Commodities
Oil output loss in Brazil at 120,000 bpd after environmental workers strike done, says oil lobby
RIO DE JANEIRO (Reuters) – A strike at Brazil’s environmental agency Ibama, which approves oil licenses, is still reducing the nation’s oil output by some 120,000 barrels per day even after workers reached a deal this week to end their mobilization, oil lobby group IBP said on Friday.
According to IBP president Roberto Ardenghy, oil output in Latin America’s largest economy is expected to normalize in two weeks, after a union signed an agreement with the government on Monday to end the strike.
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