The increase in export volume already marks the shipments of the oil sector. Icomex data show that from January to August this year, average export prices of oil and oil products fell by 25% compared to the same months last year, while volumes grew by 25.4%. When considering only the shipments of crude oil, there was a 30% increase in volumes and a 23.8% decrease in the average export price in August compared to the same month of 2022. “Today, Brazil has a higher production than many OPEC [Organization of the Petroleum Exporting Countries] countries. And in a short time, it has become a relevant exporter in the international market,” said Helder Queiroz, professor at the Institute of Economics of the Federal University of Rio de Janeiro, and a former director of the National Petroleum Agency (ANP).
Sources: Valor Internacional/Datamar News