Shares sink and Petrobras monitors oil market

Through a statement, Petrobras said it is monitoring the oil market, which suffered a drop of more than 30% on Monday (9).

Around 10:53 a.m., common shares were 24.61%, at R$ 18.14, while the oil company's preferred shares fell 23.96%, to R$ 17.36. "Petrobras estimates that it is still premature to make projections about possible structural impacts on the oil and gas market associated with the recent and abrupt variation in oil prices, given that it is not yet clear whether the intensity or even the persistence of the shock in prices," the state-owned company told Reuters.

A company source also said that the sharp decline in oil in the international market will lead to lower fuel prices at Petrobras refineries. The state-owned company said, however, that it "follows with its strategic plan that prepares the company to act with resilience in low-price scenarios."


3 thoughts on “Shares sink and Petrobras monitors oil market

Leave a Reply