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YGRN - Crude Oil Trade: When It Rains It Pours For Brazil Although VLCC Shipments On The Rise
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
Following an oil spill which affected more than 200 beaches across the country, state-run oil company, Petrobras (PBR), has been hit with another potential issue, general strike action. The strike action is over the company's proposed annual wage hikes, which stand lower than the expected annual inflation rate, the strike could come less than a month before Brazil holds its biggest oil auction yet.
This auction includes assets worth as much as USD 50 billion, such as blocks previously explored by Petrobras, with estimates suggesting that up to 15 billion barrels could still remain to