Key Market Indicators
Demand for crude oil in Brazil rose slightly in March, reaching 7.3 million metric tons – up 0.6% compared to the same month a year earlier. Despite this growth, demand has dropped 1.4% since 2007. Meanwhile, production of crude oil in Brazil is expected to reach 159 million tonnes of oil equivalent by 2026, growing 1.6% year on year. Since 1976, supply has increased by 1.8%. In 2021, Brazil ranked 10th in terms of output, behind Kuwait, Saudi Arabia, the United States and Iraq.
