Brazil has officially become a member of the OPEC+ Charter of Cooperation (CoC), a move confirmed by a statement from the Organization of the Petroleum Exporting Countries (OPEC). The decision was approved by the National Energy Council of Brazil, marking the country’s formal entry into the alliance.
“OPEC welcomes the decision approved today by the National Energy Council of the Federative Republic of Brazil, which officially paves the way for Brazil’s participation as a member of the Charter of Cooperation (CoC) between oil-producing countries,” the OPEC statement read.
This move follows an announcement made in November 2023, during a ministerial meeting where OPEC+ confirmed Brazil’s cooperation with the group, effective January 1, 2024. However, OPEC Secretary General Haytham al-Gais clarified that Brazil’s cooperation does not extend to the OPEC+ agreement on reducing oil production, known as the Declaration of Cooperation (DoC).