Brazil Cuts Oil Output Outlook, Fuel Imports to Continue

Brazil's oil regulator ANP cut its outlook for petroleum production in Brazil to 4 million barrels a day in 2025 or 2026 from 4.5 million barrels a day in 2022, the agency's director general Magda Chambriard said on Wednesday.

Chambriard, speaking to reporters in Rio de Janeiro, also said that she expects Brazil to be importing 400,000 barrels a day of vehicle fuels, primarily gasoline, in 10 years and that the ANP is studying a plan to renew some oil-rights concessions granted to state-run Petroleo Brasileiro SA early.


(Reporting by Jeb Blount)