Oil exports from Brazil hold firm in the first week of 2021

Brazilian oil exports registered an average of 387.3 thousand tons per day in the first week of the year, more than 100% above the average reported forJanuary last year, according to data released by the Ministry of Economy on Monday.

In January 2020, foreign oil sales from Brazil totaled an average of 191.9 thousand tons per day.

The value obtained for oil, however, dropped to U$284.5 per ton in the first week of 2021, compared to U$ 404.6 per ton in January 2020, according to the folder, amid pandemic impacts on the commodity market. .

The increase in sales volume occurs after Brazil reported a record in oil exports last year, in view of an advance in production in the Brazilian pre-salt layer and the expansion of new foreign companies in Brazil besides Petrobras.

Brazilian oil exports last year reached 70.6 million tonnes, up 18.5% compared to 2019, with countries like China taking advantage to purchase large quantities at lower prices – in revenue, shipments fell almost 19% to U$ 19.5 billion.

Petrobras reported last week that it registered a record for oil production in 2020. The state-owned company pumped 2.28 million barrels per day (bpd) in oil, surpassing the previous mark of 2015.

Source: Reuters

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