“At the moment there are no plan to join OPEC. We continue to work with OPEC in a cooperative way,” he said, speaking on the sidelines of an energy conference.
OPEC groups top exporter Saudi Arabia and 12 other countries, including the United Arab Emirates. Since 2017, OPEC has had a deal with non-member producers, excluding Brazil, in a grouping known as OPEC+ to limit supply and support the market.
"We continue to hold meetings with Saudi Arabia and UAE," the minister said. "We understand that we have to have a good relationship with OPEC and OPEC+."
Brazil was the world's seventh largest oil producer in 2020, according to figures from the U.S. government's Energy Information Administration, pumping 3.79 million barrels per day.
If it joined OPEC, it would become the third biggest producer in the group, founded in 1960, and the most significant new member for years.
Brazilian President Jair Bolsonaro said in 2019 he wanted his country to join OPEC.
