Brazil Oil Demand - April 2017

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

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 product’s 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 country’s overall economic condition is foreseen to improve.


Brazil >>  6/17/2022 - Petrobras, regarding the news published in the media, clarifies that by request of the Chairman of the Board of Directors, its Board of Directors held...
Canada >>  6/16/2022 - PetroTal Corp. is pleased to announce the following sales related update.

720,000 barrels of oil under contract for export from Bayovar. Ap...


United States >>  6/15/2022 - ExxonMobil released the following statement in response to a letter from President Biden.

We have been in regular contact with the adminis...

United States >>  6/14/2022 - The U.S. Department of Energy (DOE) announced the fourth Notice of Sale of 45 million barrels of crude oil from the Strategic Petroleum Reserve (SPR)....

Iran >>  5/31/2022 - The managing director of the National Iranian Oil Company (NIOC) here said there is no problem regarding oil debt collection. ...
Russia >>  5/31/2022 - EU leaders urged Russia to halt its indiscriminate attacks on civilians and infrastructure, as well as to evacuate all of its troops and military equi...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.