Brazil to join OPEC+ group as of January 2024
It has been announced that Brazil will join the OPEC+ group, which consists of the Organization of the Petroleum Exporting Countries (OPEC) and several non-OPEC producer countries, as of January 2024.
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The 36th OPEC and non-OPEC Ministerial Meeting, held online to assess market conditions, has concluded with the participation of energy and oil ministers from the 13-member OPEC, led by Saudi Arabia, and 10 non-OPEC oil-producing countries, led by Russia.
In a written statement issued by OPEC, it was noted that the participation of Alexandre Silveira, Brazil's Minister of Mines and Energy, in the meeting was welcomed, as Brazil will join the OPEC+ alliance starting in January 2024.
The statement confirmed the ongoing commitment of the participating countries to ensure a stable and balanced oil market.
The statement also shared the information that the 37th OPEC and non-OPEC Ministerial Meeting will be held in Vienna on June 1, 2024.