Reshaping Global Energy Policy Through BRICS+ and Seeking a New Equilibrium in Energy Markets

Abstract

BRICS+ countries (Brazil, Russia, India, China, South Africa, and the recently expanded bloc of Ethiopia, Saudi Arabia, UAE, Iran, and Egypt) hold significant potential to reshape global energy policy. This expanding alliance is positioned to become a decisive force in the supply of traditional energy resources such as oil and natural gas, particularly given the inclusion of energy-rich nations. With Russia and Saudi Arabia—two of the world's largest energy producers—as well as major energy consumers like China and India, BRICS+ is poised to drive a new equilibrium in energy markets. Enhanced cooperation and increased trade volumes among the bloc members can foster a more balanced distribution of energy resources both regionally and globally. This study analyzes the role of BRICS+ countries in global energy policy and examines the potential impact of these evolving power dynamics on energy markets. Notably, it highlights BRICS+ leadership in renewable energy investments and the global energy transition.