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Brazil oil strike risks Carnival fuel supply

From argusmedia.com

A nearly two-week strike by Brazilian oil workers could spark fuel shortages next week, just as Carnival season kicks off, labor federation FUP says. The FUP represents some 20,000 oil workers that launched the indefinite strike on 1 February in a bid to reverse state-controlled Petrobras' decision to suspend a fertilizer plant and to keep the company from divesting key assets. FUP blamed Petrobras for any potential fuel supply disruptions. Petrobras says the strike is politically motivated and runs afoul of a 2019 collective bargaining agreement. The company has said that crude and fuel production remains stable ... (full story)

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  • Category: Fundamental Analysis