Brazil is going to join OPEC in Jan 2024.

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Brazil is scheduled to join OPEC next year in January 2024.

This announcement was made at the 36th ministerial meeting of OPEC+. In this meeting, the Minister of Mines and Energy of Brazil participated virtually.

OPEC is a cooperative organization of oil-exporting countries. The price of oil and the amount of oil extraction are also determined in the meetings of this organization.

Brazil has large oil reserves. It is among the top 10 oil-producing countries in the world.

Increase in India’s oil import from Russia

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