The Brazilian state-owned oil major Petrobras' (NYSE:PBR) oil production dropped in the second quarter due to divestments along with an increase in work stoppages. The company's refinery utilization rate, however, was at a high of 97%.
In a recent securities filing, PBR mentioned that its crude production came to 2.114 million barrels per day (bpd), down by approximately 5.2% from the previous quarter and 5% from the year-ago period. During the period, the natural gas output came at 2.653 million barrels of oil equivalent per day (boepd), down 5.1% quarterly and annually.
