OPEC Secretary General Haitham al-Ghais speaks at the Energy Asia conference in Kuala Lumpur in 2025
Letter from Vienna: OPEC at 65
Following its founding in September 1960, OPEC has become a key player in the global energy sector and a vital source of market stability
Sixty-five years ago, visionary leaders from five developing nations—namely Abdullah al-Tariki of Saudi Arabia, Juan Pablo Perez Alfonzo of Venezuela, Fuad Rouhani of Iran, Tala’at al-Shaibani of Iraq, and Ahmed Sayed Omar of Kuwait—founded OPEC at the historic Baghdad Conference from 10–14 September 1960. With the benefit of hindsight, some might view the foundation of OPEC as inevitable, but that was not the case. The organisation’s founder members each arrived in Baghdad with different objectives, expectations and priorities, yet they all recognised that a core set of common interests outweighed any differences. Back then, the economies of these developing countries were centred around oi
Also in this section
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
