Brazil to join OPEC+ - Breaking The News

Brazil to join OPEC+

18 February

1 min read

EPA-EFE/ISAAC FONTANA

Brazil's National Council for Energy Policy on Tuesday approved joining the OPEC+, a group of major oil-producing countries, after Brazil received an official invitation in 2023.

After joining OPEC+, Brazil will have no binding obligations, such as production cuts, and will be able to manage and explore its natural resources in line with its interests, the country's Mines and Energy Minister Alexandre Silveira said at a press briefing.

"We should not be ashamed of being oil producers. Brazil needs to grow, develop, and create income and jobs," Silveira stated as Brazil is set to host the United Nations annual climate summit in November.

oil production opec+

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