Oct. 20 (Bloomberg) -- Petroleo Brasileiro SA, Brazil's state-controlled oil company, faces an ``almost impossible'' task in meeting its year-end oil production goal, analysts at Banco Itau Holding Financeira SA said.

The company's record oil output of 1.89 million barrels a day in September was below expectations, analysts Paula Kovarsky and Diego Mendes said in an e-mailed report to investors.

That will make it difficult for Petrobras, as the company is known, to meet its year-end production goal, the analysts said. The analysts said Petrobras provided ``guidance'' for year-end oil output of 1.95 million barrels a day. Company officials have said they hope to produce about 2 million barrels a day by the end of the year.

To contact the reporter on this story: Jeb Blount in Rio de Janeiro at jblount@bloomberg.net

Last Updated: October 20, 2008 10:36 EDT