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Four new countries have consulted to join OPEC so far πŸŒπŸ’Ό

Haitham Al Ghais, the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), has revealed that the organization is actively seeking to expand its membership. Consultations have been conducted with four countries, namely Azerbaijan, Malaysia, Brunei, and Mexico, regarding their potential membership in OPEC.

In a statement to the Emirates News Agency (WAM) during the 8th OPEC International Seminar in Vienna, Al Ghais emphasized that engaging with new countries outside the organization strengthens OPEC’s unity and coherence. He emphasized that the aim is not merely to increase the number of member states but to include countries with the same strategic objectives of preserving and stabilizing the oil markets.

Al Ghais further highlighted that the four countries being consulted had demonstrated solidarity with OPEC since 2017. He noted that these countries have faced significant challenges, such as market collapse and the impact of the pandemic in 2020. As a result, they share a common goal that aligns to stabilize the oil markets.

The consultations with these prospective new member countries reflect OPEC’s commitment to fostering collaboration and ensuring the collective interests of oil-producing nations.

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