WASHINGTON, Feb 19 (KUNA) -- The Brazilian government announced its approval to join OPEC+ Charter of Cooperation.
The Brazilian Mines and Energy Minister Alexandre Silveira said in a press conference, on Tuesday, that while Brazil has agreed to join, it will not be obligated to reduce production.
Silveira emphasized that the decisions highlighted Brazil's growing role in the global oil and gas market, adding that the country will continue developing its energy policies in line with its national interests.
As South America's largest oil producer, Brazil reached a daily output of 4.32 million barrels in 2024, accounting for about four percent of global production, according to the US Energy Information Administration.
The OPEC+ Cooperation Charter aims to enhance dialogue and technical collaboration between OPEC and non-OPEC oil producers to ensure global oil market stability. (end) amm.ahm