As the global energy landscape evolves, two major coalitions—BRICS and OPEC—are emerging as pivotal forces shaping the future of energy trade and governance. While OPEC (the Organisation of the Petroleum Exporting Countries), founded in 1960, has long held sway over oil markets by managing over 50% of global oil production, the expanding BRICS+ alliance has added a new dimension to the geopolitics of energy. The convergence of these two groups signals a growing shift in power from traditional Western institutions toward a more multipolar and Global South-led order.
OPEC’s traditional role has been to stabilise oil prices through strategic production decisions, ensuring market balance and price predictability. Its influence was further expanded through the creation of OPEC+, which includes non-member producers like Russia and, more recently, Brazil. Meanwhile, BRICS—originally comprising Brazil, Russia, India, China, and South Africa—has broadened its focus beyond economics and diplomacy, particularly with the formation of BRICS+. This expanded grouping includes major energy players such as Iran, the United Arab Emirates, and potentially Saudi Arabia.
The alignment of interests between BRICS+ and OPEC+ is no coincidence. Many of these countries are not only energy producers but also advocates of a multipolar global system that challenges the dominance of Western-led financial and political structures. Their growing collaboration aims to create alternative pathways for energy trade, finance, and governance. This includes settling transactions in local currencies instead of the U.S. dollar and investing in energy infrastructure that reflects the needs of the Global South.
A key example of this synergy is Brazil’s strategic entry into OPEC+ in 2023. As the world’s eighth-largest oil producer, pumping approximately 3.3 million barrels per day in 2024, Brazil brings substantial weight to the coalition. Its decision to join OPEC+ reflects a broader strategy of asserting leadership within the energy sector while aligning more closely with BRICS+ goals. It also deepens Brazil’s energy and security ties with the Middle East, reinforcing its role as a bridge between Latin America and the broader BRICS-OPEC energy axis.
China, the world’s largest energy importer, plays a central role in this new configuration. Its interest in stable, diversified energy sources has driven deeper cooperation with both BRICS and OPEC members. China’s Belt and Road Initiative increasingly includes energy infrastructure projects that link Asia, the Middle East, Africa, and Latin America—further entrenching the importance of South-South energy ties.
Together, BRICS+ and OPEC+ are laying the groundwork for a redefined global energy order—one in which the priorities and voices of the Global South play a central role. As the world transitions toward renewables and cleaner energy sources, these alliances are likely to influence not only oil markets but also the development of new energy technologies and governance frameworks.
In this shifting landscape, the collaboration between BRICS and OPEC is not just about oil—it’s about power, policy, and the future direction of the global energy system.
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