Petrobras Sets Record 2025 Output, Beating Production Targets on Pre-Salt Strength

Petroleo Brasileiro SA- Petrobras ( (PBR) ) has issued an update.

In 2025, Petrobras’ oil production averaged 2.40 million barrels per day, surpassing the upper limit of its 2025 guidance by 0.5 percentage points and marking an 11% increase on 2024 levels. Total oil and natural gas output reached 2.99 million barrels of oil equivalent per day, also 11% higher than in 2024, while commercial production rose to 2.62 million boed, with all three metrics setting new annual records in the company’s more than 70-year history. The company achieved record pre-salt volumes, with own production of 2.45 million boed and operated production of 3.70 million boed, so that pre-salt now accounts for 82% of total production. These results, disclosed on January 15, 2026, were driven by the start-up of two new FPSOs in the Santos Basin pre-salt (Almirante Tamandaré in Búzios and Alexandre de Gusmão in Mero), the production peak of FPSO Marechal Duque de Caxias, continued ramp-up of other FPSOs in Jubarte, Marlim and Voador, and higher operational efficiency across units. Petrobras also highlighted that operated production in the Búzios field reached 1 million barrels per day with only six platforms, underscoring the field’s high productivity and reinforcing the company’s strategic reliance on pre-salt assets for future growth and operational scale.

The most recent analyst rating on (PBR) stock is a Buy with a $14.60 price target. To see the full list of analyst forecasts on Petroleo Brasileiro SA- Petrobras stock, see the PBR Stock Forecast page.

Spark’s Take on PBR Stock

According to Spark, TipRanks’ AI Analyst, PBR is a Neutral.

Petrobras scores well due to its strong financial performance and attractive valuation, particularly its low P/E ratio and high dividend yield. However, technical analysis indicates some bearish momentum, which could pose short-term risks.

To see Spark’s full report on PBR stock, click here.

More about Petroleo Brasileiro SA- Petrobras

Petróleo Brasileiro S.A. – Petrobras is Brazil’s state-controlled oil and gas company, operating across exploration, production, refining and related activities with a strong focus on deepwater and pre-salt fields, particularly in the Santos Basin. It is one of Latin America’s largest energy producers and a key player in the global offshore oil industry, with pre-salt output representing the bulk of its production portfolio.

Average Trading Volume: 20,628,477

Technical Sentiment Signal: Strong Buy

Current Market Cap: $79.1B

For an in-depth examination of PBR stock, go to TipRanks’ Overview page.