Brazil breaks key oil production milestone.

Brazil's crude oil production in November topped 3 million barrels per day for the first time ever, the National Petroleum Agency reported, adding that total oil and gas production rose to 3.95 million barrels of oil equivalent daily - also a record-breaking figure.

The strong output result came on the back of ongoing ramp-up of production at eight new floating production, storage, and offloading facilities, SandP Global Platts reports, citing ANP data. The ramp-up added more than 100,000 bpd to the country's total production between October and November. The annual increase in production exceeded 20 percent.

The presalt zone has become the main...