Brasilia [Brazil] : Brazil does not plan to join the Organisation of the Petroleum Exporting Countries (OPEC) at the moment, but is determined to interact with it in the format of cooperation, Brazilian Minister of Mines and Energy Bento Costa Lima Albuquerque said on Wednesday. “At the moment there are no plans to join OPEC. But we continue to work with them in the format of cooperation,” the minister said on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference. He stressed that Brazil is the seventh largest oil producer and exporter in the world. “Therefore, we decided that we must have good relations with OPEC and OPEC+,” the minister added. In October 2019, Brazilian President Jair Bolsonaro said that he would like to see his country in OPEC. In his opinion, Brazil has capacity to join the organization, since there are large oil reserves on its territory. However, such statements have not been followed through.
