institutions of Petroleum in the Middle East
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Organization of Petroleum Exporting Countries (OPEC)
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Professional Petroleum Data Management Association
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Detailed explanation-1: -OPEC was established at a conference held in Baghdad September 10–14, 1960, and was formally constituted in January 1961 by five countries: Saudi Arabia, Iran, Iraq, Kuwait, and Venezuela.
Detailed explanation-2: -The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
Detailed explanation-3: -OPEC. The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization formed in September, 1960. Original members included Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
Detailed explanation-4: -In the 1960s and 1970s, OPEC successfully restructured the global oil production system so that decision-making authority and the vast majority of profits is in the hands of oil-producing countries.