Bidness ETC | Brazil Sees Light Demand for Oil Block Auction Wall Street Journal The outcome of the auction wasn't surprising, given current conditions in world oil markets and the rules of the auction, said Adriano Pires, director of Rio-based consultancy Brazilian Infrastructure Center. “There's an abundance of oil in the world ... MarketsBrazil's first oil auction in 2 years a flop Brazil auction fails to attract bids from oil majors |