Brazil Extends 12% Crude Oil Export Tax for 60 Days Starting July 10

According to Jin10, Brazil's executive management committee of the External Trade Board decided on July 9 to extend the 12% crude oil export tax for an additional 60 days, effective July 10. The tax was originally implemented in March as a temporary measure to mitigate the impact of international oil price volatility on the domestic economy and fuel market, following regional geopolitical tensions that had driven up global crude prices.
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