Brazil Looks To Snag Market Share In World’s Fastest-Growing Oil Market

With state-controlled Petrobras working to increase its oil output and export, Brazil is looking for new options to diversify its export market.  While exports of crude to China will continue to increase, having reached 1 million barrels per day (bpd) in April this year, Brazil is interested in finding other options for its growing supply, with a focus on Asia. Petrobras is aiming to produce more bpd to meet this growing demand. The move will also allow Petrobras to minimize its dependence on China.  “We expect this to have a positive…