The Brazilian government on Monday assured the United States it will increase its oil production, a decision that could help ease concerns over global crude supply after Russia’s invasion of Ukraine.
Bento Albuquerque, Brazil’s Minister of Mines and Energy, said he had spoken with his US counterpart, Secretary of Energy Jennifer Granholm, and confirmed that Brazil would seek to increase its oil output.
“She asked me if Brazil could be part of this effort (to produce more oil), and I told her ‘Of course it can’. We are already increasing production, while most OECD countries have reduced it. We have increased our production in the last three years,” Albuquerque said in a note sent by the ministry to AFP.
During the conversation, Granholm explained that other countries were making similar decisions to avoid greater volatility in the global oil market. The Ministry of Mines and Energy did not provide any further details about how much it intends to increase production or on what timeline.
Source: eNCA
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