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Does Brazil send crude oil to opec for refining? I’d thought refineries would be hungry for oil when opec decreases production and therefore be a net benefit f
by wodenokoto 3y ago
Does Brazil send crude oil to opec for refining?
I’d thought refineries would be hungry for oil when opec decreases production and therefore be a net benefit for oil producers outside opec.
- londons_explore 3y agoIt might be a net benefit, but distributing that wealth from oil producers to oil users within Brazil isn't easy. And when oil users see the price of their oil going up, that's what triggers inflation.
- wodenokoto 3y agoBut would that change if it was refined within the borders?
- londons_explore 3y agoOnly if you also closed the borders, so that the internal and external prices were insulated from eachother.