Market Size of Brazil Oil and Gas Upstream Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Brazil Oil and Gas Upstream Market Analysis
The Brazil oil and gas upstream market market is expected to register a CAGR of over 4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, increasing oil and gas exporation and production are expected to drive the growth of the market studied.
- On the other hand, the volatile nature of crude oil prices are expected to hamper the growth of Brazil oil and gas upstream market during the forecast period.
- Nevertheless, Brazilian government has a target to be the world's top five oil and gas producers are likely to create lucrative growth opportunities for the Brazil oil and gas upstream market in the forecast period.
