Which South American country was a founding member of OPEC in 1960?

Venezuela was the only South American country among OPEC’s five founding members in 1960. The organization was established in Baghdad on 14 September by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela.

Venezuela’s role reflected its importance as a major oil producer and its frustration with the power held by large international oil companies. Venezuelan oil minister Juan Pablo Pérez Alfonzo helped develop the idea of cooperation among producing countries, including coordination over prices, production, and national control of petroleum resources.

OPEC initially aimed to give oil-exporting states a stronger voice in negotiations with multinational companies. Its influence expanded during the 1970s, when production restrictions and geopolitical tensions contributed to sharp increases in global oil prices. The organization later became a central force in debates over energy security and oil-market stability.

Colombia, Brazil, and Ecuador are all South American oil-producing countries, but none was part of OPEC’s original 1960 founding group. Ecuador joined later, withdrew, and rejoined, while Venezuela remained a founding member.