Main article: Oil and gas production
The OPEC + group includes 12 members of the OPEC organization, created to coordinate oil production in order to stabilize markets, as well as 11 more large oil producing countries, among which Russia is the largest.
2025: Brazil joins OPEC +
The Brazilian government on February 18, 2025 approved joining OPEC +, a group of major oil exporting countries, signaling the country's transformation into a major oil power.
Brazil is the seventh largest oil producer in the world, with daily production of about 4.3 million barrels, or 4% of global production.
2020: OPEC + countries produce 57% of the total
World oil production before the COVID-19 pandemic in 2020 was 95 million barrels. per day, which was provided by
- countries as part of OPEC + (54 million barrels. per day, 57% of the total),
- US shale companies (7.8 million barrels, 8%) and
- all others, or "others" (33 million barrels, 35%).
At the beginning of 2020, OPEC + deliberately reduced production amid falling demand and normalized storage overflow, gradually increased volumes when demand recovered, and it accounts for almost all global idle capacity. Shale producers in the United States have turned into a key player over the past decade, adding a shocking 7 million barrels from 2009 to 2019. per day.
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