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BRASILIA, Brazil — Brazil’s government on Tuesday approved joining a group of major oil-exporting nations, OPEC+, signaling the country’s evolution into a major oil state just nine months ahead of hosting the United Nations’ annual climate summit.
The National Council for Energy Policy’s approval came in response to an official invitation in 2023. The group includes the 12 members of OPEC, the longstanding group set up to coordinate oil production to stabilize markets, plus 10 more significant oil-producing nations, with Russia by far the largest.
Though non-OPEC members agree to cooperate with OPEC nations, Brazil won’t have any binding obligation, such as production cuts, Mines and Energy Minister Alexandre Silveira said. — Associated Press