Brazil becomes the newest OPEC+ member

Brazil has joined the Organization of the Petroleum Exporting Countries and its allies (OPEC+) as an official member.

PHOTO: OPEC's headquarters in Vienna. Getty Images

Brazil’s Mines and Energy Minister Alexandre Silveira announced the country’s decision to join the oil producers’ group.

The South American nation has been a key non-OPEC producer, alongside the US, Canada and Guyana. But this dynamic is set to shift with its entry into the Saudi Arabia-led OPEC+ coalition, even though it is not obligated to adhere to the alliance’s production cuts.

With Brazil’s addition, the OPEC+ alliance now comprises 13 member countries.

By Aparupa Mazumder

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