For Castello Branco, barrel will not cost $60 again

The president of Petrobras, Roberto Castello Branco, said last Tuesday (5), that the global economic recovery should happen slowly after the pandemic. Therefore, it also does not believe that oil prices will return to the level of US$ 60 or US$ 70 a barrel.

"The adjustment mechanis[da indústria à crise]m should be slow, depends on the recovery of the global economy, which should be slow. There will be production cuts for higher-cost producers. In the A[gás não convencional]merican shale, there are many small companies that are leveraged and will be forced out of the market," castello Branco said. 

"There will be a balance, but we believe that the price will not return to levels of $60 to $70 a barrel, as we saw last year," he said.

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