The research project doesn’t reflect an active debate inside the government over whether to leave the Organization of the Petroleum Exporting Countries in the near term, according to people familiar with the matter. OPEC’s Ups and Downs Since its creation 58 years ago, the Organization of the Petroleum Exporting Countries has rebounded from a number of existential crises. 1960 1970 1980 1990 2000 2020 September 1960 Saudi Arabia, Iran, Iraq, Kuwait and Venezuela create OPEC in Baghdad with an eye toward countering cheap oil prices, which had been fixed by Western oil companies. The organization has since added 10 members. Above, a worker at a Saudi well in 1960. Saudi Arabia, Iran, Iraq, Kuwait and Venezuela create OPEC in Baghdad with an eye toward countering cheap oil prices, which had been fixed by Western oil companies. The organization has since added 10 members. Above, a worker at a Saudi […]