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OPECOPEC—the Organization of the Petroleum Exporting Countries—was founded in Iraq in 1960 to coordinate oil policy among major exporters. Initially a reaction to Western dominance of global oil markets, it evolved into a powerful bloc capable of reshaping global energy prices, geopolitics, and development. OPEC works by setting production quotas for each member country. By coordinating supply cuts or increases, the group can tighten or loosen global oil supply, pushing prices up or down. Today, OPEC has 12 member countries spanning the Middle East, Africa, and South America—Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates, and Venezuela—and works closely with non-member oil-producing allies in the wider “OPEC+” group.Explore OPEC

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OPEC can roll out production cuts among its members to control oil’s global supply and priceThe Organization of the Petroleum Exporting Countries (OPEC) was created to coordinate and unify petroleum policies to secure fair and stable prices. During the pandemic, for instance, the organization pushed through production cuts in an attempt to stabilize prices. World Economic Forum OPEC often intervenes to influence the price of oilThis guide explains how investing in oil works with in-depth explanations of each of the forces that control oil’s price. Oil is unique as a commodity in part because of OPEC’s role in regulating its price. Investopedia In 2016 OPEC and 10 major producers—including Russia—launched OPEC+OPEC+ emerged in 2016 when 10 additional producers, including Russia, joined to stabilize markets amid U.S. shale growth. In 2022, OPEC alone supplied 38 % of global crude oil, but combined with OPEC+, output reached nearly 59 % of world production—significantly amplifying its market power. US Energy Information Administration OPEC’s 1973 embargo sparked the first global energy shockIn October 1973, Arab OAPEC countries stopped or significantly reduced oil exports to nations backing Israel during the Yom Kippur War. Crude prices nearly quadrupled, sparking global shortages, economic recession, rationing, and major energy policy reforms. Investopedia OPEC has grown from five to 12 members since 1960OPEC’s official members page features profiles for all 12 current member countries—Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, UAE, and Venezuela—detailing their joining history, national data, and links to individual country pages. OPEC Explore OPEC’s official webpageOPEC’s official website offers a comprehensive hub for its core work—featuring press releases, monthly and statistical reports, digital publications like the World Oil Outlook and Annual Statistical Bulletin, and other research center materials. Organization of the Petroleum Exporting Countries The 1973 oil embargo by OPEC inspired advances in alternative energy technologyThe shortages imposed by the Organization of Petroleum Exporting Countries (OPEC) created a global energy crisis and economic instability after the Arab-Israeli War. This led to investments in green technologies and improvements in automobile fuel efficiency and manufacturing. Smithsonian Institute The history of Anthropic began with a break from OpenAI over safety concernsFounded by former OpenAI employees, Anthropic envisioned guardrails in its AI products from the outset to minimize the potential risk for businesses considering using its Claude products. The strategy has contributed to a tenfold increase in revenue over three consecutive years, and its business customer base has grown from under 1,000 to over 300,000 in two years. CNBC The US exported more crude oil and petroleum products than it imported in 2025In fact, the US has been exporting more oil and petroleum products than it imports since August 2021. Petroleum and petroleum product exports totaled about 10.7 million barrels per day, whereas imports totaled about 7.9 million barrels per day. USAFacts Coca-Cola operates under an asset-light, divided structureThe "company" manages the brand itself, as well as its secret formula and syrup production. The capital-intensive "system" of independent bottlers, on the other hand, handles manufacturing and distribution. Acquired One critic argues opera needs a new business planChristos Makridis, a labor economist at Arizona State University, argues that the public has an appetite for the art form, but that the industry's business model is dated, relying too heavily on philanthropy and aging season ticket holders rather than embracing innovation. The Conversation Parton opened the Dollywood theme park in 1986The theme park, situated in Pigeon Forge, Tennessee, offers roller coasters, games, and other family-friendly activities alongside Parton-themed exhibits, including a replica of her childhood home. American Songwriter Wikipedia openly displays edit history and editorial disputes to assess trustworthinessUnlike a journal article, which may be reviewed by up to three people before publication, popular Wikipedia pages may be reviewed thousands of times by editors, potentially enhancing their reliability. Less reviewed articles still require reliable third-party sources and remain subject to verification by bots and administrators who can undo edits. The Conversation Spare capacity is the amount of oil production that can be brought online within 30 days and sustained for at least 90 daysSpecifically, a country’s “spare capacity” signifies the difference between its maximum sustainable oil production and its current output. OPEC member countries hold nearly all of the world’s spare oil production capacity. Historically speaking, Saudi Arabia has been the country with the largest spare capacity. US Energy Information Administration In 2013, an astronaut's helmet began filling with water during a spacewalkA leak in the cooling system of Luca Parmitano's spacesuit caused water to obscure his vision and silence his radio as the International Space Station entered Earth's shadow, forcing him to feel his way back to the airlock in darkness. NOVA PBS Official Pop music is often influenced by opera, but rarely embraces the full formAn example is pop singer Rosalía's album "Lux," where she borrows from opera, particularly in her more theatrical approach to singing, without fully embracing the form's theatrics and storytelling. The New York Times Soap operas are significantly less popular now than in past decadesIn the genre’s heyday, soap operas commanded large audiences. But recent decades have found the soap opera in steep decline. One data journalist suggests it's an issue of classification: Shows similar to soap opera, like “Grey’s Anatomy,” remain popular, though they’re not considered soap operas because they resemble “prestige television.” Stat Significant Soap operas were especially popular in the ‘70s and ‘80sShows like “As the World Turns” and “Love of Life” attracted tens of millions of viewers and had many high-profile fans, including Andy Warhol, Sammy Davis Jr. and Supreme Court Justice Thurgood Marshall. This Time cover story from 1976 explores the pop culture phenomenon. TIME Soap operas are long-form, serialized melodramasThe genre was historically aimed at housewives, and its storylines often involve romantic entanglements and family dynamics that transpired over many years. Media scholar Robert J. Thompson called the soap opera “arguably the most unique contribution that broadcasting has made to the art of storytelling.” Science Direct Soap operas earned their name thanks to the sponsorships of soap brandsMany early 20th-century radio programs for women were sponsored by brands that introduced each new episode. Because these dramas were aimed at women, many of their sponsors were for household products, like soap. The association led some to refer to the shows as "soap operas," a title that stuck. The Classic Archives Old Time Radio Channel The Erie Canal was opened Oct. 25, 1825, with a group of boats from Buffalo to NYCThe unlikely engineering project connecting the Midwest to the Atlantic saw a ceremonious opening as Governor Dewitt Clinton rode with a flotilla of boats from Buffalo on Lake Erie to New York City. Mystic Stamp Learning Center Social Security’s financial operations are handled through two federal trust fundsOne is called the Old-Age and Survivors Insurance trust fund, and the other is called the Disability Insurance trust fund. Combined, these two trust funds were valued at roughly $2.7T as of the end of 2024. Vox How life ranks in South Korea As South Korea developed over the last half of the 20th century, quality of life soared. The country now outperforms the world average when it comes to education, health, and civic engagement, according to the OECD’s Better Life Index. In this dashboard, you can see where South Korea ranks in terms of housing, jobs, income, and more, and compare it against other developed countries. OECD Oil shocks, war, and the 1970s crisis that remade American energy and economicsThe oil crises of the 1970s—fueled by Middle East conflict and OPEC’s dominance—triggered inflation, price controls, and policy failure. But they also accelerated fracking, alternative energy, and the rise of free-market economics. The Marginal Revolution Podcast Oil’s legacy: fueling industrial growth and shaping imperial strategiesThis episode of The Rest Is History podcast traces oil’s pivotal role—from fueling industrial growth to steering imperial power. It also examines how access to oil shaped US politics, World War II, and sparked the creation of OPEC following the Suez Crisis. The Rest is History Trace the rise of oil: from early drilling to today’s global powerThis animated map video vividly illustrates how petroleum shaped global politics and industry—from 18th-century uses and 19th-century drilling booms in North America to today’s OPEC strategies, shale revolution, and geopolitical oil influence. Geo History Oil prices have been volatile for decadesThis explainer shows oil’s rollercoaster: OPEC-led embargoes in the 1970s, shale surges in the 2000s, and the US flip to becoming a net oil exporter in 2020. Investopedia As of 2022, the US accounted for nearly one-fifth of global oil productionBy 2022, the US had cemented its position as the world’s top oil producer with close to 18 million barrels per day. This eclipsed Saudi Arabia and Russia. Visual Capitalist Iran-Iraq war drained over $1T from the combined economies of Iran and IraqAcross eight years (1980-88), Iran and Iraq each lost about $500 B in GDP, infrastructure destruction, military expenses, disrupted oil exports, and mounting debt—totaling over $1 T in economic damage. TheCollector Iran’s 1979 revolution sparked a second oil shock—and reconfigured global energy marketsWidespread strikes in Iran’s oil sector during the 1978-79 revolution slashed production and triggered panic buying, flooding oil markets with fear. Brookings The Seven Sisters were a dominant midcentury Western oil consortiumAmid the fallout of World War II, Western multinational corporations expanded their control of the production of oil across the oil-rich Middle East, earning the pejorative nickname of the Seven Sisters. In the 1970s, the group’s role diminished as nationalist movements pursued sovereign control of the oil. Herold Financial Dictionary A 2024 cheating scandal cast doubt on the industryIn 2024, National Fantasy Football Championship, a fantasy league with big payouts, fired one of its employees for manipulating data. The episode cast doubt on the relatively unregulated industry, despite the league coming down hard on the nefarious worker. NBC News Watch Springsteen open a somber 9/11 tribute“America: A Tribute to Heroes” was a fundraising telethon on Sept. 21, 2001, and simulcast across the four major networks. Springsteen opened the program with “My City of Ruins,” a song originally written about Asbury Park that took on new significance after the Sept. 11 terrorist attacks. brodieman1999 The Open Era redefined both men's and women's tennisThe early days of modern tennis were largely enjoyed by the upper class, who had money for lawns to play on. More often than not, the best players competed for the love of the game, not money. This led to Grand Slams limiting the competitions to amateur athletes. Things changed in 1968, considered the start of the Open Era, when professional players were permitted to play. TennisCompanion Try OpenAI’s ChatGPT for freeIn late 2022, OpenAI launched a chatbot that quickly became one of the most viral tech products of all time. The software uses code to interpret natural language to produce sophisticated content based on simple user prompts. OpenAI The global economy runs on US dollarsNearly 90% of international trade in 2019 was processed in US dollars. It’s not only the most circulated currency in the world but also considered one of the most stable. The Wall Street Journal Motown Records used the assembly line for songwritingIn the 1960s, Motown Records was the world's most reliable rock 'n' roll label and the home of the Supremes. That success was largely due to its songwriting process, a finely tuned assembly line model inspired by Motown owner Berry Gordy's time working at the Ford Motor Company. GBH The physics behind opera singingHow can opera singers project their voices to audiences in huge auditoriums without using microphones and overpowering the orchestra? This video explains this phenomenon, using animation to demonstrate the physics of the human voice and how opera singers hone their technique to hit higher frequencies and a distinctive ringing timbre known as their squillo. TED-Ed Opera seria and opera buffa differ in their tones and themesOpera began in the late 1590s with "Dafne" and evolved into two styles by the 18th century. Opera seria catered to elites with heroic, mythological themes, while opera buffa brought humor and relatable stories to wider audiences. Today, modern opera often tackles contemporary social issues. 1440 Operatic singing involves a number of different vocal personalitiesOpera singing ranges are typically categorized by gender and then further subdivided into specific voice types like bass, baritone, tenor, mezzo-soprano, countertenor, and soprano voices. From the lowest to highest range, experience the difficult and impressive singing styles. Royal Ballet and Opera The first surviving opera tells the story of Orpheus and EuridiceJacopo Peri's “Euridice,” premiered in 1600, is the oldest surviving opera. The story is based on the Greek mythology tale about a musician named Orpheus who attempts to save his wife from the underworld by pleasing the god Hades with his musical talents. Tout Est Musique Opera melodies from centuries ago still appear in TV and movies todayEven if you haven't witnessed an 18th century opera, you've likely heard melodies from one in modern media like “Apocalypse Now” and “Sesame Street.” Today, sports events, movies, and television feature operatic melodies even over a century after they were written. BBC You have to earn under a certain gross amount per year to be eligible for a Roth IRAA Roth IRA might make the most sense for someone confident that they will have a higher income in retirement than they do now. For 2025, those allowed to contribute to a Roth IRA must have a modified adjusted gross income (MAGI) of less than $150K. Investopedia Open-end and closed-end funds differ in how they create and distribute sharesOpen-end funds are able to create new shares on a daily basis, while closed-end funds have a set number of shares. This impacts the way shares are traded on the open market, and the way they’re priced. Khan Academy OpenAI initially focused on novelty projects, like training bots to win video gamesWith an initial commitment of $1B from tech executives, OpenAI launched in 2015 to develop artificial general intelligence systems. ChatGPT's success after its 2022 launch surprised OpenAI's team as it spurred a global AI race. 1440 Watch video samples created by AISora, OpenAI’s video generation tool, can create up to 60 seconds of photorealistic video footage featuring highly detailed scenes, complex camera motion, and multiple characters with vibrant emotions from a text prompt. OpenAI Before ChatGPT, OpenAI Five beat esports world championsThe bot won two back-to-back Dota 2 matches and developed a new skill of working as a teammate with humans, even though it had only been trained to beat other bots. OpenAI In the 1970s, the US experienced a period of stagflationIt was characterized by high inflation, slow economic growth, and high unemployment. The crisis was triggered by a combination of factors, including loose monetary policy that spurred excess demand and spiraling oil prices caused by an OPEC embargo in 1973. Philadelphia Federal Reserve An eye-opening interactive journey into the global drug tradePOPPY Interactive reveals how drug money destabilizes entire countries, fuels global conflicts, and allows a worldwide illegal economy to grow. Navigating the site involves diving into three major routes—the Northern Route, the Balkan Route, and... Poppy Interactive An open-source database on global terrorismThe University of Maryland’s Global Terrorism Database (GTD) provides information on terrorist events around the world from 1970 through 2020. The database is open-source, and includes data on domestic, transnational, and international terrorist incidents. Users can find information on more than 200,000 cases, including the date and location of an incident, the weapons used, the nature of the target, the number of casualties, and the group or individual responsible. Also included on the site is a Heat Map, showing the geographic concentration and intensity of terrorist attacks that occurred worldwide in 2020. Explore the most comprehensive unclassified database on terrorist attacks in the world here. University of Maryland

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