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 >>

United Arab Emirates >>  7/26/2017 - The United Arab Emirates will import the country's first oil cargo from the United States, two sources familiar with the matter said, as the OPEC prod...
United Arab Emirates >>  7/25/2017 - Abu Dhabi National Oil Co (ADNOC) has cut its crude allocations by 10 percent for September for the majority of its customers, an ADNOC spokesman said...

Iran >>  7/19/2017 - India's state refiners plan to buy less Iranian oil in 2017/18 compared with the last fiscal year, Oil Minister Dharmendra Pradhan said on Wednesday. ...
Mexico >>  7/19/2017 - Mexican liquids production in 2017 is expected to witness a significant decline, dropping by 0.17 mb/d to average 2.30 mb/d. Mexican crude oil product...

Saudi Arabia >>  7/13/2017 - Saudi Arabia is trying to support oil prices by reducing its crude shipments to the United States in a bid to cut the amount of oil in commercial stor...
Austria >>  7/12/2017 - The world economy is forecast to expand at 3.4% in 2018, the same growth as in 2017. This reflects a continued improvement in the global economy. Give...

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.