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Brazil Crude Production Slips 3.5% m/m to 3.536mbpd in October

OIL

Brazil: October oil production was at 3.536mbpd according to ANP figures, -3.5% m/m, +9.2% y/y.

  • Strong Brazil production this year has strongly contributed to non-OPEC supply growth that is weighing on oil prices into late 2023.
  • See chart for historical production levels.

Source: ANP

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