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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