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The Organization of the Petroleum Exporting Countries (OPEC) was founded in 1960 at:
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Answer: Option C — Baghdad, Iraq
Detailed Solution
The Organization of the Petroleum Exporting Countries (OPEC) was founded at the Baghdad Conference held from 10 to 14 September 1960 in Baghdad, Iraq.
About the founding of OPEC:
- It was founded by five countries: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
- Its main architects were Juan Pablo Perez Alfonzo of Venezuela and Abdullah Tariki of Saudi Arabia.
- It was created to coordinate the petroleum policies of its members and to secure fair and stable prices for oil producers, at a time when a few Western oil companies ("Seven Sisters") controlled the world oil market.
About OPEC:
Its headquarters was first in Geneva, Switzerland (1961-1965), and has been in Vienna, Austria, since 1 September 1965. Austria is not a member.
It has 12 members: Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela.
Qatar left in 2019, Ecuador in 2020 and Angola in 2024. Indonesia left in 2016.
Saudi Arabia is its largest producer.
Its members hold a large share (about 80 per cent) of the world's proven crude oil reserves. Venezuela has the largest proven reserves.
It publishes the "World Oil Outlook" and the "Monthly Oil Market Report".
Important events:
- The 1973 oil crisis: Arab members of OPEC (through OAPEC) imposed an oil embargo on countries supporting Israel in the Yom Kippur War, and oil prices quadrupled.
- "OPEC+" was formed in 2016 when OPEC joined with ten other oil-producing countries, led by Russia, to coordinate production.
India and OPEC:
- India is one of the largest importers of crude oil and depends heavily on OPEC countries, especially Iraq and Saudi Arabia, although Russia became a major supplier after 2022.
- India holds an annual "OPEC-India Energy Dialogue" since 2015.
Other energy organisations:
- International Energy Agency (IEA): Paris, 1974; India became an associate member in 2017.
- International Energy Forum (IEF): Riyadh.
Why not the other options?
- ✗Vienna is OPEC's current headquarters, not its place of founding.
- ✗Riyadh hosts the International Energy Forum.
- ✗Tehran is the capital of Iran, a founding member.
Quick tip
Remember: OPEC = founded at Baghdad, September 1960 (Iran, Iraq, Kuwait, Saudi Arabia, Venezuela); HQ Vienna since 1965; OPEC+ = 2016 (with Russia); IEA = Paris (1974).
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World GK: Countries, Capitals & Currencies — Preparation
This question tests your understanding of World GK: Countries, Capitals & Currencies, a key topic in the General Knowledge section. The detailed solution above uses a step-by-step approach to show the reasoning, and where available, a shortcut that helps you solve similar questions in under 90 seconds during the actual exam.
This topic covers world GK: countries with their capitals, currencies and parliaments, national symbols, famous landmarks, the longest, largest and highest features of the world, and international boundary lines such as the Radcliffe, McMahon and Durand Lines. The most common questions match a country with its capital or currency, or a parliament with its name (such as the Knesset of Israel or the Diet of Japan). Revise countries continent by continent, giving extra attention to India's neighbours. Questions on boundary lines usually ask which two countries a line separates. Practise the world GK questions below, written in the style of the general awareness sections of exams such as SSC, banking, railways, CUET GAT, MAH CET and CLAT. Each question comes with a detailed explanation that adds related facts, so every question helps you revise more than one point.