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The potential spin-triplet heavy-fermion superconductor UTe₂ exhibits signatures of multiple distinct superconducting phases. For field aligned along the b axis, a metamagnetic transition occurs at μ₀H_m ≈ 35 T. It is associated with magnetic fluctuations that may be beneficial for the field-reinforced superconductivity surviving up to H_m. Once the field is tilted away from the b towards the c axis, a reentrant superconducting phase emerges just above H_m. In order to better understand this remarkably field-resistant superconducting phase, we conducted magnetic-torque and magnetotransport measurements in pulsed magnetic fields. We determine the record-breaking upper critical field of μ₀H_c2 ≈ 73 T and its evolution with angle. Furthermore, the normal-state Hall effect experiences a drastic suppression indicative of a reduced band polarization above H_m in the angular range around 30^◦ caused by a partial compensation between the applied field and an exchange field. This promotes the Jaccarino-Peter effect as a likely mechanism for the reentrant superconductivity above H_m.