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Brazil’s Oil Production and Economic Growth: OPEC’s Optimistic Outlook
OPEC maintains a positive view of Brazil’s economic potential and oil production capacity. The organization’s monthly report, released Monday, reveals promising projections for the country’s future. Brazil is expected to be a major contributor to global oil supply, ranking fourth behind the United States, Canada, and China. This forecast highlights Brazil’s growing importance in the […]
Surge in Oil Prices: Global Demand Dynamics
On May 13, 2024, the oil market witnessed a significant rebound, with prices climbing due to increased demand from the world’s leading consumers, the United States and China. This uptick erased the $1 per barrel decrease observed in the previous session. West Texas Intermediate (WTI) futures rose by 1.1% to $79.12 a barrel, while Brent […]