On the sidelines of the Abu Dhabi International Petroleum Fair and Conference, Brazilian Minister of Mines and Energy Pinto Costa Lima Albuquerque said today that his country is not planning to join OPEC for the time being.

The Minister stated: "Right now there are no plans to join OPEC. But we continue to work with them in the form of cooperation. "

The Minister added that Brazil was the seventh largest oil producer and exporter in the world, following: "So we decided that we should have good relations with OPEC and OPEC Plus."

It should be noted that in October 2019, Brazilian President Jayr Bolsonaro said that he would like to see his country as a member of the Organization of Petroleum Exporting Countries (OPEC).

In his view, Brazil had the capacity to join the Organization, where it had significant oil reserves in its territory, yet there had been no efforts to move forward in that direction.