A five-day strike by Brazilian oil workers that began early Monday has cut the production of Petroleo Brasileiro SA, or Petrobras by about 4 percent, according to the state-run oil company. Oil workers are striking at 33 rigs in a dispute over pay but only two rigs were totally stopped, Petrobras said.
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Oil Slid Below $145
Oil dropped below $145 a barrel Tuesday in Asia although a series of threats to supply in a finely balanced market
Oil dropped below $145 a barrel Tuesday in Asia although a series of threats to supply in a finely balanced market continues to keep a floor under prices.
The contract rose 10 cents in Monday's floor session to US$145.18 a barrel, just over a dime short of the all-time settlement high.
Threats to supply in Brazil, Iran and Nigeria have been keeping oil near the record levels hit last week.
A five-day strike by Brazilian oil workers that began early Monday has cut the production of Petroleo Brasileiro SA, or Petrobras by about 4 percent, according to the state-run oil company. Oil workers are striking at 33 rigs in a dispute over pay but only two rigs were totally stopped, Petrobras said.
A five-day strike by Brazilian oil workers that began early Monday has cut the production of Petroleo Brasileiro SA, or Petrobras by about 4 percent, according to the state-run oil company. Oil workers are striking at 33 rigs in a dispute over pay but only two rigs were totally stopped, Petrobras said.
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