Brazil oil production rises 20% in January to all-time high

Oil companies produced 3.17 million barrels per day (BPD) on average in Brazil in January, a volume 20.4% larger than seen in the same month a year earlier and an output record for the country, oil regulator ANP said. Natural gas production increased 22% over January 2019 to 138.7 million cubic meters per day on average last month, also a record. The deep water, pre-salt field known as Lula accounted for a third of all oil production, reaching 1.05 million BPD of crude on average in January.

Source: Reuters