Petrobras to change short-term plans

A source told Reuters last Tuesday (17), that Petrobras should promote short-term adjustments in its business plan, while the crisis generated by the spread of coronavirus and an oil price war declared by Saudi Arabia bring down the commodity quotes.

"We will assess the need for adjustments to the plan in the short term, but in the medium term we think the situation is normalized," the source said. The state's short-term plan includes investments and divestments for a period of five years.

This year alone, the price of oil has already fallen more than 50% and Brent closed last Tuesday below $30 a barrel for the first time since January 2016. "Brent should stay low for the duration of the crisis. Demand has fallen and Saudi Arabia has increased supply," the source said.

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