OPEC may convene 60th anniversary meeting in Baghdad

OPEC countries may hold a meeting in Baghdad in honor of the 60th anniversary of the organization in the second half of May, after a one-year hiatus if flight restrictions are lifted, reads a letter from Iraqi Oil Minister Ihsan Abdul Jabbar addressed to the OPEC Secretary-General Mohammed Barkindo, Report informs referring to TASS.

OPEC celebrated 60 years since its foundation back in September 2020, but due to epidemiological restrictions, the meeting was postponed until February 26, 2021.

"However, due to uncertainties with new restrictions, we won’t be able to organize this meeting, and we propose to hold it in the second half of May 2021 in Baghdad," the minister wrote. In his letter, he expressed hope that mass vaccinations in many countries will start before March.

OPEC was founded in September 1960 at an oil conference in Baghdad by five states - Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. Later, other countries joined them. As of February 2021, OPEC includes 13 countries: Algeria, Angola, Venezuela, Gabon, Iran, Iraq, Congo, Kuwait, Libya, the UAE, Nigeria, Saudi Arabia, Equatorial Guinea. The headquarters is located in Vienna. OPEC accounts for about a third of all world oil production.

As noted in OPEC earlier, a festive meeting of cartel members is to be held at the Al Shaab exhibition complex in Baghdad. It is expected to include not only ministerial consultations but also musical and cultural events.