From the Archives: Baghdad and Beirut
Our look into Petroleum Economist's archives continues with October 1960 coverage of another key moment in the history of oil and gas: the founding of OPEC
The Arab League’s second oil conference being held at Beirut this month will be dominated by the recent agreement at Baghdad between leading oil exporting countries to set up OPEC with a view to consulting together on important matters affecting their oil interests and to bringing about stability in crude oil prices. Some of the considerations which arise are outlined below. As well as providing a forum for discussing many aspects of the international oil industry, the wide-ranging talks at Beirut should bring much enlightenment about this significant new development. The evolving relationships between the international oil companies and the governments of the main countries in which they pr

Also in this section
11 February 2025
Improving compliance among the group and wider group is offset by production increases in outliers Libya, Venezuela and Iran
10 February 2025
The country wants to kickstart its upstream but first needs to persuade investors to foot the bill
10 February 2025
The February 2025 issue of Petroleum Economist is out now!
7 February 2025
The history of tin production and prices offers a preview of the future oil market. If correct, $35/bl could become the new normal for crude for several years without further OPEC+ intervention