Petrobras Pushes 2020 Output Cuts to 200,000 b/d

摘要

Brazilian oil giant Petrobras said it will reduce oil output by an additional 100,000 barrels per day this year, bringing total cuts to 200,000 b/d, a 7% decline from original guidance of 2.7 million barrels of oil equivalent per day. And more cuts could be on the horizon as the size and scale of the pandemic-related demand crash becomes clearer (OD Mar.27’20).