Petrobras Resumes Production at Tupi Field FPSO After Safety Shutdown, Set to Restore Tens of Thousands of Barrels Per Day

Core Insights - Petrobras is recognized as one of the best high-volume stocks to buy according to Wall Street analysts, with a recent report indicating the resumption of offshore production at the Tupi field, which may contribute to a global supply glut and keep crude oil prices around $60 per barrel [1][3]. Production Resumption - The floating production vessel Cidade de Angra dos Reis has resumed operations after completing maintenance and compliance work mandated by Brazil's National Agency of Petroleum, Natural Gas and Biofuels (ANP) [2][3]. - Prior to its shutdown due to safety concerns, the FPSO produced 43,951 barrels per day in January [2]. - The resumption of production at the Tupi field is expected to restore output by tens of thousands of barrels per day, returning to pre-shutdown levels, with plans to optimize the subsea network for sustained flows [3]. Company Overview - Petrobras operates in the exploration, production, and sale of oil and gas both in Brazil and internationally, structured into three segments: Exploration & Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies [4].