Petrobras shares fall amid declining oil prices and economic uncertainty

Petrobras shares faced downward pressure due to a drop in international oil prices. On Friday, the stock fell 1.9 percent to a closing price of 7.67 euros. This follows a period where Brent crude prices saw significant declines.

Despite the stock volatility, Petrobras reported a production increase in the third quarter of 2026, reaching an average of 3.51 million barrels of oil equivalent per day, a 11.7 percent increase compared to the previous year. The company also announced a third oil-bearing layer discovery in the Morpho well within the FZA-M-59 block near Amapá.

To replenish stocks following refinery maintenance, Petrobras plans to import 600 million liters of diesel in November. Meanwhile, broader Brazilian markets remain sensitive to fiscal policy signals from President Luiz Inácio Lula da Silva and the central bank's decision to maintain the Selic interest rate at 13.75 percent.