Financial institutions estimate that Selic will slid from 6% to 5% by the end of the year.
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The Arab country now produces 630,000 per day, but the goal is to reach 690,000 barrels by the end of 2019. New discoveries will help.
Saudi Arabia’s state-run oil company released its first-half results for the first time. Net income was down 13%; free cash flow went up.
The Brazilian economy lost steam in Q2 from Q1, the Central Bank reported.
Brazilian state-owned company will focus its efforts in gas and oil exploration and production, said the company’s president Roberto Castello Branco.
Activity was down 1% in June from May in Brazil, and down 3.6% year-on-year in June, according to the Brazilian Institute of Geography and Statistics (IBGE).
Brazil shipped 7.9 million pairs, up 65% year-on-year. Revenues climbed 44% to USD 84.35 million.
Brazil saw USD 500 million invested in the industry in 2018, as per a report by the Federation of Industries of the State of Rio de Janeiro.
Out of 15 areas tracked by the Brazilian Institute of Geography and Statistics (IBGE), ten saw output go down last June.
The waterway connecting the Red Sea and the Mediterranean Sea yielded USD 6.3 billion for Egypt in the 2018-2019 fiscal year, which ended June.
The country saw 1.55 million units sold year-to-date through July. Foreign sales were down 38% during that.
Oil extraction averaged 2.5 million bpd during the month, down 6.4% from May and 1.3% from June 2018.
Net profit soared to an all-time high for Brazil’s state-run oil company, at BRL 18.9 billion.
Brazil ran a USD 2.3 billion surplus last month, the lowest for the month since 2010. Both exports and imports slid.
