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Latin Times

Politics

Paula Celestino

Brazil's Road to 8th-Largest Economy in 2027: What the IMF's October Forecast Means for Oil

International Monetary Fund Brazil Oil Economy China Petrobras GDP Italy Russia

Aerial view of the Floating Production Storage and Offloading Vessel (FSPO) "Cidade de Itaguai" oil platform, operating at Santos basin exploration unit of Pre-Salt in Itaguai, about 150 miles (240 km) off the coast of Rio de Janeiro, Brazil on November 10, 2017. - Anchored in water 7,350 feet (2,240 meters) deep, the "Cidade de Itaguai" platform defies nature's most primal forces -- and what until recently were considered humankind's own limitations. These so-called pre-salt fields contain vast crude oil reserves but at incredibly hard to access depths, requiring a combination of high-tech and simpler things, like extremely long, strong pipes. The oil platform is operated by Brazilian oil company Petrobras and Japanese oil company Modec. (Credit: Photo by MAURO PIMENTEL / AFP) (Photo by MAURO PIMENTEL/AFP via Getty Images)

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