Brazilian Oil Exports This July More Than Doubled Those of July 2019

RIO DE JANEIRO, BRAZIL – Brazilian oil exports more than doubled in July to 8.19 million tons, compared to 3.76 million tons shipped in July 2019, according to data released by the Foreign Trade Secretariat, Secex.

The volume was the second-highest in 2020, behind the 8.4 million tons shipped in May, and it also approaches the monthly record registered in December 2019, when the country exported 8.5 million tons of oil.

In the first half of 2020, Brazil had already expanded oil exports to Asia. The country’s state-owned oil&gas giant Petrobras managed to increase fuel shipments by 65.4% during the second quarter, compared to the same period in 2019, as disclosed in July.

Revenues from oil exports last month, however, rose by only 14.7% to US$1.78 billion, limited by the depression of oil prices in the international market. The price of the commodity dropped 47.2% in July, to US$218 per ton, according to Secex, down from US$413.5 per ton a year earlier.

Source: MercoPress

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