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jan 1, 1960 - OPEC was formed

Description:

Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela formed the OPEC, the notorious oil cartel.
The members with the most power are Kuwait, Qatar, Saudi Arabia, and United Arab Emirates (which are the 4 biggest oil producers, almost equaling 50% of total production)

Added to timeline:

Economic History

ByEdoardo Raoul Falco
29 Aug 2021
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Date:

jan 1, 1960
Now
~ 65 years ago
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