Petrobras Ramps Up Top Oil Field and Adds to Global Glut

The Almirante Tamandare floating production and storage vessel in October.Photographer: Dado Galdieri/Bloomberg

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By Peter Millard and Mariana Durao

November 6, 2025 at 3:57 PM UTC

Updated on

November 6, 2025 at 11:05 PM UTC

Leia em português

Brazil’s state oil producer Petrobras is accelerating production from the world’s biggest deep-water field, helping the company raise dividends even as crude prices hover near a five-year low and the global market braces for glut.