Tag: Global oil market

"The downgrade comes on the heels of robust oil consumption in 1Q25, up by 1.2 million barrels per day (mb/d) year-on-year – its strongest rate since 2023.”

Andon Pavlov, an analyst at Kpler suggested that this surge in refined product shipments allows oil producers to bypass crude production limits

The move formalizes an announcement made in November 2023 and marks a significant step for Brazil in global energy diplomacy.