OPEC Statute 1960 (Organization of the Petroleum Exporting Countries)

The Statute of the Organization of the Petroleum Exporting Countries (OPEC Statute) is a global supranational meta-framework foundational-OPEC-treaty framework adopted by the 5 founding petroleum-exporting states in Baghdad — structurally distinctive globally as the only modern global supranational …

Key Developments

1. 1960

   OPEC Statute adopted

   OPEC Statute adopted 14 September 1960 at Baghdad Conference in Baghdad Iraq by Iran + Iraq + Kuwait + Saudi Arabia + Venezuela — formal foundational OPEC treaty framework adopted.

2. 1965

   OPEC Headquarters moves to Vienna

   OPEC Headquarters moved from Geneva Switzerland to Vienna Austria 1 September 1965 — formal OPEC Headquarters framework operational.

3. 1973

   1973 Oil Crisis + Arab Oil Embargo

   1973 Oil Crisis + Arab Oil Embargo 17 October 1973 - 17 March 1974 imposed by OAPEC during Yom Kippur War + OPEC quadrupling oil prices — formal foundational OPEC oil-pricing-power framework operational.

4. 1979

   Iranian Revolution + 1979 Oil Crisis

   Iranian Revolution 1979 + 1979 Oil Crisis — formal OPEC oil-pricing framework operational.

5. 1992

   Ecuador withdraws + rejoins 2007

   Ecuador withdrew from OPEC 1992 + rejoined 2007 — formal OPEC member-withdrawal-rejoining framework.

6. 1995

   Gabon withdraws + rejoins 2016

   Gabon withdrew from OPEC 1995 + rejoined 1 July 2016 — formal OPEC member-withdrawal-rejoining framework.

7. 2016

   OPEC-Plus established + Indonesia withdraws

   OPEC-Plus Declaration of Cooperation DoC signed 10 December 2016 in Vienna Austria + Indonesia withdrew from OPEC 30 November 2016 — formal foundational OPEC-Plus + member-departure framework operational.

8. 2019

   Qatar withdraws from OPEC

   Qatar withdrew from OPEC 1 January 2019 — formal OPEC member-departure framework operational.

9. 2020

   Ecuador withdraws + COVID-19 oil price war

   Ecuador withdrew from OPEC 1 January 2020 + COVID-19 oil price war March-April 2020 between Saudi Arabia + Russia + historic OPEC-Plus cut 9.7 million barrels per day from 12 April 2020 — formal OPEC member-departure + COVID-19-oil-crisis framework operational.

10. 2024

    Angola withdraws from OPEC

    Angola withdrew from OPEC 1 January 2024 — formal OPEC member-departure framework operational reducing OPEC to 12 members.

Structural Findings

• OPEC Statute operates a supranational global binding-treaty framework — places OPEC Statute in the global supranational-meta-framework cluster.
• Only modern global supranational binding-treaty framework operating on formal petroleum-exporting-states framework + global oil-price-management cartel framework is structurally distinctive globally — only modern global supranational binding-treaty framework operating on formal petroleum-exporting-states framework + global oil-price-management cartel framework + only modern global supranational binding-treaty framework operating formal production-quota framework + only modern global supranational binding-treaty framework operating formal OPEC-Plus framework with Russia + Mexico + Kazakhstan + Oman + 6 other non-OPEC oil-producers framework from 2016 + only modern global supranational binding-treaty framework operating formal Qatar-departure-2019 + Ecuador-departure-2020 + Indonesia-departure-2016 + Angola-departure-2024 framework + only modern global supranational binding-treaty framework operating formal ~40% global oil production framework + ~80% proven oil reserves framework.
• Central jurisdiction of formal OPEC Production Quota framework is structurally distinctive globally — only modern global supranational binding-treaty framework operating formal production-quota framework + only modern global supranational binding-treaty framework operating formal coordinated-supply-management framework.
• Central jurisdiction of formal OPEC-Plus 2016 framework is structurally distinctive globally — only modern global supranational binding-treaty framework operating formal OPEC-Plus framework + only modern global supranational binding-treaty framework operating formal Russia-Saudi-Arabia-oil-cooperation framework.
• Central jurisdiction of formal OPEC Member Departures 2016-2024 framework is structurally distinctive globally — only modern global supranational binding-treaty framework operating formal four-member-departures-in-eight-years framework.
• 12 OPEC member state + 10 non-OPEC partner ratification framework is structurally distinctive globally — comprehensive petroleum-exporting-states coverage framework.
• 1960 OPEC Statute + 1965 Vienna Headquarters + 1973 1973 Oil Crisis + Arab Oil Embargo + 1979 Iranian Revolution + 1992 Ecuador withdraws + 1995 Gabon withdraws + 2016 OPEC-Plus + Indonesia withdraws + 2019 Qatar withdraws + 2020 Ecuador withdraws + COVID-19 + 2024 Angola withdraws OPEC-framework-development sequence is structurally distinctive globally.
• OPEC Statute + Declaratory Statement + Long-Term Strategy + OPEC-Plus DoC + Production Quota formal quintet framework with limited PA-intersection framework via formal petroleum-exporting-states + Gulf-Arab-family-law framework not directly addressing family-law-issues framework — distinctive in operating limited PA-intersection framework relative to other global supranational frameworks.

Apex Courts

• OPEC Conference — Vienna. Formal supreme decision-making body for OPEC.
• OPEC Board of Governors — Vienna. Formal executive body for OPEC.
• OPEC Secretary General — Vienna. Formal administrative head body for OPEC.
• OPEC Secretariat — Vienna. Formal administrative body for OPEC.
• OPEC-Plus Joint Ministerial Monitoring Committee (JMMC) — Vienna. Formal OPEC-Plus monitoring framework body.

Statutory Framework

• OPEC Statute (1960). Statute of the Organization of the Petroleum Exporting Countries adopted 14 September 1960 at Baghdad Conference in Baghdad Iraq by Iran + Iraq + Kuwait + Saudi Arabia + Venezuela — formal foundational OPEC treaty framework establishing comprehensive OPEC organisation framework.
• OPEC Statute Article 3 (1960). OPEC Statute Article 3 framework on OPEC objectives: coordination + unification of petroleum policies + securing fair + stable prices for petroleum producers framework — formal foundational OPEC objectives framework.
• OPEC Declaratory Statement of Petroleum Policy (1968). OPEC Declaratory Statement of Petroleum Policy in Member Countries adopted 24-25 June 1968 — formal foundational OPEC petroleum-policy framework.
• OPEC Long-Term Strategy (1978). OPEC Long-Term Strategy adopted 1978 — formal foundational OPEC long-term-strategy framework.
• OPEC-Plus DoC (2016). OPEC-Plus Declaration of Cooperation DoC signed 10 December 2016 in Vienna Austria — formal foundational OPEC-Plus framework.

Raw data: /jurisdictions/opec-statute.json
Maintained by Alan Markson · Licensed under CC BY 4.0 · Originally published at antialienate.com.