Brazil’s President Jair Bolsonaro floated the idea of joining OPEC during a visit to Saudi Arabia. Appearing at the so-called “Davos in the Desert,” Bolsonaro expressed interest in OPEC. “I personally would very much like Brazil to become a member of OPEC. Yes, I think the potential is there. We have enough reserves, oil reserves. Actually larger oil reserves than some current OPEC member countries.” he said in Riyadh. He added that he would have to consult with his economy and energy ministers on the idea, however. The prospect of Brazil joining OPEC would mean another major global oil producer coming under the umbrella of the cartel, adding some 3 million barrels per day (mb/d) to the group’s collective output. The South American country would become OPEC’s third largest producer if it joined. “It is the first step for maybe putting in place this policy in Brazil,” Bolsonaro said […]