ICYMI – OPEC chief says the search is on for new members on the oil cartel

<p>Haitham al-Ghais, secretary-general of the Organization of Petroleum Exporting Countries (OPEC), signaled this week that the producers’ group is actively open to new members.</p><p>He said he is actively trying to expand the group. On requirements to become an OPEC member:</p><ul><li>“They have to be a net exporter, substantial, they have to have similar goals as OPEC. This is all mentioned very clearly in our statute. And I think many countries that I just named actually fit this profile. So … work in progress.”</li><li>“I was in Malaysia, I was in Brunei,” he said, stressing that he had not necessarily invited these countries to join the organization. “I was in Azerbaijan, I was in Mexico.”</li></ul><p><a href="https://www.cnbc.com/2023/07/06/opec-chief-says-the-search-is-on-for-new-members-of-the-oil-producers-group.html" target="_blank" rel="nofollow">More here</a></p><p>OPEC+ includes Russia</p>

This article was written by Eamonn Sheridan at www.forexlive.com.