Brazil to Stay Out of OPEC to Make the Most of Output Expansion
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Brazil, which became a net oil exporter last year, wants to expand its footprint in global energy markets without joining OPEC.
The South American nation 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 auctions for oil and natural gas licenses.