Editing OPEC (section)

===Post-WWII situation===
In 1949, [[United States of Venezuela|Venezuela]] initiated the move towards the establishment of what would become OPEC, by inviting Iran, Iraq, Kuwait and Saudi Arabia to exchange views and explore avenues for more regular and closer communication among petroleum-exporting nations as the world recovered from [[World War&nbsp;II]].<ref name="open">{{Cite web |url=http://www.opec.org/opec_web/static_files_project/media/downloads/publications/GenInfo.pdf |title=General Information |date=May 2012 |work=OPEC |access-date=13 April 2014 |archive-url=https://web.archive.org/web/20140413233306/http://www.opec.org/opec_web/static_files_project/media/downloads/publications/GenInfo.pdf |archive-date=13 April 2014 |url-status=live }}</ref> At the time, some of the world's largest [[List of oil fields|oil fields]] were just entering production in the Middle East. The United States had established the [[Interstate Oil Compact Commission]] to join the [[Texas Railroad Commission]] in limiting overproduction. The US was simultaneously the world's largest producer and consumer of oil; the world market was dominated by a group of [[multinational companies]] known as the "[[Seven Sisters (oil companies)|Seven Sisters]]", five of which were headquartered in the US following the breakup of [[John D. Rockefeller]]'s original [[Standard Oil]] monopoly. Oil-exporting countries were eventually motivated to form OPEC as a counterweight to this concentration of political and [[economic power]].<ref name="prize" />