BELIZE CITY, BELIZE (Aaron Simonsky, Energy Analytics Institute, 15.Jan.2025) — Brazil’s total liquids production averaged 4.1 million barrels per day (MMb/d) in Nov. 2024, down about 0.3 MMb/d compared to Nov. 2023, according to the Organization of the Petroleum Exporting Countries (OPEC).
OPEC expects Brazil’s liquids production, including biofuels, to average 4.2 MMb/d in 2024, virtually unchanged compared to 2023, OPEC said 15 Jan. 2025 in its Monthly Oil Market Report (MOMR).
2025 production estimate
Looking ahead to 2025, Brazil’s liquids production is expected to average 4.4 MMb/d, according to OPEC estimates.
The slight rise in Brazil’s liquids production in 2025 will be driven by production ramp-ups at the Buzios (Franco), Mero (Libra NW), Tupi (Lula), Marlim, Peregrino, Atlanta and Parque das Baleias fields.
“Oil project start-ups are expected at the Buzios, Bacalhau (x-Carcara), Mero (Libra NW), Wahoo and Lapa (Carioca) fields. Nonetheless, technical and operational issues could potentially delay the start-up of scheduled production from the platforms,” OPEC said.
2026 production estimate
Looking ahead to 2026, Brazil’s liquids production is expected to average 4.6 MMb/d.
OPEC expects upstream liquids production to increase through production ramp-ups in the Buzios (Franco), Mero (Libra NW), Marlim and Bacalhau (x-Carcara) projects.
“Oil project start-ups are expected at the Buzios, Albacora Leste and Pampo-Enchova Cluster,” OPEC said. “However, growing offshore development costs and inflationary pressure may continue to delay projects and moderate short-term growth.”
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By Aaron Simonsky reporting from Belize City. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
