Brazil - 02

Brazil: Tensions Persist After Nationwide Strike

On 23 November Petrobras noted that its operations are now returning to normal after most labor union agreed on Friday to end the largest strike in the sector in decades. The strike, led by the FUP, the umbrella organization that includes most labor unions in the oil sector, had begun on 29 October. According to Petrobras, approximately 2.9mn barrels of oil and 48.4 mcm of natural gas were not produced because of the strike. On 17 November Petrobras released that the strike was generating losses of roughly 100,000 bpd since early November, impacting roughly 5% of the company’s production.

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