Petrobras Oil Output Hits Record as Most Peers Reel From Crash
- Brazilian giant posts production of 2.3 million barrels a day
- Most comes from pre-salt fields being ramped up for years
Petrobras’s P-70 production and storage vessel moves through the Guanabara Bay in the outskirts of Rio.
Photographer: Dado Galdieri/BloombergThis article is for subscribers only.
Petrobras wrapped up 2020 with record oil production just as most of its peers reeled from the worst crude-market crash in history.
In a year that brought the U.S. shale industry to its knees, the Brazilian state-run giant pumped an all-time-high 2.3 million barrels a day of crude, according to a statement Thursday. That’s about the same as OPEC member Kuwait.