// definition
OPEC+
The enlarged OPEC
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Short definition
OPEC plus around ten non-member producers, including Russia, coordinating quotas since late 2016. Its decisions now weigh as much as OPEC's alone: the group raised output by nearly 600,000 barrels a day between April and June 2026, then by another 188,000 in July.
risk atlas
Knowledge map
Intuition
OPEC+ adds non-member producers, Russia included, and makes the reading of supply more political.
Why it matters now
Coordinated hikes or cuts shift the balance between inventories, supply discipline and geopolitical premium.
Related analyses
- Oil: the Chinese inventory capping pricesReserves, Brent prices and Chinese buying behaviour.
- Hormuz reopensNormalisation, price scenarios and geopolitical premia.
Related guides
- Reading the oil marketPrices, curve, inventories, OPEC and physical data.
Related datasets
- risk.jsonPublic snapshot of the risk signals.
- signals/history.jsonPoint-in-time history of the signals.
- risk-diff.json1, 7 and 30-day diff of signals, sources and models.
- evidence-graph.jsonClaims, evidence and their sources as a graph.
Signals using it
- Energy MonitorMethodology of the energy stress signal.
- Risk DiffRecent change in risk and source freshness.
Primary sources
- U.S. Energy Information AdministrationOil, gas, inventories, production and the Short-Term Energy Outlook.
- Commodity Futures Trading CommissionFutures positioning through the Commitments of Traders.
- World Bank Open Data & OECD DataMacro comparables and commodity prices.