On September 2, Petrobras rose 3.05% in regular trading, extending its recent rebound momentum. The rally was driven by multiple converging catalysts, including record-breaking production data, robust first-half earnings, and supportive crude oil prices.

According to the latest data from Brazil's National Petroleum Agency (ANP), July oil and gas output reached 5.9 million barrels of oil equivalent per day, with crude oil alone hitting 4.5 million bpd, up 13.6% year-over-year and marking consecutive months of record production. On the earnings front, the company reported first-half net income attributable to shareholders of $16.627 billion, surging 55.3% year-over-year, while total revenue climbed 35.7% to $57.14 billion. Second-quarter adjusted EBITDA came in at 93.84 billion Brazilian reais, exceeding market expectations of 91.37 billion reais. Additionally, Brent crude prices climbed back above $90 per barrel amid escalating US-Iran tensions, further bolstering oil equity sentiment. The company also recently completed an early redemption of approximately $1 billion in global bonds maturing in 2028, underscoring its financial strength.

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