OPEC+ Agrees to Increase Oil Production from September 2026

OPEC+ countries agree to increase oil production from September 2026. The development brings focus on OPEC and OPEC+, including their headquarters, membership, and formation details.

OPEC and OPEC+ (Oil Producers Groupings):

Dimension	Key Details
OPEC headquarters	OPEC is headquartered in Vienna, Austria.
OPEC nature	OPEC comprises a permanent intergovernmental organization of 11 oil-exporting developing nations.
OPEC members	OPEC comprises Algeria, Republic of Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, and Venezuela.
India’s membership status	India is not a member of OPEC.
OPEC earlier members	OPEC earlier members comprise Ecuador, Indonesia, Qatar, Angola, and UAE.
OPEC genesis	OPEC is established under the Baghdad Conference in 1960 by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela.
OPEC objective	OPEC provides for co-ordinating and unifying petroleum policies among member countries to secure fair and stable prices for petroleum producers.
OPEC+ establishment	OPEC+ is established under a 2016 agreement between OPEC and 10 other oil-producing countries, in response to falling oil prices driven by a significant increase in U.S. shale oil output.
OPEC+ members	OPEC+ comprises OPEC members and Russia, Azerbaijan, Kazakhstan, Bahrain, Brunei, Malaysia, Mexico, Oman, South Sudan, and Sudan.