New Brazil Production Adds to OPEC Headache



New Brazil Production Adds to OPEC Headache
A new Brazilian oil supply boom is poised to challenge OPEC's oil market balancing efforts.

“Apart from U.S. shale, there is nothing around the world like Brazil in terms of supply” of crude oil, former Petrobras geologist and oil consultant Pedro Zalan said from Rio de Janeiro. “Reserves are huge and pre-salt productivity is enormous.”

To contact the reporters on this story: Sabrina Valle in Rio de Janeiro at svalle@bloomberg.net;Javier Blas in London at jblas3@bloomberg.net

To contact the editors responsible for this story: Will Kennedy at wkennedy3@bloomberg.net, ;Simon Casey at scasey4@bloomberg.net, Christine Buurma, Reg Gale

©2019 Bloomberg L.P.

 

 

 


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