Brazilian oil exports more than doubled in July to 8.19 million tons, compared to 3.76 million tons shipped in July 2019, according to data released by the Foreign Trade Secretariat, Secex.
Brazil's oil and gas giant Petrobras during the month of Maye exported 1.11 million tons of fuel oil, surpassing the previous record set in February 2020 by 10%. The amount of fuel oil exported was 231% above the volume exported in May last year.
Petrobras set a new oil exports record of 1 million BPD in April, as domestic demand plunged, the Brazilian state-controlled oil firm said on Monday, days after a large group of other oil producers, OPEC+, began a 9.7-million-BPD collective cut aimed at rebalancing the market.
Ecuador on Sunday said it had resumed crude oil exports curbed by violent protests that forced several wells in the Amazon to halt operations.
Venezuelan oil exports fell by 17% in May compared to April, due to the difficulty to sell barrels of heavy crude oil that US refiners used to buy and process before the sanctions imposed on the Nicolás Maduro government, reported Reuters.
India and Argentina inked ten agreements including in defense, agriculture, space, pharmaceuticals, Antarctic cooperation, agriculture, IT and nuclear cooperation. Indian Prime Minister Narendra Modi and Argentine President Mauricio Macri, accompanied by a high-level official delegation and around 100 top industry representatives of Argentine companies held bilateral talks on Monday.