Petrobras (PETR4) shares advanced more than 2% on Wednesday, supported by a combination of record production data and rising global oil prices.
The Brazilian state oil major’s common shares (PETR3) also posted gains, tracking the broader strength in energy equities.
Petrobras shares had already climbed more than 2% on Friday, following a surge in global energy markets.
The rally comes as global crude benchmarks climbed, driven by persistent geopolitical risks in the Middle East.
Petrobras benefited from this tailwind, with investors responding positively to the company’s latest production figures, which were reported at record levels.
This marks a continuation of the recent upward trend for Brazilian energy stocks.
Petrobras shares had already climbed more than 2% on Friday, following a surge in global energy markets.