Commodity Market Report

Brazil product markets 2021 outlook to 2050

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29 July 2021

Brazil product markets 2021 outlook to 2050

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 4 images and tables including:

  • Brazilian car parc and gasoline demand
  • Product demand
  • Refinery supply - Intake
  • Product balances - all supply versus demand

What's included

This report contains:

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    Brazil product markets 2021 outlook to 2050

    PDF 1.13 MB