Petrobras Shatters Oil Output Records in Q2 2026

Petrobras, Brazil's state-controlled oil producer, reported record-breaking oil output for Q2 2026. The company achieved an all-time high of 3.34 million barrels of oil equivalent per day (boepd) in combined oil and natural gas output.

This milestone was driven by the expansion of volumes from Petrobras' deep-water pre-salt reservoirs, as well as the commissioning of additional offshore platforms. The company's net income for Q2 2026 reached R$52.4 billion (approximately US$10.4 billion), fueled by increased production and firmer Brent prices.

Petrobras-operated crude production in Brazil averaged 2.7 million barrels per day, a 15% increase from the same period last year. The company's export volumes rose to nearly 1 million barrels per day. Chief Financial Officer Fernando Melgarejo noted that the quarterly output milestones contributed to one of the strongest financial performances in Petrobras' history.

Petrobras invested R$26.7 billion (approximately US$5.3 billion) in capital expenditures during Q2 2026, with 82% allocated to exploration and production activities aimed at sustaining future growth. The company is pushing forward with key upstream initiatives, including the commissioning of new offshore platforms and the development of its pre-salt fields.