Brazil's oil production hits record in 2023

Brazil's average oil production in 2023 reached a record high of 3.402 million bpd, up 12.57% from 2022.

Natural gas production reached a record 150 million cubic metres per day (m³/d) last year, about 8.7% more than the previous year.
Adding up oil and natural gas production, Brazil's production averaged 4.344 million barrels of oil equivalent per day (boe/d), up 11.69% from the previous record reached in 2022. This is reported by Brasil 247, a partner of TV BRICS.

This is the first time the country's annual average production has reached above 4 million barrels of oil equivalent per day.

Of the total, pre-salt fields accounted for 3.304 million boe/d, representing about 75.18 per cent of national production.

In the last month of the year, oil production averaged 3.585 million bpd, down 2.5 per cent from November 2023 and up 16.6 per cent from the previous December.

Gas production in December averaged 156.618 million m³/d, down 3.4% from the previous month and 11.8% higher than the same month in 2022.

Photo: IStock