The Brazilian government has approved the country’s accession to OPEC+, a group of the world’s leading oil-exporting nations. This move underscores Brazil’s growing influence as a major oil producer, just nine months ahead of the UN Climate Summit (COP30).
The approval follows an official invitation extended in 2023. OPEC+ consists of 12 core OPEC members, which coordinate oil production to stabilize global markets, along with 10 additional significant oil-producing countries, including Russia, the largest among them.
While non-OPEC members within OPEC+ cooperate with the cartel, Brazilian Minister of Mines and Energy Alexandre Silveira clarified that Brazil will not be obligated to cut production.
“OPEC+ is merely a forum for discussing strategies among oil-producing nations. We should not be ashamed of being an oil-producing country. Brazil must grow, develop, and create jobs and revenue,” Silveira stated.
Brazil ranks as the world’s seventh-largest oil producer, with an output of approximately 4.3 million barrels per day—around 4% of global production. In 2024, crude oil overtook soybeans as Brazil’s top export, accounting for 13.3% of total exports.
President Luiz Inácio Lula da Silva, who took office in 2023 advocating for environmental protection, has worked to curb deforestation in the Amazon and safeguard Indigenous rights. However, he has also argued that new oil revenues could help finance Brazil’s transition to green energy.
In recent weeks, Lula has pushed Brazil’s environmental regulatory agency to approve exploratory oil drilling near the Amazon River’s mouth, a region with some of the world’s richest biodiversity.
His push for increased oil production has sparked criticism as Brazil prepares to host the COP30 climate summit in November, where global leaders will focus on reducing fossil fuel dependence to combat climate change.
