The secret meeting that launched OPEC
Planet Money
May 13
The secret meeting that launched OPEC
The secret meeting that launched OPEC

Planet Money
May 13
Shownote
Shownote
Recently, a listener wrote in with a question about OPEC and oil prices. She was
prepping for a camping trip… thinking about how much it costs to fill up her
diesel-guzzling camper van at the pump.
“It would be so awesome if you guys could do an episode explaining OPEC to us,”
she emailed us. She wanted to know: why does OPEC exist? Why does it limit the
supply of oil? And now that the United Arab Emirates has dropped out, what will
happen to gas prices?
We love when our listeners write in (and send us voice notes!). The simplest
questions can reveal how the complicated web of the economy works.
On our latest: we answer our listener’s questions… and the questions behind
those questions!
Related episodes:
• Chevron, Venezuela and the Paradox of Plenty
[https://www.npr.org/2026/01/16/nx-s1-5680400/chevron-venezuela-oil-industry-petrostate]
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This episode of Planet Money was produced by James Sneed with help from Willa
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Highlights
Highlights
A curious listener’s question about diesel prices for her camper van opens the door to a deeper look at how oil markets really work—and why a decades-old cartel still matters, even as it unravels.
Chapters
Chapters
How a secret Nile meeting and a bold journalist sparked OPEC's birth?
00:00From quiet talks to global shockwaves: when OPEC learned it could move markets?
10:09Why did Saudi Arabia flood the world with oil—and what did it teach OPEC about power?
16:30What pushed the UAE out of OPEC—and was it really about climate or conflict?
22:53Will gas prices drop now that the UAE has left? (Spoiler: probably not.)
25:51Transcript
Transcript
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