Brazil to Stay Out of OPEC to Make the Most of Increased Production

Brazil, which became a net oil exporter last year, wants to expand its footprint in global energy markets without joining OPEC.

RIO DE JANEIRO, BRAZIL - (Bloomberg) Brazil expects to be among the top-five energy exporters by 2030, and is tapping private investment to boost output, according to energy and mines minister Bento Albuquerque. It’s also working on making rules more favorable for investors in upcoming bids for oil and natural gas licenses.

“The idea is just to increase our production and to participate more in the international oil and gas market,” he said in an interview in New Delhi. “But this is not a plan for Brazil to join OPEC or any other association or group of oil and . . .

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