Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Commodities  >  WTI SPOT       

Real-time Quote. Real-time  - 02/12 10:00:00 am
27.71 USD   +2.29%
02/12DJOil Prices Soar 12.3% on Hopes of Production Cuts
02/12DJOil Prices Soar From 13-Year Low on Hopes of Production Cuts
02/12DJOil Prices Soar From 13-Year Low on Hopes of Production Cuts
SummaryQuotesChartsNewsAnalysis 
News SummaryAll news 

Brazil Seen a Net Oil Exporter Again Next Year

04/11/2014 | 06:05am US/Eastern

PARIS--Brazil expects to become a net oil exporter again next year and double its production in the medium term, the country's oil regulator said Friday.

The news comes as other American producers--such as the U.S. and Canada--are also ramping up supplies to markets, threatening the market share of African and Middle East oil nations.

Speaking at the Petrostrategies oil conference in Paris, Helder Queiroz, the director of Brazil's National Petroleum Agency, said the country had become a net importer of oil in the past two years because of declining production from its most mature fields. But he said the oil producer was expected to become a net exporter next year thanks to new production--for instance from its fast-developing offshore fields.

Mr. Queiroz also said the country's oil production was expected to double by 2022 from about 2 million barrels a day barrels today.

React to this article
Latest news on WTI SPOT
02/12DJOil Prices Soar 12.3% on Hopes of Production Cuts
02/12DJOil Prices Soar From 13-Year Low on Hopes of Production Cuts
02/12DJOil Prices Soar From 13-Year Low on Hopes of Production Cuts
02/12DJOil Prices Soar From 13-Year Low on Hopes of Production Cuts
02/11DJNymex Oil Futures Rebound From 12-Year Low
02/11DJBANK OF RUSSIA'S NABIULLINA : Low Oil Prices Add to Inflationary Pressure
02/11DJNymex Crude Slips Below $27 a Barrel--Update
02/10DJNYMEX Crude Slips Below $27 a barrel
02/10DJOil Retreats as Total Stockpiles Keep Growing
02/10DJOil Retreats Despite Surprise Drop in Inventories
Advertisement
News chart
Full-screen chart