Oil exports by Brazilian energy giant Petrobras fell by 28.5% in the second quarter of 2022, to 531,000 barrels per day (b/d), compared to the same period a year ago, the company said in its quarterly production and sales report. The news comes when the country is looking for cheaper opportunities to import diesel fuel from countries currently free of sanctions.
Brazil’s government on Tuesday slightly raised its 2019 economic growth forecast and said the worst for the economy is probably behind it but showed no sign it is willing to ease up on its commitment to austerity and strict fiscal discipline.