How many members does OPEC have?
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.
Who were the 7 founding members of OPEC?
The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
Is India a member of OPEC?
India became an associate member of the International Energy Agency in 2017. Mexico officially became the International Energy Agency’s 30th member country in February 2018, and its first member in Latin America.
Which country is the leader of OPEC?
Saudi Arabia
Saudi Arabia is the de facto leader of the organization. The nation of Indonesia was once part of OPEC but announced that it would be leaving the organization in 2008 because it would not be able to meet the production quota.
What 2 countries have most of the world’s oil reserves?
Proven Oil Reserves, by Country
| Rank | Country | Oil Reserves (billion barrels) |
|---|---|---|
| #1 | Venezuela | 304 |
| #2 | Saudi Arabia | 298 |
| #3 | Canada | 170 |
| #4 | Iran | 156 |
Which region has the largest oil reserves?
Venezuela
Venezuela has the largest amount of oil reserves in the world with 300.9 billion barrels. Saudi Arabia has the second-largest amount of oil reserves in the world with 266.5 billion barrels.
Who are the 3 former members of OPEC?
Former OPEC members are Ecuador, Indonesia and Qatar. A larger group called OPEC+ was formed in late 2016 to have more control on the global crude oil market.