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Between 10-14 September 1960, OPEC\u2019s five Founding Fathers \u2013 Dr Fuad Rouhani of Iran, Dr Tala\u2019at al-Shaibani of Iraq, Ahmed Sayed Omar of Kuwait, Abdullah Al-Tariki of Saudi Arabia and Dr Juan Pablo Perez Alfonzo of Venezuela \u2013 descended on the Al-Shaab Hall in Baghdad to establish the Organization. OPEC\u2019s creation marked the beginning of a new chapter in the oil industry.<\/p>\n
OPEC\u2019s five Founder Members joined efforts to safeguard their legitimate national interests. They called for cooperation, dialogue and mutual respect among all, as well as the need to address challenges in a collective manner and use oil to support national growth and development. The most vivid demonstration of that is the ongoing \u2018Declaration of Cooperation (DoC)\u2019 process, whereby OPEC works with 10 non-OPEC producing countries towards oil market stability.<\/p>\n
The proactive and responsible decisions undertaken by DoC participants following the outbreak of the COVID-19 pandemic and the severe contraction in oil demand serve as testament to the firm commitment to these principles.<\/p>\n
In reflecting on this occasion, HE Haitham Al Ghais, OPEC Secretary General, said: \u201cThis \u2018OPEC Day\u2019<\/em> offers us an opportunity to reflect on our Organization\u2019s history, celebrate our heritage and renew our commitment to the noble ideals upon which OPEC was founded. Honouring our past can serve as a guide and inspiration for achieving a bright and successful future.\u201d<\/p>\n \u201cOn this occasion, I would like to send my best wishes and warmest congratulations to the entire OPEC Family; our Member Countries and staff at the OPEC Secretariat. I am confident that the Organization\u2019s best days lie ahead of it,\u201d the Secretary General added.<\/p>\n Cooperation and dialogue have been instrumental in OPEC\u2019s work for more than six decades. They support its efforts in ensuring oil market stability in the interest of producers, consumers, investors and the global economy at large. These endeavours are also vital because of the wider societal benefits they provide.<\/p>\n<\/p><\/div>\n