answersLogoWhite

0

OPEC was formed in 1960 to co-ordinate and unify petroleum policies among Member Countries, in an effort to secure fair and stable prices for petroleum producers.

User Avatar

Wiki User

10y ago

What else can I help you with?

Related Questions

When was OPEC set up?

OPEC was formed between September 10-14 1960, and was in effect January 1961.


What is the organization that Saudi Arabia and other oil producing nations formed in 1960?

OPEC - The Organization of the Petroleum Exporting Countries


When did Venezuela become part of OPEC?

In 1960


Why did the oil exporting countries form OPEC and what effects did the subsequent rise in oil prices in the 1970s have on the Third World?

the oil exporting countries of the middle east formed OPEC in 1960 because of the Suez crisis and the oil prices rose as production decreased


In what year did Saudi Arabia join OPEC?

Saudi Arabia joined opec in 1960 it was one of the founding members


What is the name of the group of oil producing countries mainly Arab formed in 1960 to control international oil prices?

The answer you are looking for is most likely OPEC (Organization of Petroleum Exporting Countries), but there are several non-Middle Eastern members of OPEC like Venezuela and Nigeria.


Will Iraq join OPEC with all the oil it has and could this fact cause the currency to go up?

OPEC was founded in Baghdad in 1960. Iraq is already an OPEC country. www.opec.org


What group was formed to regulate oil prices?

OPEC


What group formed to regulate oil prices?

OPEC


Iraq joined OPEC a decade after it was founded in Cairo in 1960?

false


What nation initiated the meeting that formed OPEC?

Saudi Arabia


What year was OPEC founded?

Organization of the Petroleum Exporting Countries (OPEC) Organization: Founded at Baghdad Conference, September 10-14, 1960. By. Univonline.

Trending Questions
What are governments monetary policy options for ending severe demand pull inflation? What is high street competition? How do you calculate the opportunity cost? What argument did mercantilists make as to why cotton fabrics should be stopped? Nootka Indian government? Where can you find statistics on the real estate market? What other suppliers might face a downward-sloping demand curve and what implications does this have for their advertising budget as compared to suppliers with horizontal demand curves? How did the different economic systems cause tensions between the US an the Soviet Union? What is the definition of an unintended benefit? Melissa buys an iPod for 120 and gets a Consumer Surplus of 80 If she had bought the iPod on sale for 90 what would her consumer surplus have been? What is the purpose of Federal Land Banks? What does experience is one thing you can't get for nothing mean? For each decision you made about how to spend your time .What did you have to give up? Why did many Southerners object to ending the slave trade? How much did things cost in 1920s compared to today? What were the major steps in the states progression from an agricultural economy to the service economy? Why is Perfect Competition as a model better for society than unregulated Monopoly? What did David Ricardo define economics has? What is an economic system in which government makes all economic decisions about how goods and services and produced and distributed is called? What is a large building in which machinery is used to manufacture goods?