Commodity Market Report
Brazil product markets 2021 outlook to 2050
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
During 2020, demand for oil products in Brazil fell 6% due to the Covid-19 containment measures and we expect demand to recover to pre-pandemic levels from 2022. Despite the drop in demand, Petrobras maintained crude runs close to 2019 levels of 1.7 million b/d in 2020, with a 76% utilisation rate. Consequently, Brazil's historical product deficit narrowed from 328,000 b/d in 2019 to 244,000 b/d in 2020.
Table of contents
- Demand in Brazil to recover by 2022
- Petrobras continues the sales of its refining assets
- Brazil refined products deficit to widen in the long term
Tables and charts
This report includes the following images and tables:
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Brazilian car parc and gasoline demandProduct demandRefinery supply - IntakeProduct balances - all supply versus demand
What's included
This report contains:
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