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Last March, the U.S requested Brazil to increase its crude oil output to curb soaring prices.
Resulting of international sanctions against Russia, oil prices have sharply risen. In light of the current fuel crises across the globe, the U.S requested Brazil last March to increase its crude oil output.
According to Tuesday's media reports, the Latin American country has rejected Washington's request. The reports have revealed that in light of the rise in oil prices resulting from Russia’s military operation in Ukraine and the ensuing international sanctions, the U.S officials contacted Brazil’s state-run oil company Petrobras to start an approach.
Petrobas said that output levels were dictated by business strategy rather than diplomacy, adding that a short-term production boost would not be logistically possible.
Washington has approached Venezuela as well, offering to ease some sanctions in exchange for increased oil exports to the U.S., but later backtracked the proposal.
Brazil stands in the world’s 11th largest oil exporter ranking, exporting most of its crude going to China, the U.S., and India.
Jennifer Granholm, U.S. Energy Secretary, said that the country was on “war footing” and calling on domestic producers to boost output, as earlier in March, the U.S. administration banned Russian oil imports.