Can Anything Stop Brazil’s Massive Oil Boom?

The COVID-19 pandemic had a sharp impact on oil prices, creating considerable uncertainty over the outlook for energy demand around the globe. The ongoing global crude oil supply glut and claims that peak oil demand could occur sooner than anticipated are also weighing on energy prices. Those headwinds have done little to impede Brazil’s massive oil boom. Growing demand for lighter sweeter crude oil grades from Asia, coupled with stronger than expected domestic demand for gasoline are buoying Brazil’s oil industry. China’s insatiable…