The Rise and Fall of OPEC

Everything Everywhere Daily: History, Science, Geography & More

Gary Arndt

History, Education

4.7 • 2.3K Ratings

🗓️ 5 May 2026

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 Newspapers.com Honor the past by uncovering its stories at Newspapers.com Promo Code EVERYTHINGEVERWHERE Samsara Don’t wait for the next accident to take action. Head to Samsara.com/EVERYTHING ButcherBox Get your choice between chicken breast or top sirloin for a year OR ground beef for life, PLUS $20 off when you go to ButcherBox.com/everything Quince Go to quince.com/daily for 365-day returns, plus free shipping on your order! Mint Mobile Save 50% on Unlimited premium wireless plans starting at $15/month at MintMobile.com/EED Audible Listen to Project Hail Mary Audible.com/hailmary Fast Growing Trees Get 20% off your first purchase when using the code DAILY at checkout at fastgrowingtrees.com/daily Subscribe to the podcast! https://everything-everywhere.com/everything-everywhere-daily-podcast/ -------------------------------- Executive Producer: Charles Daniel Associate Producers: Austin Oetken & Cameron Kieffer Become a supporter on Patreon: https://www.patreon.com/everythingeverywhere Discord Server: https://discord.gg/Ds7Rx7jvPJ Instagram: https://www.instagram.com/everythingeverywhere/ Facebook Group: https://www.facebook.com/groups/everythingeverywheredaily Twitter: https://twitter.com/everywheretrip Website: https://everything-everywhere.com/ Disce aliquid novi cotidie Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	In 1960, a handful of oil-producing nations made a decision that would reshape the global economy.
0:06.4	They formed a cartel to control the world's most vital resource, challenging powerful corporations
0:11.6	and altering the balance of global power. Over the decades, that organization would trigger crises,
0:18.2	fuel economic booms, and influence energy prices across every corner of the planet.
0:23.4	Learn more about the creation, rise, and eventual decline of OPEC, the Organization of Petroleum
0:29.8	Exporting Countries on this episode of Everything Everywhere Daily. daily.
0:50.6	This episode is brought to you by Expedia and Visit Scotland.
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1:12.0	Start planning your own Scottish holiday.
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1:19.0	Some follow the noise.
1:21.4	Bloomberg follows the money.
1:25.2	Because behind every headline is a bottom line.
1:29.3	Whether it's the funds-fuelling AI or crypto's's trillion dollar swings, there's a money side to every story. And when you see the money side, you
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1:51.0	The origins of OPEC can be traced back to the ends of the Second World War.
1:56.5	The world found itself in a situation in which the most important resources had shifted from iron and coal to oil.
1:59.2	This wasn't an overnight change, but by the end of the 1940s,
2:02.7	planes, trains, and automobiles were all increasingly dependent on petroleum. At the time,
	...

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