Petrobras, Brazil’s state-controlled oil giant, has reached a production milestone amid global energy market turmoil triggered by the Iran war. In the third quarter of 2026, the company boosted output to a record high, operating its refineries at near-full capacity to mitigate disruptions.
According to a filing released on Wednesday, Petroleo Brasileiro SA reported a 12% year-over-year increase in oil and gas production, hitting 3.51 million barrels of oil equivalent per day. Compared to the second quarter, production rose by 5.3%, driven by the activation of new deep-water platforms, including the P-78 and P-79 units at the massive Buzios project.
The surge in production comes as the Iran war continues to shake global energy markets, causing widespread disruptions. Petrobras’ strategic ramp-up in output has helped Brazil navigate these challenges, ensuring a steady supply of energy despite the geopolitical tensions.