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I
n response to this, five of the largest
oil-producing countries held another
conference on September 10–14,
1960. This time the venue chosen
was Baghdad, the capital of Iraq. The
countries that attended the conference
were: Iran, Iraq, Kuwait, Saudi
Arabia and Venezuela. These are the
Organization’s Founder Members. That
was when OPEC was born.
Each country sent a delegate:
Fuad Rouhani from Iran, Dr. Tala’at al-
Shaibani from Iraq, Ahmed Sayed Omar
from Kuwait, Abdullah Al-Tariki from
Saudi Arabia and Dr. Juan Pablo Pérez
Alfonzo from Venezuela.
At this Baghdad Conference, the
delegates discussed the role of the IOCs
and changes in crude oil prices. The oil-
producing countries saw an urgent need
to create an organization for the defence
of their most important non-renewable
natural resource, oil.
Thus, OPEC was established as
a permanent intergovernmental
organization. Its first headquarters were
located in Geneva, Switzerland.
In April 1965, OPEC decided to move
the Secretariat to Vienna, the capital
of Austria. A Host Agreement was
signed with the Austrian government
and OPEC moved to Vienna on
September 1, 1965.
After OPEC was created, the
governments of OPEC’s Member
Countries began to have more control
over their own natural resources. And in
the years that followed, OPEC became
increasingly aware of the important role
it could play in the global oil markets.
Chapter 4 . About OPEC
The birth of OPEC
THE OPEC LOGO
The OPEC logo is the recognizable
symbol of the Organization. It is
the result of an international design
competition held in 1969. An Austrian
designer, Gertrude Svoboda, won the
competition with her design, which
combined the different letters of the
Organization’s name in a rounded design
This logo is still in use by OPEC.
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