Brazil Sets New Record in Oil Production, 50,000 Barrels Above Daily Demand

As Brazilian state-owned oil company Petrobras moves ever closer to its goal of petroleum production self-sufficiency for Brazil, it is now regularly setting new production records.

On Monday, December 19, a new record for the day was set of 1,857,425 barrels. That is 23,000 barrels more than the last record day on 23 June of this year.

And, most importantly, it is some 50,000 barrels above the country’s average daily demand (which is running at 1.8 million barrels daily). Petrobras says it intends to close out the month of December with average daily production above 1,850,000 barrels.

Petrobras explains its stellar performance this year by reporting that its production has been strong in older oil fields off the coast of the state of Espí­rito Santo, and "exceptional" in the Campos Basin (off the coast of the state of Rio de Janeiro) where the country’s largest and newer oil fields are located.

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