Brazil extends crude oil export tax for 60 more days

AI Summary

Brazil extended its 12% tax on crude oil exports for another 60 days amid ongoing concerns related to the Iran conflict and high oil prices. The tax policy aims to adjust exports in a turbulent geopolitical and market environment.

Brazil’s government extended a 12% tax on crude oil exports for an additional 60 days. The levy was first introduced in March during a period of higher oil prices connected to the Iran war. The executive management committee of Brazil’s foreign trade chamber Camex, known as Gecex, made the decision and said it would review ...