1970s turning point: producer leverage rises

Nick details rising demand, majority control by producers, and OPEC membership growth into the 1970s.

Play episode from 08:45

chevron_right

Transcript

chevron_right

Transcript

Episode notes

In 1960, a handful of oil-producing nations made a decision that would reshape the global economy.

They formed a cartel to control the world’s most vital resource, challenging powerful corporations and altering the balance of global power.

Over the decades, that organization would trigger crises, fuel economic booms, and influence energy prices across every corner of the planet.

Learn more about the creation, rise, and eventual decline of OPEC, the Organization of the Petroleum Exporting Countries, on this episode of Everything Everywhere Daily.

In 1960, a handful of oil-producing nations made a decision that would reshape the global economy.

They formed a cartel to control the world’s most vital resource, challenging powerful corporations and altering the balance of global power.

Over the decades, that organization would trigger crises, fuel economic booms, and influence energy prices across every corner of the planet.

Learn more about the creation, rise, and eventual decline of OPEC, the Organization of the Petroleum Exporting Countries, on this episode of Everything Everywhere Daily.

Sponsors