Petrobras corta produção de petróleo com baixa demanda

Petrobras Cuts Oil Production Amid Low Demand

Written by Paulo Nogueira

Published on 02/04/2020 at 08:06

Updated on 02/04/2020 at 08:55

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Petrobras reported on Wednesday (01) that, due to the contraction in the demand for oil and derivatives, it has decided to adopt new measures that include a reduction in oil production, postponement of cash disbursement, and cost reduction.

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On April 1, 2020, Petrobras reduced its oil production by 200,000 barrels per day, a volume that includes the reduction announced by Petrobras at the end of March, when the company stated it would reduce a total of 100,000 bpd of its oil production by the end of March, due to excess supply of this product in the international market and the decrease in global demand for oil caused by the impact of COVID-19.

In determining the fields that will have their production reduced, Petrobras will take into account the market and operational conditions. The duration of the restriction, as well as possible increases or decreases, will be assessed continuously.

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Petrobras Cuts Oil Production Amid Low Demand

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