Petrobras Misses Profit Estimates Despite War-Driven Oil Rally

MarketsPetrobras Misses Profit Estimates Despite War-Driven Oil RallyFacebookXLinkedInEmailLinkGiftExpandOil storage tanks at the Petroleo Brasileiro SA, Petrobras Paulinia Replan Refinery in Paulinia, São Paulo, Brazil.Photographer: Maira Erlich/BloombergFacebookXLinkedInEmailLinkGiftGift this articleContact us:Provide news feedback or report an errorConfidential tip?Send a tip to our reportersSite feedback:Take our SurveyNew WindowFacebookXLinkedInEmailLinkGiftBy Peter MillardMay 11, 2026 at 11:32 PM UTCBookmarkSaveBrazil’s state-controlled oil company Petrobras fell short of earnings estimates as it held domestic gasoline prices stable during the war-driven price surge.Adjusted earnings before items, or ebitda, came in at 59.64 billion reais ($12.2 billion) for the first quarter, Petrobras reported in a filing. That fell short of the 64.5 billion reais consensus of analysts tracked by Bloomberg, and was down 2.4% from the same quarter of 2025. The company posted net income of 32.7 billion reais, above expectations.