MercoPress. South Atlantic News Agency

Brazil announces plans to join OPEC+

Brazilian authorities announced Tuesday the South American country's decision to join the Organization of 13 Petroleum Exporting Countries (OPEC) and 10 observer nations, commonly referred to as OPEC+. According to Mines and Energy Minister Alexandre Silveira, the move would in in line with Brazil's goals and would not collide with its environmental commitments. Brazil will participate in the OPEC Cooperation Charter, a forum for discussing oil market strategies without binding obligations to follow cartel policies like production cuts. Read full article