Directional impact on forecast:
Downbeat on Brazil’s gas and LNG demand
Just as it seemed the economic reforms of President Michel Temer were about to yield results, Brazil has once again become engulfed in a political crisis that could ultimately cost Temer his job. Economic reforms, including to the oil and gas sector, could be delayed, watered-down or shelved. This in turn will prolong economic weakness in the recession-hit country and deter investment in its upstream sector.
Temer became Brazil’s acting president in May 2016...