BRAZIL’S OIL OUTPUT GROWS FOR FIFTH CONSECUTIVE MONTH IN MARCH, SAYS ANP

Brazil’s oil production rose for the fifth straight month in March, reaching 3.621 million barrels per day (bpd), up 3.8% from February and 7.9% year-on-year, driven by pre-salt exploration, according to ANP. Petrobras led with 2.23 million bpd, while Shell followed with 385,750 bpd. Natural gas output hit 165.53 million m³/d, rising 4.3% from February and 15% over March 2024, though less than a third was made available to the market. The country’s total oil and gas production reached 4.662 million barrels of oil equivalent per day (boe/d), led by record pre-salt production of 3.716 million boe/d—a 10.9% year-on-year jump.
Source: Nova Cana