According to data from ANP, as a result of the spread of the coronavirus, the price of oil has been falling more and more on the international market.
According to data from the National Agency of Petroleum, Natural Gas and Biofuels (ANP), released last Friday (20), oil production in Brazil fell 6.2% in February compared to January this year. On average, around 2.971 million barrels of oil were produced daily last month.
Oil prices have been plummeting on the international market due to the coronavirus pandemic.
The country's natural gas production volume fell by 6.5% in February, an average of 129.8 million cubic meters per day (m3/day). Thus, oil and gas production totaled 3.788 million barrels of oil equivalent (BOE/day). This represents a drop of 6.2% compared to January.
In the country as a whole, Petrobras accounted for 72.3% of production, followed by Shell (12.4%), Petrogal (3.4%), Repsol Sinopec (2.4%) and Equinor (2%).
Refinery prices
On Thursday (19), Petrobras confirmed a 12% cut in the price of gasoline and 7.5% in the price of diesel at its refineries. As a result, this year the drop in gasoline totals 30.1%. And the price of diesel oil accumulated a drop of 29.1%.
The cut in fuel prices is happening at a time when oil prices are falling sharply as a result of the expansion of the coronavirus pandemic around the world and the slowdown in the global economy.
This week, the U.S. benchmark WTI crude oil lost 29%, the steepest since the start of the Gulf War in 1991. Brent crude, meanwhile, lost 20%. Both benchmark contracts have now fallen for four straight weeks.