Petrobras reports higher Q3 crude output

摘要

Rio de Janeiro—Brazil’s state-led oil company Petrobras increased its crude output in the third quarter amid continued growth from subsalt oil deposits, but also warned Friday that spending cuts could lead to a reduction the company’s 2020 production target. Petrobras produced an average of 2.136 million b/d in the third quarter, up 1.1% from the second quarter, and up 2.1% year-on-year, the company said in its earnings release.