Key Market Indicators
Brazilian crude oil demand rose by 600 tonnes in March 2021 compared to the previous month. Moreover, the demand was 0.6% higher than the same period a year before. Since 2007, Brazilian demand has dropped by 1.4% year-on-year. By 2026, Brazilian crude oil production is projected to increase by 16,920 thousand tonnes of oil equivalent compared to 2021. This is an annual growth rate of 1.6%. Since 1976, the country's supply has grown by 1.8% annually. Brazil was the 10th largest producer in 2021, with Kuwait overtaking it to take the top spot. Saudi Arabia, the United States and Iraq ranked second, third and fourth respectively.
