real-time news and commentary for investors
Tuesday, Sep 3
Petrobras crude oil production drops in July
- Petrobras (PBR) says its domestic crude oil output dropped 4.6% in July vs. June, reversing an increase in the previous month due to maintenance shutdowns at some of its oil platforms.
- Output totaled 1.88M bbl/day in July, down from 1.98M in June; output from overseas operations totaled ~116K bbl/day, down 19% M/M.
- PBR +1.4% premarket after yesterday's surge in Brazilian equities following manufacturing strength in China, Brazil's top trading partner.