Brazil is Back

21 Apr 2017: Brazil is South America’s undisputed energy powerhouse.  The country is a large energy consumer and producer.  It is the third largest economy in the Americas, behind the United States and Canada.  The Brazilian economy and its energy sector went through a rough period from 2014 through 2016 as domestic political turmoil coincided with a sharp drop in commodity prices (including oil).  However, Brazil’s real GDP, which declined in both 2015 and 2016, is expected to turn around in 2017 and economic growth is forecast to accelerate in 2018.  Crude oil production and exports have been on a tear lately with Brazil recording record output in both January and February of this year.  This increase in activity has also benefited the tanker industry as more tankers are employed to move Brazilian crude over longer distances. Please fill out the following form to access the full article.