Brazil seeks greater oil market influence
Despite environmental criticism, President Lula sees opportunity to build bridges with OPEC+ allies
Latin America’s largest oil producer welcomed in the new year as the newest recruit to the OPEC+ alliance with oil output booming and ambitions to help shape global pricing. The government boasted almost 20% annual production growth heading into December and has ambitions to make the country the fourth-largest oil producer by 2030. Surging domestic production is at the heart of Brazil’s recent admission into OPEC+. The pact recognises the country’s increasing influence, particularly as pre-salt oil ramps up, while the Brazilian government also wants to build tighter economic and political relations with the world’s largest exporters. “OPEC+ membership would allow Brazil to forge closer ties

Also in this section
28 May 2025
The country may have the resources, but sanctions and a lack of market access make its gas ambitions look very questionable
28 May 2025
Saudi Arabia and US relations can construct a new ‘field of dreams’, but opportunism may be the new rules of the game
28 May 2025
A shortage of options for the development of port infrastructure to service oil and gas majors is a stumbling block the country needs to overcome to fulfil its potential
27 May 2025
Country is boosting domestic energy production while targeting development of oil and gas reserves in Africa and Asia