Prospects for a mild winter in Brazil, together with the country’s weakening economic situation, will hinder gas demand.
There is a 70% chance of above-average temperatures in Brazil during the winter (June-August). The effects of drought in the northern and northeastern parts of the country are also expected to dissipate over the period, which in turn will increase hydropower generation. Meanwhile, the country is in a deep recession that is reducing gas demand from the power and industrial sectors.
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