Oil exports from Brazil sets record for the second consecutive year

For the second consecutive year, Brazil had record oil exports in February. According to government information, the strong growth momentum of commodity production in the pre-salt, made the sales volume abroad in 2017 was twice higher than in the same month last year.

Ministry of Industry Data, Foreign Trade and Services, showed that exports totaled 6.23 million tonnes in February, up 94% compared to the same month of 2016 and an increase of 12% compared to January of this year. The production in the country amounted to 2.687 million barrels per day (bpd) in January, according to the ANP, which has a high of 14.2%. Of the total produced, 47% out of the pre-salt.

With these oil exports in the month of February, Brazil quadrupled revenue compared to the same month of 2016, totaling 2.073 billion dollars, obtaining even a recovery 17% higher than in January this year. The type of oil that has been more profitable is the pre-salt, however, new types of Brazil oil are also already taking place in markets such as Peru, Uruguay and Chile.

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