{"id":223973,"date":"2025-05-14T13:56:32","date_gmt":"2025-05-14T17:56:32","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?post_type=glossary-terms&#038;p=223973"},"modified":"2025-05-14T13:56:35","modified_gmt":"2025-05-14T17:56:35","slug":"opec","status":"publish","type":"glossary-terms","link":"https:\/\/www.interactivebrokers.com\/campus\/glossary-terms\/opec\/","title":{"rendered":"OPEC+"},"content":{"rendered":"\n<p>OPEC+ is an expanded alliance of oil-producing countries that includes the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil-producing nations, most notably Russia. Formed in 2016, OPEC+ was established to enhance cooperation between traditional OPEC members and other major oil producers in order to stabilize global oil markets, primarily by coordinating production levels.<\/p>\n\n\n\n<p>The primary goal of OPEC+ is to balance global oil supply and demand to avoid price volatility. This includes making coordinated output cuts or increases in response to economic trends, geopolitical tensions, or shifts in energy demand. For example, during the COVID-19 pandemic, OPEC+ implemented record-breaking production cuts to support collapsing oil prices. Their decisions heavily influence oil prices, inflation, and global energy markets, and are closely watched by governments, investors, and industries worldwide.<\/p>\n\n\n\n<p>In essence, OPEC+ has become one of the most influential forces in the global energy economy, shaping both short-term price dynamics and long-term strategic planning for oil-dependent economies.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>OPEC+ is an expanded alliance of oil-producing countries that includes the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil-producing nations, most notably Russia. 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