Brazil's Petrobras P-66 FPSO in the Santos basin
Brazil rides a production wave
Latin America’s largest economy expects big uptick in crude this year with the imminent arrival of several FPSOs
Brazil’s crude production is set to rebound strongly in 2025 after dipping slightly in 2024. Output averaged 3.5m b/d last year as a sharp fall at the Tupi field, the largest in the Santos Basin pre-salt, together with an almost 15% slump from the post-salt, resulted in a minor decline. Pre-salt production has continued to ramp up offshore Brazil and 2025 is likely to be similar. The Brazilian Petroleum and Gas Institute (IBP) estimates output will increase by 6% in 2025, rising to 3.6m b/d for the full year, the direct result of several offshore production systems reaching startup. OPEC expects Brazil to be among the main growth drivers of the global oil market in 2025. “The Brazilian
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
