Brazil’s Rio de Janeiro-based oil concern Petróleo Brasileiro S.A. - Petrobras (PBR) is one of the largest oil and gas producers in the world. It explores for, refines, and transports crude oil from producing onshore and offshore oil fields.
Shares of the vertically integrated oil and gas company have gained 19.6% in price over the past month and 20.9% over the past six months. Increasing prices of oil products in the domestic market and the company’s efforts to diversify its customer base have boosted its profitability. The stock hit its 52-week high of $12.93 on January 20.
