Brazil’s state-owned oil operator Petrobras announced today that it will decrease oil production by a further 100,000 barrels per day, on top of last week’s cuts, in an attempt to “strengthen resilience” after the drop in demand during the Covid-19 pandemic.
“As of today, oil production will be cut by 200,000 barrels per day, a volume that includes the reduction announced on 03/26/2020,” the company’s statement says.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Petrobras will also ensure that “the duration of the constraint, as well as potential increases or decreases, will be continually evaluated.”
