Brazil to reach oil self-sufficiency next year, explores other sources

Brazil will achieve its long-sought goal of oil self-sufficiency next year, Mines and Energy Minister Silas Rondeau said Tuesday.

Latin America’s biggest country, an oil importer for decades, now produces about 1.73 million barrels of oil a day and projects year-end consumption of 1.85 million barrels a day. But next year, Brazil will produce more than it uses.