Gulf Oil and Gas accountACCOUNT

Brazil Oil Demand - April 2017

Source: OPEC 4/20/2017, Location: South America

Share |
In February 2017, oil demand in Brazil eased by 68 tb/d, or around 3% y-o-y. Total oil consumption in the country was 2.27 mb/d. The decline was led by fuel oil and ethanol, which eased by around 35% and 21% y-o-y, respectively. The reduction in fuel oil demand was on the back of strong hydropower usage, which dropped fuel oil demand in the power generation sector. With regard to transportation fuel, reduction in ethanol demand, a continuing trend, was due to a price rise of ethanol, which has reduced the productís competitiveness compared to gasoline, which continued to see growth in February.

Gasoline consumption increased during the month by a solid 45 tb/d, or around 6.0% y-o-y, mainly due to drivers with flex fuel engines taking advantage of gasoline being more competitively priced against ethanol. Diesel oil demand growth faded in February with a y-o-y drop of 22 tb/d. Total diesel consumption was at 0.91 mb/d. The primary reason for this slowdown is the drop-off in economic activities from a number of sectors, mainly the industrial and construction sectors, although latter have shown slight improvements recently. The other middle distillate fuel, jet/kerosene, witnessed slower momentum in February, with a drop of around 8% y-o-y driven by a weak Brazilian economy. However, demand for transportation fuels in general is expected to pick-up slightly in the 2H17 when the countryís overall economic condition is foreseen to improve.

Oil News in Brazil >>

Austria >>  11/13/2017 - Over the years 2014 through 2016, global oil inventories grew rapidly, as global oil supply outpaced world oil demand. During the same period, the cru...
Austria >>  11/13/2017 - World oil demand growth in 2017 was adjusted higher from the previous month by 74 tb/d, mainly to reflect better-than-expected data from China in 3Q1...

Austria >>  11/13/2017 - World oil supply in October increased by 0.53 mb/d m-o-m from the previous MOMR to average 96.71 mb/d, representing an increase of 0.17 mb/d y-o-y. ...
Austria >>  11/13/2017 - In October, preliminary data shows that US crude oil imports increased to average 7.7 mb/d, up by 564 tb/d from last month and an increase of 132 tb/...

Algeria >>  11/9/2017 - State energy company Sonatrach and Baker Hughes, part of GE (BHGE), will set up a joint venture and build an oil equipment plant in Algeria at a cost ...
Argentina >>  11/7/2017 - Oil consumption in Argentina was flat during the month of July 2017 at 0.72 mb/d, with mixed product performance. All transportation fuels were in pos...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Brazil Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 |

More News

 

Oil & Gas Companies in Brazil >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.