Brazil receives informal request to join OPEC

Brazil's president Jair Bolsonaro said the country received an informal request to join OPEC, following a conversation with Saudi Crown Prince Mohammed Bin Salman.

Speaking at the Future Investment Initiative forum in Riyadh, Bolsonaro said he "can certainly talk about" it, adding that Brazil’s oil and gas reserves were bigger than some of the current OPEC members.

"Personally I would like very much for Brazil to become a member of OPEC," the Canadian Press cited him as saying.

In the next few years, Brazil will be the sixth largest oil producer in the world, he added. Brazil is currenty the 12th largest.