Infographic: BRICS expansion creates oil producer, consumer supergroup

Expanding the BRICS group of nations to include the UAE, Iran and potentially Saudi Arabia could help to align the economic goals of members now controlling almost half the world's supply of crude with their key customers in Asia and lead to more downstream investment, analysts said Jan. 31.

The UAE and Iran have already committed to BRICS membership, joining a coalition that includes Russia, China, India and Brazil.

Related story: BRICS to discuss energy markets at Moscow meeting, with de-dollarization in focus

View full-size infographic (last updated 25 September 2024)