Introduction
The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization founded in 1960 that aims to coordinate and unify the petroleum policies of its member countries. The main objective of OPEC is to secure fair prices for petroleum producers and a regular supply for consumers. In this article, we will discuss the current number of countries that are part of OPEC in 2023.
The Current Number of OPEC Member Countries
As of 2023, there are 13 member countries that are part of OPEC. These countries include:
1. Algeria
Algeria is a country located in North Africa and is one of the founding members of OPEC. The country is known for its vast oil and gas reserves and is a major exporter of petroleum products.
2. Angola
Angola is a country located in Southern Africa and joined OPEC in 2007. The country is known for its large offshore oil reserves and is a major exporter of crude oil.
3. Congo
The Republic of the Congo, also known as Congo-Brazzaville, is a country located in Central Africa and joined OPEC in 2018. The country is known for its offshore oil reserves and is a major exporter of crude oil.
4. Gabon
Gabon is a country located in Central Africa and joined OPEC in 1975. The country is known for its offshore oil reserves and is a major exporter of crude oil.
5. Iran
Iran is a country located in the Middle East and is one of the founding members of OPEC. The country is known for its large oil and gas reserves and is a major exporter of petroleum products.
6. Iraq
Iraq is a country located in the Middle East and joined OPEC in 1960. The country is known for its vast oil reserves and is a major exporter of crude oil.
7. Kuwait
Kuwait is a country located in the Middle East and is one of the founding members of OPEC. The country is known for its large oil reserves and is a major exporter of crude oil.
8. Libya
Libya is a country located in North Africa and is one of the founding members of OPEC. The country is known for its large oil reserves and is a major exporter of crude oil.
9. Nigeria
Nigeria is a country located in West Africa and joined OPEC in 1971. The country is known for its vast oil reserves and is a major exporter of crude oil.
10. Saudi Arabia
Saudi Arabia is a country located in the Middle East and is one of the founding members of OPEC. The country is known for its vast oil reserves and is a major exporter of crude oil.
11. United Arab Emirates
The United Arab Emirates (UAE) is a country located in the Middle East and joined OPEC in 1967. The country is known for its large oil reserves and is a major exporter of crude oil.
12. Venezuela
Venezuela is a country located in South America and is one of the founding members of OPEC. The country is known for its vast oil reserves and is a major exporter of crude oil.
13. Equatorial Guinea
Equatorial Guinea is a country located in Central Africa and joined OPEC in 2017. The country is known for its offshore oil reserves and is a major exporter of crude oil.
Conclusion
In conclusion, there are currently 13 member countries that are part of OPEC in 2023. These countries are located in different regions of the world and are known for their vast oil and gas reserves. OPEC plays a significant role in the global oil market and helps to regulate the supply and demand of petroleum products.
