Brazil to Become a Member of OPEC+ Alliance of Major Oil-Exporting Nations.
International
In February 2025, Brazil's government approved its membership in the Organization of the Petroleum Exporting Countries Plus (OPEC+), a coalition of 22 major oil-producing nations, marking a significant milestone for the country. Brazil was officially invited to join in 2023.
- The National Council for Energy Policy (Conselho Nacional de PolĂtica EnergĂ©tica, CNPE) authorized this move, reinforcing Brazil’s position as a key player in the global oil market.
- This decision comes ahead of Brazil hosting the 30th United Nations Climate Change Conference (COP30) in November 2025.
- As of January 2025, OPEC+ consists of 22 member countries.
Main Point :- (i) Brazil's participation in OPEC+ is limited to the Charter of Cooperation (CoC), a forum for oil-producing countries to discuss production strategies.
(ii) Brazil is the 7th-largest oil producer globally, producing approximately 4.3 million barrels per day, which accounts for 4% of global oil output. In 2024, crude oil became Brazil's top export, contributing 13.3% to the country's foreign sales, surpassing its soy exports.
(iii) OPEC+ is a coalition of OPEC members and 10 non-OPEC oil-producing nations that collaborate on oil production targets to influence global prices. Formed in 2016, it includes countries like Russia, Mexico, and Malaysia, with Russia being the largest non-OPEC member.
About Brazil
President : Luiz Inácio Lula da Silva
Capital : BrasĂlia
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