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Marat Aslan
25 January 2024
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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

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27 May 2025
Country is boosting domestic energy production while targeting development of oil and gas reserves in Africa and Asia

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