In Today’s News:
- OPEC and OPEC+
1. OPEC and OPEC+
Russia plans to support an increase in oil production by the OPEC+ group from February 2021.
Prelims GS – International Organisations
- The Organization of the Petroleum Exporting Countries (OPEC) was founded in Baghdad, Iraq, with the signing of an agreement in September 1960 by five countries namely the Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. They were to become the Founder Members of the Organization.
- Currently, 13 member countries are there in OPEC.
- OPEC Secretariat: Vienna
- India is not a member of OPEC.
- Recently Qatar exited from OPEC in 2019.
Member countries of OPEC:
- Equatorial Guinea
- Saudi Arabia
Click here to know more about OPEC.
- OPEC+ refers to non-OPEC members which export crude oil.
- Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, South Sudan, and Sudan are the OPEC plus(OPEC+) countries.
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