Discussing the recent fuel price increases on TVR INFO, Eugenia Gusilov offered additional insights into the dynamics between the OPEC+ group and non-OPEC producers. Building on previous analyses, the new elements of the discussion focused on the structure of OPEC+.

The OPEC group consists of 13 countries, with Saudi Arabia as the largest producer. Notably, three OPEC members, namely Iran, Libya, and Venezuela, are exempt from production quotas. Since 2016, another 10 non-OPEC countries, led by Russia as the largest producer in this group, have coordinated their oil production policy with OPEC. This extended coalition of 23 countries is known as OPEC+.

Alongside Russia, other notable non-OPEC countries aligned with this policy since 2016 include Azerbaijan, Kazakhstan, and Mexico.