14h 51min, sep 10, 1960 y - OPEC

Description:

Organization of the Petroleum Exporting Countries is an intergovernmental organization of 14 nations as of May 2017, founded in 1960 in Baghdad by the first five members, and headquartered since 1965 in Vienna. According to finance.yahoo.com It is important because it unifies and coordinates members' petroleum policies and ensure the stability of oil markets in order to secure an efficient, economic, and regular supply of petroleum to customers as well as a steady income to producers with a fair return.

Added to timeline:

Date: