Since 1965, where has the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) been located?
OPEC OPEC The Organisation of the Petroleum Exporting Countries (OPEC, ) is an intergovernmental organisation of nations, founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela), and headquartered since 1965 in Vienna, Austria. the 15 countries accounted for an estimated 44 percent of global oil production and 81.5 percent of the world's "proven" oil reserves, giving OPEC a major influence on global oil prices that were previously determined by the so called "Seven Sisters” grouping of multinational oil companies. The stated mission of the organisation is to "coordinate and unify the petroleum policies
Organization of Petroleum Importing Countries Organization of Petroleum Importing Countries The Organization of Petroleum Importing Countries was a cartel (or a proposal for a cartel) of countries that primarily consume petroleum, to counter the influence of OPEC, the Organization of Petroleum Exporting Countries. It was reported in the early 1980s that Costa Rica had led the establishment of a group of countries under this name. There were also calls in the early 21st century for an organization fulfilling such a role. It was argued that it was in the interests of developing countries and that it would also act to the benefit of developed countries.