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11/30/2023, 4:14 PM (Source: TeleTrader)
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OPEC+ said to be planning to add Brazil

Brazil will join the alliance between the Organization of Petroleum Exporting Countries and its partnering nations, known as OPEC+, Energy Intelligence's Amena Bakr reported on Thursday. The move will take effect in January 2024, according to the report.

Notably, OPEC members Iran, Saudi Arabia and the United Arab Emirates were among the countries that were invited earlier this year to join BRICS, the group that includes Brazil, Russia, India, China, and South Africa. The new countries are also expected to join BRICS in the first month of 2024. Meanwhile, Brazil is set to take over the presidency of the Group of 20 on December 1, 2023.

Baha Breaking News (BBN) / MS