Member access

4-Traders Homepage  >  Commodities  >  WTI SPOT       

WTI SPOT

252
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
05:46pDJPemex Says Mexico Is Confident of U.S.'s Swap Approval
05:41pDJPemex Official Says Mexico Is Confident of U.S.'s Approval on Oil Swap
05:28pDJMexico Plans to Cut Scope of Shale Tenders
03:27pDJOil Prices Weaken Slightly
12:36pDJHarvey Miller, Bankruptcy Law Pioneer, Dies
12:29pDJOil Wavers as Traders Assess U.S. Supply Outlook
05:27aDJASIA MARKETS : Chinese Stocks Rally On State-firm Merger Report
02:03aDJOil Sustains Month-Long rally, Brent Trades Over $65/Bbl
04/24DJOil Prices Retreat
04/24DJOil Prices Retreat on Oversupply, Stronger Dollar
Advertisement
Chart
Duration : Period :
WTI SPOT Technical Analysis Chart | 4-Traders
Dynamic quotes  
ON
| OFF