Brazil’s Oil Output Hits Record as War Drives Up Non-OPEC Supply

By Charles Gorrivan (Bloomberg) – Oil production in Brazil reached a record high in June as rising supplies from producers a world away from the Middle East cushion disruption from the fallout of the war in Iran. 

Crude production rose about 19% from a year earlier to 4.5 million barrels a day in June, according to regulator National Agency of Petroleum, Natural Gas and Biofuels or ANP. That’s up roughly 4% from May. Total oil and natural gas production reached 5.8 million barrels of oil equivalent a day.

Rising production from Brazil and other producers has