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OPEC + UPSC NOTE

 


  • The non-OPEC countries which export crude oil are termed as OPEC plus countries

  • OPEC plus countries include Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, South Sudan and Sudan.

  • OPEC+ was formed in late 2016

  • OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia

  • OPEC+ pumps about 40% of global crude, meaning its policy decisions can have a major impact on oil prices.

  • OPEC+ decisions and actions have a significant impact on global oil prices and market conditions. 

  • Production cuts by the alliance can lead to higher oil prices due to reduced supply, while production increases can have the opposite effect. 


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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: OPEC + UPSC NOTE
OPEC + UPSC NOTE
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Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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