The Organization of Petroleum Exporting Countries marked its 30th anniversary Friday, torn by the Persian Gulf crisis but vowing a comeback and promising to try to ensure consumers a secure supply of oil.
Among core members of OPEC, Iraq has annexed Kuwait and is at risk of becoming involved in a war with Saudi Arabia.But "OPEC will stay around. We have survived crises before," said the cartel's secretary-general, Subroto of Indonesia.
OPEC was founded in Baghdad on Sept. 14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela with the goal of breaking the power of Western oil multinationals and getting producers a fair price. Others to join later were Algeria, Ecuador, Gabon, Indonesia, Libya, Nigeria, Qatar and the United Arab Emirates.
The comments by Mr. Subroto were reported by OPEC's news agency, Opecna. It said Mr. Subroto told his staff at the Vienna-based secretariat: "A world without OPEC is unthinkable for as long as oil continues to provide the prime source of energy."