# OPEC+ Flashcards
Full form of OPEC
Organisation of the petroleum exporting countries and its alliance
OPC plus head has decided to cut what amount of water
2 million barrels/day
OPEC was established in
1960
Founding members of OPEC
Iran
Iraq
Kuwait
Saudi Arabia
Venezuela
Current members
13
Why OPEC becomes OPEC+
With the addition of 10 more members
Previously controlled by western dominant multinational oil companies known as
Seven sisters
Roughly what percent of world crude oil it produce
40%
How many times they meet
Usually EVERY MONTH
Headquarter
Vienna, Austria
Full form of IEA
International energy agency
IEA was established in
1973.
(Set up in 1974)
Headquarter of IEA
Paris, France
Four main area of focus on IEA
Energy security
economic development
environmental awareness
engagement worldwide
When India became member of IEA
2017