The administration announced the measure in a bid to address the international oil price slump. The country is highly dependent on oil exports.
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Saudi oil company reported last Tuesday (10) it would produce 12.3 million bpd starting April but increased its projection to 13 million barrels on Wednesday (11).
Company reported to the Saudi stock exchange on Tuesday (10) it would increase output starting April. Gulf markets rebounded.
The state-run oil company signed a contract transferring ownership of areas in Bahia, Brazil to Eagle.
Saudi announcement to cut productions and increase oil production made oil prices to plunge, impacting equity markets, which were already oscillating due to fears regarding coronavirus.
The Organization of Oil Exporting Countries suggested its members to reduce output. The goal is maintaining prices in a scenario of lower demand due to the coronavirus.
The disease outbreak has slowed down manufacturing in China, which is expected to reflect on countries it has economic relations with.
The items the Gulf country purchases from abroad the most are iron ore, aluminum oxide and four-wheel drive automobiles.
Company shipped 238,000 barrels of fuel oils a day in February.
Four public hearings will be held to disclose details regarding 22 Brazilian airports.
Such was the hike in 2018/2019 from the preceding fiscal year, driven by the petroleum industry. The administration expects industry to be a major driver of GDP growth this year.
Sales of the Brazilian government bonds to natural persons USD 464 million in January, a year-on-year decrease.
Financial institutions polled by the Brazilian Central Bank expect inflation to be 3.20% this year in Brazil, down from last week’s 3.22% estimate.
Partnership with the Energy Research Office aims at connecting opportunities in the energy industry to potential investors and businesspeople.
