Brazil must have 2nd largest oil production expansion outside of OPEC

Brazil should present the second highest rate of expansion of oil production next year outside of OPEC (Organization of Petroleum Exporting Countries), behind only the United States. The information was given by OPEC itself: "The USA, Brazil, Russia and the United Kingdom are the main drivers of growth next year, while Mexico and Norway are expected to present considerable decline," he said in a report.

The estimate is that the country supplies about 3,630,000 barrels of oil per day in 2019, before supplying 3,260,000 of bpd this year. "Depending on the political actions of the new government after the most recent elections, as well as the evolution of commodity prices, the growth forecast for 2019 can change," Opec said.

The Organization for Economic Cooperation and Development (OECD) assesses that the US has been able to grow at a higher rate than other economies, fueled by a strong fiscal stimulus. However, emerging and developing economies have been increasingly diversified, presenting high levels of growth, such as India and China, and while Russia and Brazil have achieved less growth.

On the offer outside of OPEC next year, the OECD points to strong growth due to the high rise in oil investments in the United States, as well as the gradual increase estimated with new projects in Brazil — mainly by the wave of Privatizations in the sector, strong attractive to the market.

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