Petrobras Has Another Problem to Deal With: Oil

Petrobras hasn’t traded with oil prices for years, primarily because of the Brazilian government. In better times, it was because the government wasn’t allowing the oil giant to raise gasoline prices. In the worst of times, as in today, it is because of the bribery scandal known as “Car Wash”.

Politics aside, Petrobras has another problem: oil prices.

The price of oil is approaching levels where deep water drilling off the Brazilian Atlantic Coast is no longer…

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