Brazil's Oil Industry Scale Up Production, Looks to Growth

CORDOBA, ARGENTINA--December 1, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--After surpassing this year's expectations for oil production, Brazil is pushing for a further increase in volumes, aligning Petrobras' strategy with Brazil's goals for 2025 and 2030. Brazil's production averaged 2.8 million barrels per day (BBL/d) in 2023, with peaks in June and July ranging from 3 million to 4 million BBL/d.