Saturday, January 12, 2008 6:00:25 PM
OPEC is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The five Founding Members were later joined by nine other Members: Qatar (1961); Indonesia (1962); Socialist Peoples Libyan Arab Jamahiriya (1962); United Arab Emirates (1967); Algeria (1969); Nigeria (1971); Ecuador (1973–1992); Gabon (1975–1994) and Angola (2007).
Opec: The oil cartel in profile:
http://news.bbc.co.uk/2/hi/business/3768971.stm
Oil markets explained:
http://news.bbc.co.uk/2/hi/business/904748.stm
What is driving oil prices so high?
http://news.bbc.co.uk/2/hi/business/7048600.stm
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