VIENNA: Brazil will join OPEC+ from 2024, the oil alliance announced on Thursday. As per AFP, Brazil is among the top ten producers across the world and has been the largest oil producer in Latin America since 2016.
Pricing agency Argus Media stated that its crude production hit a record around 3.7 million barrels per day in September, about 17 percent surge from the same month last year and around 6.1 percent increase from August.
Brazil will Join OPEC from Next Year: Report
Ministers of the 13-member Organization of the Petroleum Exporting Countries (OPEC) were meeting to discuss further output cuts to improve prices in global markets.
In a press release, the OPEC stated that the meeting welcomed the Minister of Mines and Energy of Brazil, which will join the OPEC+ by January 2024. In the most recent sessions amid dropping prices, OPEC+ members have announced voluntary decrease to boost prices.
