by jordan salazar and eric magaña
OPEC was created at the Baghdad Conference in September 1960 ,this an intergovernmental organization created by different countries between them you can see Iraq, Iran, Saudi Arabia and Venezuela.
The OPEC was headquartered in Geneva, Switzerland before moving to Vienna, Austria on September 1965.
Intergovernmental: Relating to, or conducted between two or more governments.
Headquartered: Provide ( an organization) with headquarters at a specified location.
Organization: This is a social entity that has a collective goal and is linked to an external environment.
this is the flag of the Organization of the Petroleum Exporting Countries.
1st OPEC Conference
This is where all of the member of the OPEC created this organization in Baghdad, September 10–14, 1960 this was the first conference.
“a dramatic collapse”
Stung by what it called “a dramatic collapse” in crude prices, the OPEC cartel said on Friday that it would reduce output by a steeper-than-expected 1.5 million barrels a day.