Daily Energy Report
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June 24, 2025
Chart of the Day
EOA: Brazil Crude Exports Remains Low
Summary
Brazil's crude oil exports in the first two months of Q2 are lower than in Q1, as shown in Figure (1). Despite rising production, it consistently falls below expectations.
EOA’s Main Takeaway
OPEC forecasts Brazil’s oil production to rise by 190 kb/d in 2025 and 170 kb/d in 2026. The IEA predicts Brazil’s crude production to increase by 290 kb/d in 2025 and 190 kb/d in 2026.
Two key points for readers: