# OPEC+ Flashcards

1
Q

Full form of OPEC

A

Organisation of the petroleum exporting countries and its alliance

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2
Q

OPC plus head has decided to cut what amount of water

A

2 million barrels/day

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3
Q

OPEC was established in

A

1960

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4
Q

Founding members of OPEC

A

Iran
Iraq
Kuwait
Saudi Arabia
Venezuela

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5
Q

Current members

A

13

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6
Q

Why OPEC becomes OPEC+

A

With the addition of 10 more members

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7
Q

Previously controlled by western dominant multinational oil companies known as

A

Seven sisters

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8
Q

Roughly what percent of world crude oil it produce

A

40%

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9
Q

How many times they meet

A

Usually EVERY MONTH

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10
Q

Headquarter

A

Vienna, Austria

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11
Q

Full form of IEA

A

International energy agency

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12
Q

IEA was established in

A

1973.
(Set up in 1974)

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13
Q

Headquarter of IEA

A

Paris, France

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14
Q

Four main area of focus on IEA

A

Energy security
economic development
environmental awareness
engagement worldwide

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15
Q

When India became member of IEA

A

2017

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16
Q

Total members

A

30

17
Q

Latest number of IEA

A

Mexico