Brazil’s Oil Output Hits Record as War Drives Up Non-OPEC Supply

By Charles Gorrivan (Bloomberg) – Oil production in Brazil reached a record high in June as rising supplies from producers a world away from the Middle East cushion disruption from the fallout of the war in Iran. 

Crude production rose about 19% from a year earlier to 4.5 million barrels a day in June, according to regulator National Agency of Petroleum, Natural Gas and Biofuels or ANP. That’s up roughly 4% from May. Total oil and natural gas production reached 5.8 million barrels of oil equivalent a day.

Rising production from Brazil and other producers has helped fill the gap left by reduced exports from the Middle East, where fighting between the US and Iran has disrupted shipping through the Strait of Hormuz. Before the conflict, about a fifth of the world’s oil flowed through the vital waterway. The war upended expectations for an oil surplus this year led by output from outside the Organization of the Petroleum Exporting Countries.

State-controlled Petrobras has led the way in pumping the extra barrels from Latin America’s largest economy. The company is working to pull as much crude from its fields as possible, pushing its offshore platforms at Búzios and other deep-water fields to produce above their designed capacities.

Petrobras-operated fields accounted for about 87% of total output, alone or in consortium, according to ANP. Búzios was the largest oil-producing field, while Mero produced the most gas. 

Output of oil and equivalents has remained above 5 million barrels a day, even as it has declined somewhat from June highs, according to daily production data from ANP.

© 2026 Bloomberg L.P.

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