According to data released by the United States, the inventories of oil in the country grew less than expected
According to the U.S. Energy Information Administration, the oil inventories in the North American country grew less than the entire world expected. The epidemic caused by the new coronavirus is still the predominant factor in determining prices, considering that China reduced its acceptance of cargoes of commodity.
- Coronavirus congests ports in China, but Brazilian meat exports are not being compromised
- Government and Klabin sign tomorrow a contract for the exploration of an area for cellulose movement in Paraná
- Cargo ship carrying Vale’s ores that was headed to China is damaged and may sink off the coast of Maranhão
Several oil tankers, fully loaded with crude oil, are still waiting for a spot to unload. Positioned in Asian ports, the ships need to await and hope for a decongestion.
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A Brazilian municipality relies on 97% federal money, has 14 secretariats, 11 councilors, and a budget of R$ 131 million, but only 915 people are formally employed, and no one knows how the other 25,000 live.
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Argentina steps on the accelerator to become a power with a $20 billion agreement, immediate release of $1 billion, reserves above $5.5 billion, and a decrease in poverty to 28.2%.
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Hong Kong leads the ranking of the most expensive fuel in the world and is suffering from a global crisis.
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Giant refrigerator arrives in Ceará with a new factory to slaughter 1,000 cattle per day and promises to shake up the livestock industry in the state.
Another factor impacting the international oil market is associated with the government of Libya. Recognized by the United Nations, the government withdrew from peace negotiations with a rebel faction led by Khalifa Haftar, causing the interruption of oil production from the largest exporter in Africa due to the worsening of a civil war that has already lasted for a decade.
The National Oil Corporation of Libya reported that the country’s production fell to 1,200 barrels per day, down from 1.1 million bpd produced pre-crisis.
In the United States, oil inventories grew by 414,000 barrels in the last week, very different from the 2.5 million barrels that were expected. Gasoline inventories also alarmed, with a decrease of about 2 million barrels, versus 435,000 barrels expected. Distillates fell by 636,000 barrels, versus the expectation of 1.46 million barrels.
Additionally, in the country, gasoline consumption was five times higher than expected, and oil exports were around 600,000 barrels per day.

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