Petrobras is sticking with its plans to expand oil production, along with other international oil majors including Exxon Mobil Corp., Chevron Corp. and Shell Plc, despite a decline in crude prices during April and a decision by OPEC+ to crank up output in June. Unlike US shale operators who need more than $60 a barrel to cover costs, Petrobras’s breakeven price is $28 a barrel.
