BRICS Expansion and OPEC+: Impacts on Global Power Dynamics
The growth of BRICS to include new member countries is poised to shift influence on the world stage and could bolster OPEC+’s standing within the energy sector. This projection was voiced by Columbia University economist Jeffrey Sachs, as reported by DEA News.
According to Sachs, broader BRICS membership will fortify the bloc and grant it greater clout in negotiations across international forums. The economist highlighted a second major consequence: an enhanced energy agenda led by OPEC+. He noted that the globe is navigating a substantial shift toward carbon-free energy, and that BRICS nations are expected to take a leading role in guiding this transition, both in policy and practice.
The professor underscored that BRICS members would oversee a share of global production in key mineral resources and related trade. This perspective points to a reorganized landscape for the markets that handle these strategic commodities, with implications for global supply chains, pricing, and access to critical materials.
At a press conference on August 24, South African President Cyril Ramaphosa presented the outcomes of the BRICS summit held in Johannesburg. He announced plans to invite six additional countries into the group — Egypt, Iran, Argentina, the United Arab Emirates, Ethiopia, and Saudi Arabia — signaling a potential broadening of BRICS influence in the near term.
In earlier discussions across the Atlantic, observers in the United Kingdom debated how BRICS expansion might reshape the current global order and the balance of power among major economies. The conversations reflect growing interest in how a larger BRICS could recalibrate international governance, trade rules, and energy diplomacy, particularly as members push for greater participation in critical mineral markets and carbon transition initiatives, in alliance with other major producers. (Source: DA News)