Brazil to have 3rd greater growth in oil production
O Estado de S. Paulo
Brazil will have the third greatest oil production growth until 2035, and by then it should be producing 5 million barrels a day. That is the estimate of the International Energy Agency (IEA). According to the IEA, only Saudi Arabia and Iraq must overcome the increase in the extraction of oil in the Brazilian territory. "Our forecast is that the Brazilian production doubles in the next 10 years, until 2020", says Fatih Birol, Chief Economist of the IEA. "Until 2020 the growth will already be very significant, reaching 4 million barrels."
In the opinion of Birol, the resources from the oil may help in the development of the country. "There is no doubt the pace of economic growth will the sped up and Brazil will be able to take further steps in the social area, as long as it uses the resources obtained with the exports efficiently". The organization foresees 18% growth in the global demand for oil until 2035, reaching 99 million barrels a day. That growth will be driven by emerging countries, like Brazil, China and India, which are not members of the Organization for Economic Cooperation and Development (OECD). Consumption should fall 6% in the 31 OECD member countries. For Birol, the world is moving towards the increase of the hegemony of the Organization of the Petroleum Exporting Countries (OPEC). In such scenario, Brazil plays a central role in the supply of the demand. Among the 13 countries that will feature greater production growth, only Brazil, Kazakhstan, and Canada do not belong to the OPEC.