Brazil Set to Join the Influential OPEC+ Oil Producers' Alliance
According to Brazilian Energy Minister Alexandre Silveira, Brazil will join the influential OPEC+ oil coalition that unites some of the biggest crude-producing nations in the world.
According to Brazilian Energy Minister Alexandre Silveira, Brazil will join the influential OPEC+ oil coalition that unites some of the biggest crude-producing nations in the world.
The announcement was made last week during a postponed OPEC+ meeting to discuss oil output strategy over 2024, amid languishing prices weighed by fragile demand recovery in China, geopolitical risks and uncertainty over supplies from U.S.-sanctioned OPEC members Iran and Venezuela.
Silveira said that President Lula da Silva had approved his country's membership, starting next year. “I would like to conclude my words by informing you that the honorable President Lula confirmed our entry into the OPEC+ cooperation charter from January 2024,” he said.
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