Brazilian oil chief: unlikely to join OPEC soon

Brazil is unlikely to join the Organization of Petroleum Exporting Countries anytime soon, despite overtures from the cartel, the head of the nation’s state-run oil company said Thursday.

Petrobras CEO Jose Sergio Gabrielli told The Associated Press that his company isn’t yet a big enough oil exporter to warrant joining the organization.

“To join OPEC, I think a country should have a very big export-oriented policy. The Brazilian case isn’t like that,” Gabrielli told the AP on the sidelines of the World Economic Forum on Latin America.
Forbes