When did Saudi Arabia help establish the Organization of Petroleum Exporting Countries (OPEC) in order to influence oil prices?

Question

Quizplus · Accepted Answer

Saudi Arabia played a key role in the founding of OPEC in 1960, alongside Iraq, Iran, Kuwait, and Venezuela. The organization was established to coordinate and unify the petroleum policies of member countries, with the goal of stabilizing oil prices on the global market.

When Did Saudi Arabia Help Establish the Organization of Petroleum