OPEC+ is an alliance between OPEC member countries and other major non-OPEC oil-producing nations. It was formed in late 2016 to coordinate policies and exert more control over the global crude oil market.
The current 12 OPEC members are:
The major non-OPEC countries that are part of the OPEC+ alliance include:
So in summary, OPEC+ consists of the 12 OPEC nations along with 10 other major oil-producing countries led by Russia. Together, OPEC+ members account for around 41% of global oil production and aim to coordinate supply policies to stabilize oil prices and maximize profit
