Brazilian President Luiz Inacio Lula da Silva
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
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
