Brazilian oil exports increase by 40%
The Secretariat of Foreign Trade (Secex) reported, last Monday (11), that the export of oil from Brazil reached about 308 thousand tons per day in the first week of May, having an increase of 40.4% compared to the same period last year. What
explains the result is that even with the impacts of the new coronavirus, Petrobras is counting on strong demand from China and in April, the state exported a record volume of oil.
Commodity prices, on the other hand, have fallen almost 50% compared to May 2019, at a time when commodity futures contracts are at multi-y
ear lows. Exports of iron ore and its concentrates reached approximately 1 million tons a day in early May, versus 1.36 million in the same period last year, while the price was down nearly $1 million to $64.3 per tonne.
