Difference between oil cartel OPEC and OPEC+

What are the differences between oil cartel OPEC and OPEC+ ? Are there different members in each organization ? What OPEC and OPEC plus have in common ?
posted on 07.12.2019 at 14:56
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OPEC is an abbreviation of Organization of the Petroleum Exporting Countries. Its member countries generate a big part of world's oil production. Organization is currently headquartered in Vienna and it consists of 14 members:

  • Algeria
  • Angola
  • Ecuador
  • Equatorial Guinea
  • Gabon
  • Iran
  • Iraq
  • Kuwait
  • Libya
  • Nigeria
  • Republic of the Congo
  • Saudi Arabia
  • United Arab Emirates
  • Venezuela

OPEC+ consists of OPEC members and another 10 oil producing countries:

  • Azerbaijan
  • Bahrain
  • Brunei
  • Kazakhstan
  • Malaysia
  • Mexico
  • Oman
  • Russia
  • South Sudan
  • Sudan

Currently OPEC+ is a group of 24 members.
posted on 29.12.2019 at 17:47
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