Which countries are members of OPEC?
Currently, the Organization comprises 15 Member Countries – namely Algeria, Angola, Congo, Ecuador, Equatorial Guinea, Gabon, IR Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela.
How many countries are the members of OPEC currently in 2020?
13 Member Countries
This means that, currently, the Organization has a total of 13 Member Countries. The OPEC Statute distinguishes between the Founder Members and Full Members – those countries whose applications for membership have been accepted by the Conference.
How many countries are in OPEC plus?
Officially that demand can be met by 23 nations in the OPEC+ alliance. On paper, they have the capacity to pump 5.6 million barrels a day more than they are today — the aggregation of baselines they were allowed to ramp up to under a pact to support oil prices.
Which country left OPEC recently?
Countries that left OPEC include Ecuador, which withdrew from the organization in 2020, Qatar, which terminated its membership in 2019, and Indonesia, which suspended its membership in 2016.
Is Qatar part of OPEC?
Qatar decided to leave the cartel in late 2018, saying its exit was down to its increasing focus on natural gas as its main export. It had been a member of the Organization of Petroleum Exporting Countries since 1961. But observers saw the move as the result of a rift between Qatar and some of its neighbors.
Which countries are members of the G8?
G8 Member Countries. Its eight members included: United States. Canada. France. Germany. Italy. Japan. Russia.
Which countries were members of OPEC in 1967?
Member Countries. These countries were later joined by Qatar (1961), Indonesia (1962), Libya (1962), the United Arab Emirates (1967), Algeria (1969), Nigeria (1971), Ecuador (1973), Gabon (1975), Angola (2007), Equatorial Guinea (2017) and Congo (2018). Ecuador suspended its membership in December 1992, but rejoined OPEC in October 2007.
Who are the 5 founding members of OPEC?
Member Countries 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 Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. They were to become the Founder Members of the Organization.
Which countries are members of the G6?
When the group was formed in 1975, it was known as the G6, comprising France, West Germany, Italy, Japan, the United Kingdom, and the United States.