Petrobras Hikes 10-yr Oil Output Target

- June 3rd, 2011

Reuters reports that on Friday, Petrobras (SAO:PETR3) announced that the company will produce more than any at 6 million barrels of oil equivalent a day in 2020.

Reuters reports that on Friday, Petrobras (SAO:PETR3) announced that the company will produce more than any at 6 million barrels of oil equivalent a day in 2020.

The market news is quoted as saying:

The previous global estimate, announced in 2010, was 5.4 million barrels.

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