Beirut in the 1950s
From the Archives: Baghdad and Beirut
Our look into Petroleum Economist's archives continues with October 1960 coverage of another key moment in the history of oil and gas: the founding of OPEC
The Arab League’s second oil conference being held at Beirut this month will be dominated by the recent agreement at Baghdad between leading oil exporting countries to set up OPEC with a view to consulting together on important matters affecting their oil interests and to bringing about stability in crude oil prices. Some of the considerations which arise are outlined below. As well as providing a forum for discussing many aspects of the international oil industry, the wide-ranging talks at Beirut should bring much enlightenment about this significant new development. The evolving relationships between the international oil companies and the governments of the main countries in which they pr
Also in this section
17 July 2025
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
16 July 2025
Crude quality issues are an often understated risk to energy security, highlighted by problems at a key US refinery
15 July 2025
Government consultations on the windfall tax and the exploration licence ban are positive steps, but it is unclear how long it will take for them to yield tangible outcomes
15 July 2025
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
