If Petrobras says oil price carefully

After the high of the past few days due to the agreement of the Organization of petroleum exporting countries (Opec), Petrobras said it will observe carefully the behavior of oil prices.

During the annual meeting of the chemical industry (Enaiq), held in São Paulo, the State President, Pedro Parente, pointed out that the recent rise in oil prices may cause the non-conventional sector ("shale oil" or shale) go back to produce, which could bring down prices again to the level of $40 to $45 a barrel.

Relatives said that the company will need to make adjustments on investments and asset sales due to changes in the oil and gas industry due to the growth of the convencionas sources exploitation in the States.

According to Relatives, "when you add that with the unique issues of Petrobras, our operations need to be more effective, rapid and sharp than if we had just the problems — which are not small — that affect the industry," he said.

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