Opec Secretary General Tells UAE State News Agency Organization Is In Discussion With Azerbaijan, Malaysia, Brunei, Mexico To Join
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OPEC is reportedly in discussions with Azerbaijan, Malaysia, Brunei, and Mexico about potential membership. The news was announced by the OPEC Secretary General and reported by the UAE State News Agency.
July 05, 2023 | 5:47 pm
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NEUTRAL IMPACT
The United States Oil Fund (USO) could be impacted by OPEC's potential expansion. More members could lead to changes in global oil supply and prices.
OPEC's potential expansion could lead to changes in global oil supply and prices, which would directly impact the United States Oil Fund (USO). However, the impact is uncertain as it depends on the policies of the new members and their oil production capabilities.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75