Brazil’s Minister of Mines and Energy, Alexandre Silveira, said that Brazil plans to join the group of oil exporting countries (OPEC +) in January. This was reported by Reuters.
However, he added that in this case, Brazil will still not participate in the organization’s actions to limit oil production.
According to the agency, Brazilian President Luiz Inacio Lula da Silva received an invitation during his trip to Saudi Arabia. The Brazilian leader announced that the president has not yet given an official answer.
Reuters also does not know for sure whether Brazil will join OPEC+ as an observer or as a full participant upon accession.
OPEC+ alliance at the meeting on November 30 acceptance an additional reduction in oil production by 1 million barrels per day for all members of the organization.
According to experts, this decision was taken by the alliance to maintain control of the oil market.
Previously reported About India’s increase in purchases of cheap oil from Russia.