Brazil's Ministry of Development, Industry, Trade and Services said the Foreign Trade Chamber's Executive Management Committee approved a 60-day extension of a 12% export tax on crude oil, effective July 10. The levy was first imposed in March as par

2026-07-10

Brazil's Ministry of Development, Industry, Trade and Services said the Foreign Trade Chamber's Executive Management Committee approved a 60-day extension of a 12% export tax on crude oil, effective July 10. The levy was first imposed in March as part of fuel-price stabilization measures, including diesel subsidies, after Middle East tensions pushed up global oil prices.