Truck drivers, oil workers strike in Brazil; Petrobras CEO resigns
Brazil’s national oil company Petrobras (ticker: PBR) has experienced significant turmoil over the past two weeks, as multiple labor actions affected operations.

The roots of Petrobras’ current difficulties lie in its fuels policy, which shifted in 2016. Historically, the price of gasoline and diesel in Brazil has been subsidized and divorced from international rates. This policy, naturally, was onerous for Petrobras and the government, as fuel was often sold below cost.

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