This week in history

September 10, 1960, the Organization of the Petroleum Countries (OPEC) was formed as a permanent intergovernmental organization. The four-day meeting in Baghdad, Iraq, involved the five founding members, Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Over the years several other nations joined OPEC. For the first five years, OPEC had its headquarters in Geneva, Switzerland. In 1965, it moved to V...