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Brazil to Become a Member of OPEC+ Alliance of Major Oil-Exporting Nations.

International | Dated: 21 Feb 2025

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.

🎯 Key Highlights:

  • - The National Council for Energy Policy (Conselho Nacional de Política Energética, 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.

💡 Other Important Facts:

  • (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.

📚 Test Your Knowledge:

Recently, Brazil has been approved to join which international alliance of major oil-exporting nations?

Correct Answer: OPEC+

🚀 Quick Recap:

About Brazil

  • President : Luiz Inácio Lula da Silva
  • Capital : Brasília