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Brazil, OPEC, and a New Oil Market

By Bruno De Nicola, Senior Reporter

RIO DE JANEIRO - Brazilian increases in oil production, along with Russia, is threatening the OPEC's (Organization for Petroleum Exporting Countries) control over oil prices. The current view of petroleum reserves may be deceptive as production, and most of all exportation, seem to be the determinant variable of the oil market equation.

Brazil has been invited several times to become a member of the OPEC and never accepted. President Lula has other plans for a country which industrial future is set to grow rapidly.

According to official charts from the CIA World Factbook, in . . .

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