Petrobras refineries operate near maximum capacity to counter global fuel supply strains.
Certain units ran at 103% capacity during April and May.
The company redirected over 60% of its crude exports to Asia, primarily China.
This shift captures higher premiums from buyers avoiding Middle East shipping risks.
Petrobras' Brazilian-listed shares (PETR4) fell 2.43% on Monday.
The decline erased R$16.5 billion in market value.
A 6.78% drop in global Brent crude prices to $93.42 drove the stock down.
Diplomatic progress in U.S.-Iran negotiations triggered the oil price decline.