Timeline

By eternalprince1

  • OPEC is formed

    OPEC is formed
  • Period: to

    Timeline

  • Qatar joins OPEC

    Qatar joins OPEC

  • Libya and Indonesia join OPEC

  • Austria becomes OPEC headquarter, Agreement is signed

    Austria becomes OPEC headquarter, Agreement is signed

  • OPEC looks for practical oil production system

  • OPEC demands for higher payments for oil

    OPEC demands for higher payments for oil

  • Saudi Arabia threatens to cut off all supliest to U.S. if aid to Israel in Yop Kippur War continues

  • Saudi Arabia announces halt in oil exports to U.S.

  • More Arab countries announce a total embargo of oil to U.S

    More Arab countries announce a total embargo of oil to U.S

  • Terrorist kidnaps OPEC ministers and demands a $1 Billion ransom

    Terrorist kidnaps OPEC ministers and demands a $1 Billion ransom

  • OPEC begins to decline

  • Ecuador withdraws from OPEC

    Ecuador withdraws from OPEC

  • OPEC’s oil output hit a 26-year peak and began declining.