BRICS Dominance Over Oil Supply Sparks Tensions Among Member Nations

The BRICS alliance has emerged as a dominant force in the global energy market, controlling approximately 41 to 47 percent of the world's crude oil supply and nearly half of the world's proven natural gas reserves.

This shift is significant, with members representing 25 percent of global nominal GDP and nearly half of the world's population convening in New Delhi amidst concerns over energy security and escalating tensions in West Asia.

The alliance faces complex challenges due to conflicting energy interests among its members. Exporting nations like Russia, Saudi Arabia, and Iran favor higher crude prices to maximize national revenue, while import-dependent nations like India and China seek affordable and stable energy supplies.