A chronological list of the important events for
the topic "OPEC"
Timeline
1960 September 14 — IranIran
Throughout history, Iran has been of great geostrategic [i] importance because of its centr ...
, IraqIraq The Republic of Iraq, is a Middle East [i]ern country [i] in southwestern Asia [i] encomp ...
, KuwaitKuwait The State of Kuwait is a small constitutional monarchy [i] on the coast of the Persian Gulf [i], enclos ...
, Saudi ArabiaSaudi Arabia The Kingdom of Saudi Arabia is the largest country on the Arabian Peninsula [i]. ...
and VenezuelaVenezuela Venezuela is a country on the northern tropical [i] Caribbean [i] coast of South America [i] ...
form OPEC.
1971 Representatives of 23 western oil companies begin negotiations with OPEC in TehranTehran Tehran , population 7,160,094 , and a land area of 658 square kilometers, is the capital city of [[Iran]...
to stabilize oilPetroleum Petroleum or crude oil is a black, dark brown or greenish liquid [i] found in porous rock formati ...
prices. February 14 they sign a treaty with six Persian GulfPersian Gulf [i] region, is an extension of the [[Gulf of Oman]...
countries.
1973 OPEC doubles the price of crude oil.
1974 Oil embargo crisis: Most OPEC nations end a 5-month oilPetroleum Petroleum or crude oil is a black, dark brown or greenish liquid [i] found in porous rock formati ...
embargo against the United StatesUnited States The United States of America, also known as the United States, the U.S., the U.S.A., a...
, EuropeEurope Europe is one of the seven traditional continent [i]s of the Earth [i]. ...
and JapanJapan is an island country [i] in East Asia [i]. ...
.
1975 OPEC agrees to raise crude oil prices by 10%.
1975 Left-wing terrorists, including Carlos (the Jackal), kidnap delegates of an OPEC conference in ViennaVienna Vienna is the capital [i] of Austria [i], and also one of the nine States of Austria [i]. ...
. They kill three hostages, extort $5 million ransom and escape into the Middle EastMiddle East The Middle East is a subcontinent [i] for the historical [i] and cultural [i] ...
.
1980 During a summit on the island of BaliBali Bali is an Indonesia [i]n island [i] located at , one of the Lesser Sunda Islands [i], and one of the co...
, OPEC decides to raise the price of petroleumPetroleum Petroleum or crude oil is a black, dark brown or greenish liquid [i] found in porous rock formati ...
Timeline
