Brazil produced more than 3.1 million barrels of oil equivalent per day in May. Extraction in the pre-salt layer went up 15% and reached 1.15 million barrels a day.
Oil and Gas
Output was 2.83 million barrels on average, an increase of 5% over April and of 2% in comparison to May of last year.
On May 8, the Brazilian state-run oil company Petrobras surpassed 1 million oil barrels of oil equivalent (oil and natural gas) per day extracted in the pre-salt layer.
The advice comes from the International Monetary Fund to the Arab countries. According to the fund, the need is urgent due to oil’s low prices.
Such is the amount the Brazilian state-run oil company could save each year as a result of restructuring measures. Shareholders approved the plan last Thursday (28th).
The institution has revised up from USD 37 to USD 41 its projected average for the price of a barrel this year. Even so, commodity prices as a whole are seen to fall short of 2015 levels.
The Organization of Petroleum Exporting Countries asserts that ‘concern’ regarding the economies of Latin America and China is one of the reasons that led to forecasts being revised down.
The company’s production averaged at 2.65 million barrels of oil equivalent per day, which ws less than in December, due to scheduled rig maintenance shutdowns.
Brazil’s National Petroleum, Natural Gas and Biofuels Agency said importation slid 74.5% in January 2016 from January 2015.