Opec Members
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Keyword Suggestion
Related websites
Explainer: What is OPEC? - The World Economic Forum
Nov 11, 2022 · OPEC produces about 40% of the world’s crude oil and its members’ exports make up around 60% of global petroleum trade. The group aims to regulate global oil prices by coordinating on reductions or increases in production.
Weforum.orgOPEC oil production by country 2023 - Statista
Jul 25, 2024 · The Organization of the Petroleum Exporting Countries (OPEC) was founded in 1960, by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela and later joined by current members: Algeria, Angola, Congo
Statista.comOPEC - statistics & facts | Statista
Aug 8, 2024 · OPEC’s benchmark for oil prices is the so-called OPEC Reference Basket (ORB). It is an average price of different oil blends, one from each OPEC member state. Among the better-known blends are
Statista.comHow reliant are OPEC members on petroleum product exports?
Oct 7, 2021 · opec members have further diversified their export portfolio in recent years, with petroleum products making up only 43% of OPEC exports in 2020. Non-petroleum exports from OPEC countries grew from only US$55 billion in 2000 to US$431 billion in 2020.
Weforum.orgOPEC crude oil price statistics annually 1960-2024 | Statista
Nov 12, 2024 · The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the opec members.
Statista.comWhat’s the future of OPEC? | World Economic Forum
Jan 14, 2015 · Since its formal creation in 1960 the members of OPEC, and specifically Saudi Arabia (and in reality the Kingdom’s control over global oil markets is much larger than that 16% of reserves implies as its more than 260 billion barrels are among the easiest and cheapest to extract and before enhanced recovery techniques accounted for a much larger share of global …
Weforum.orgOPEC's share of global crude oil production 2023 - Statista
Jul 25, 2024 · OPEC accounts for over 37 percent of the world’s total crude oil production. In 2023, OPEC's production showed a decrease of 1.5 percentage points compared to the previous year.
Statista.comOPEC+: oil output cuts by member state 2023 - Statista
Apr 29, 2024 · OPEC joined forces with ten other oil producing countries to create OPEC+. Mentioned countries other than Oman and Kazakhstan are classified as opec members according to the source. Citation formats
Statista.comChart: The Price of Oil Dependency | Statista
Aug 1, 2017 · As our chart shows, the current price (even though it has recovered somewhat lately) is still far too low for most opec members to balance their budgets. Only Iran and Kuwait are in the clear
Statista.comCrude oil reserves share OPEC countries 2023 | Statista
Jul 26, 2024 · Venezuela holds the largest crude oil reserves of any OPEC member state. In 2023, it accounted for 24.4 percent of all OPEC oil reserves. This was followed by Saudi Arabia at 21.5 percent.
Statista.com