Brazil to Join OPEC+ Alliance Charter in Non-Binding Move
- The move is about cooperation and dialog, not output curbs
- Petrobras says OPEC+ knows it can’t join in with quotas
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Brazil will join the cooperation charter of the OPEC+ oil alliance, a move that won’t bind it to making production cuts.
Brazilian Energy Minister Alexandre Silveira told a meeting of the group on Thursday that the country would join its charter from next year. The charter, open to all oil producing countries, doesn’t bind signatories and provides a platform for dialog and exchange of views.