Brazil Oil Extraction Industry Outlook 03/2021

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.

Brazil Oil Extraction Market Data and Forecasts

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