OPEC Explained: Part 1 - Origins and Strategic Purpose

The Organization of Petroleum Exporting Countries (OPEC) was established in 1960 to give oil-producing nations more control over their resources and influence global oil prices. Initially formed by five countries—Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela — OPEC has grown to include 12 member countries, with 10 additional nations cooperating under the OPEC+ alliance. The organization has played a critical role in stabilizing oil prices and shaping the global energy market. Skip Montreux and Dez Morgan kick off a two-part series on OPEC, starting with an in-depth discussion on the organization’s founding in 1960. They examine the reasons behind OPEC’s creation, its structure, and how it operates. D2B 332 provides a detailed analysis of OPEC’s founding and its critical role in the global energy market. The discussion highlights how OPEC has influenced oil production and pricing, and the importance of the organization in maintaining global energy stability. Do you like what you hear? Become a D2B Member today for to access to member-only episodes, our --NEW!!! -- INTERACTIVE AUDIO SCRIPTS, PDF Audio Script Library, Bonus Vocabulary episodes, and D2B Member-only episodes. Visit d2benglish.com/membership for more information.