Commodity Market Report

Brazil product markets long-term outlook H2 2020

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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:

  • Document

    Brazil.xlsx

    XLSX 1.28 MB

  • Document

    Brazil product markets long-term outlook H2 2020

    PDF 1.00 MB