PBR oil output-May was up 2.2% vs. Apr-14 and 4.4% YoY.
From the Merrill Lynch site: "Domestic crude output up 4.4%, led by 8.8% YoY pre-salt rise
Petrobras dom. crude output of 1,975 kbpd in May was up 2.2% vs. Apr-14 and
4.4% YoY, though below est. Though a notable improvement in trends from the
prior month, the improvement was despite continued repair/maintenance, this time
at the Marlim Sul field, which lowered production by an avg. of 24kbpd during June.
Absent this, domestic crude production would have risen 5.7% YoY"....
What is keeping this stock down today?
it is published under notices and facts. Taking into account that pbr still forsees average domestic production growth of 7.5% +-1 means this year a new record for the compnay will be reached. Last record was 2.7311 in Jan 2012
big move from $10.20 to $15.85.. first pullback to $13.62.. this pullback $15.98 to $14.36 and it has the same negative news bombardment that the beginning of the year had.. only this time it is having very little to no effect.. people like Luma, Tsun and Mucho are like crickets in the woods.. last time they created FEAR this time not so much because who ever bought PBR $10 - $13 has turned off the noise and are waiting for TIME and PRICE.. this time next year we will all be pleasantly surprised, happy and will be holding onto mucho denaro!