Brasília, Brazil, February 18, 2025 – Brazil’s government has approved joining OPEC+, a group of major oil-exporting nations, signaling a significant step in the country’s evolution into a prominent oil state.
The decision comes just nine months ahead of Brazil hosting the United Nations’ annual climate summit.
The National Council for Energy Policy granted approval in response to an official invitation received in 2023. OPEC+ comprises the 12 members of OPEC alongside 10 additional key oil-producing nations, with Russia being the largest among them. However, Brazil’s participation will be limited to the Charter of Cooperation—a permanent forum for discussion—without binding obligations such as production cuts.
“At this stage, our involvement is strictly as a forum for discussing strategies among oil-producing countries,” said Mines and Energy Minister Alexandre Silveira at a news conference. “We should not be ashamed of being oil producers. Brazil needs to grow, develop, and create income and jobs.”
Under the Charter of Cooperation, Brazil will be able to engage in dialogue with other members on industry-related issues but will not participate in decision-making processes regarding production policies. The move reflects Brazil’s broader objective to balance its economic growth and energy development with its commitments to environmental and climate-related initiatives.
As Brazil positions itself within the framework of OPEC+, industry analysts will be watching to see how this step impacts the country’s oil sector and broader economic strategy ahead of the upcoming UN climate summit.
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Donald Trump's cabinet members sent mixed signals on whether tariff talks with China are underway, despite Trump's claims, fueling confusion as market instability and recession fears grow amid ongoing tensions between the world’s two largest economies.
A deadly explosion at Iran’s Bandar Abbas port has left at least 40 dead, with more than 1,200 people injured, state media reported on Sunday, halting operations at one of the country’s most vital trade hubs.
U.S. Secretary of State Marco Rubio urged for a swift peace agreement between Russia and Ukraine, as the Trump administration decides whether to continue mediation.
Saudi Arabia and Qatar have agreed to settle Syria's $15 million arrears with the World Bank, allowing the institution to resume grants for the country's reconstruction and support for its public sector.
U.S. and Philippine forces shot down drones with Stinger missiles during joint military drills in Zambales, aimed at testing readiness amid rising tensions with China over the South China Sea. Over 14,000 troops are participating in the Balikatan exercises, which run until May 9.
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