Brazil’s oil production is expected to undergo a significant increase in the coming years, reaching its peak by the end of the decade, establishing the country among the top global oil producers. It is estimated that within six years, production will reach 5.1 million barrels per day, a 50% increase from the current level, propelling Brazil from the ninth to the fifth position in the global ranking of oil producers. This growth will boost public revenues, and exports of crude oil are also projected to grow by 120%. However, after reaching the peak, production is expected to start declining due to the maturity of the explored fields, including the pre-salt reserves. To maintain reserve levels, it will be necessary to explore new areas, such as the Equatorial Margin. This increase in production is driven by significant investments and high oil prices, along with the ongoing global demand for fossil fuels, despite concerns about the energy transition.
Source: Valor Econômico / Datamar News