Get all your news in one place.
100's of premium titles.
One app.
Start reading
Barchart
Barchart
Ebube Jones

Is Brazil's Biggest Oil Stock a Value Buy Right Now?

Brazil, known for being the ninth-biggest oil producer globally and the largest in South America, is now the 14th - and newest - member of the OPEC+ group of oil-producing nations. The move will become official as of January 2024, and immediately raised questions over whether Brazil would follow suit with fellow OPEC+ peers Russia and Saudi Arabia by slashing production.

This decision is a game-changer for both the global oil market and Brazil's oil industry, and it's set to bring the share of global oil production controlled by OPEC+ up to 62%. But what could it mean for Brazil's oil behemoth, Petroleo Brasileiro SA (PBR) - better known as Petrobras?

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.