Commodity Market Report
Brazil product markets long-term outlook H2 2020
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Report summary
Despite a 10.7% year-on-year decline in Brazil oil demand due to the covid-19 containment measures, Petrobras maintained crude runs close to 2019 levels of 1.7 million b/d in 2020 (with a 77$ utilisation rate). Thus, Brazil's historical product deficit narrowed from 417,000 b/d in 2029 to 205,000 b/d in 2020. Showing strong resilience at a moment where global margins suffer, Petrobras, Brazil's NOC, continues with its disinvestment plans.
Table of contents
- Brazil's path to demand recovery has already started
- Not even covid-19 can stop the sale of the Brazilian refining assets
- Brazil remains as a net importer in the long-term
Tables and charts
This report includes 3 images and tables including:
- Product demand
- Refinery supply - Intake
- Product balances - all supply versus demand
What's included
This report contains:
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