Posted: 08.12.2023 14:27:00

Brazil to join OPEC+ in January 2024

Brazilian Minister of Mining and Energy Alexandre Silveira de Oliveira said that the country will join OPEC+ from 2024, and the total number of member states will reach 24 then, TASS reports


As informed by Russian Deputy Prime Minister, Aleksandr Novak, in his talk with the Rossiya-24 TV channel, the decision was made during the recent ministerial meeting with the participation of representatives of 23 countries. “The Minister of Brazil was present, and he confirmed that, from January 1st, 2024, he will join our OPEC+ partnership, so 24 countries will accordingly co-operate to balance the market situation,” he said.

In a statement, OPEC said that the online meeting of OPEC and OPEC+ ministers was also attended by Alexandre Silveira de Oliveira, the Minister of Mining and Energy of Brazil. “The country will join the OPEC+ Declaration of Co-operation from January 2024,” it noted.

Currently, 23 countries are OPEC+ members, including the world's largest oil producers, Russia and Saudi Arabia. According to the Brazilian regulator, oil production in the country currently stands at over 3 million barrels per day.