Oil production on the rise consolidates Brazil among the world's leading exporters. It reached 3 million barrels per day in 2022, marking a great moment in the domestic market.

With the growing expansion of oil production, Brazil is establishing itself this Monday, (14/08), as an influential player in the global scenario of exports and fuel market. The country's remarkable rise as a leading oil producer and exporter is driven by the sector's solid performance, especially in the oil market. pre-salt, in addition to the growth in oil prices in recent decades.

Brazil reaffirms itself as one of the world leaders in oil exports

Growing oil production in Brazil is playing a key role in consolidating the country as one of the main players in the international export market.

This growth not only strengthens the Brazilian economy, but also elevates the nation to a prominent level among the great nations of global trade.

With the continuous expansion of oil production, the prospects for Brazil in the international scenario become increasingly optimistic.

Experts predict that this upward trajectory will continue to contribute significantly to robust results in the country's foreign trade.

This positive scenario projects a substantial increase in foreign currency inflows, boosting the economy and providing valuable resources for producing regions through royalties.

In the year 2022, oil exports reached a historic milestone, registering an amount of US$ 42,5 billion in revenues in the Brazilian market.

This value represented a significant portion, corresponding to 12,7% of the country's total commercial transactions with foreign countries.

Oil consolidated as the country's second main export item, second only to soybeans, which registered US$ 46,5 billion in sales.

José Augusto de Castro, executive president of the Brazilian Foreign Trade Association (AEB), highlights the sustained growth trend in oil production.

He emphasizes that as the amount of oil produced increases and prices remain stable, the participation of this vital resource in the export basket tends to expand even more.

The oil export volume registered an increase of 1,7% in 2022 compared to the previous year, totaling 68,7 million tons.

This performance solidifies the oil sector as one of the main pillars for balancing the Brazilian trade balance, according to Adriano Pires, director of the Brazilian Infrastructure Center (CBIE).

Brazilian market changes in the face of advances in the global oil sector

Brazil, a country historically involved in oil-related political issues, demonstrates a notable shift in its global role in the sector.

A nation that previously carried the motto “O Petróleo é Nosso”, associated with the Vargas era, now stands out as the ninth largest oil producer in the world in 2022, being among the top ten exporters.

The exponential growth in oil production is partly attributed to the impressive performance of the pre-salt layer, a reserve of resources that has become a catalyst for advancing exploration.

The increase in oil prices over the decades has also contributed to the economic viability of exploration.

Pre-salt exploration, which accounts for approximately 75% of Brazil's total oil production, stands out for its operational efficiency and its ability to remain profitable even in times of lower prices.

Thus, what is expected for the national oil market in the coming years is a strong growth in production, as well as in exports of the product.