Brasilia, Brazil
AP
—
Brazil’s government on Tuesday approved joining OPEC+, a group of major oil-exporting nations, signaling the country’s evolution into a major oil state just nine months ahead of hosting the United Nations’ annual climate summit.
The National Council for Energy Policy’s approval came in response to an official invitation in 2023. The group includes the 12 members of OPEC, the longstanding group set up to coordinate oil production to stabilize markets, plus 10 more significant oil-producing nations with Russia by far the largest.
Though non-OPEC members agree to cooperate with OPEC nations, Brazil won’t have any binding obligation…
