|Bid||14.56 x 4000|
|Ask||14.56 x 2900|
|Day's range||14.40 - 14.75|
|52-week range||7.86 - 15.31|
|Beta (5Y monthly)||1.09|
|PE ratio (TTM)||3.52|
|Forward dividend & yield||2.93 (20.19%)|
|Ex-dividend date||22 Nov 2023|
|1y target est||16.35|
Brazil is expected to join the OPEC+ group of oil-producing countries in January but would not take part in the group's coordinated output caps, the chief executive of state-run oil firm Petrobras told Reuters. The group's surprising announcement on Thursday that the South American nation would join it raised immediate questions on whether Brazil would take part in the production caps, as OPEC+ nations agreed to voluntary cuts approaching 2 million barrels per day (bpd) for early next year. "There is no quota," Jean Paul Prates said in an interview.
Brazil hopes to join the OPEC+ group of oil-producing countries in January after a technical analysis of the charter for cooperation, the country's energy minister said on Thursday, although the nature of Brazil's participation remained unclear. President Luiz Inacio Lula da Silva's office confirmed receiving the invite during his trip to Saudi Arabia, but said he had not formally responded. The president's office and the Mines and Energy Ministry did not say whether Brazil would participate as an OPEC+ observer or as a full participant in the group's shared production quotas.
Petrobras, Shell, TechnipFMC and Northern Oil and Gas are included in this Analyst Blog.