Brazil will join OPEC+, group of oil-exporting nations, months before hosting UN climate summit [Video]

Brazil’s government on Tuesday approved joining OPEC+, a group of major oil-exporting nations, signalling the country’s evolution into a major oil state just nine months ahead of hosting the United Nations’ annual climate summit.

The National Council for Energy Policy’s approval came in response to an official invitation in 2023. The group includes the 12 members of OPEC, the longstanding group set up to co-ordinate oil production to stabilize markets, plus 10 more significant oil-producing nations, with Russia by far the largest.

Though non-OPEC members agree to co-operate with OPEC nations, Brazil won’t have any binding obligation such as production cuts, Mines and Energy Minister Alexandre Silveira said at a news conference.

The participation will be limited to the Charter of Cooperation, a permanent forum for OPEC and OPEC+ countries to discuss industry-related issues. The South American country will not participate in decisions.

Silveira called the charter merely “a forum …