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OPEC+

OPECプラス Institutions ✓ Verified Citations Market Practitioner Term
<Definition> An international framework in which OPEC member nations and non-member producers led by Russia coordinate production levels to stabilize the oil market, based on the Declaration of Cooperation (DoC) concluded on December 10, 2016 (Source: OPEC official site, "Declaration of Cooperation").
OPEC+ definition diagramDiagram showing how OPEC member nations and non-member producers (led by Russia) combine to form OPEC+ OPEC members Non-member producers Led by Russia OPEC+ Established via DoC on Dec 10, 2016
日本語
<定義> 石油輸出国機構(OPEC)加盟国と、ロシアをはじめとする非加盟産油国が、2016年12月10日に締結した協力宣言(Declaration of Cooperation/DoC)に基づき、石油市場の安定化を目的として生産量を協調的に調整する国際的な枠組み(出典:OPEC公式サイト「Declaration of Cooperation」)。

<Mechanism>

OPEC+'s decision-making process (overview)Four stages proceeding left to right: holding a meeting, setting quotas, implementation and monitoring, and review ① Meeting held Ministerial, mostly virtual ② Quota set Two-layer + MSC assessment ③ Implement & monitor OPEC secondary sources ④ Review Feeds into next meeting

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