The Brazilian real accumulated a 3.8% drop against the dollar in the last three sessions, reaching its lowest level since July 2021, while the Bovespa benchmark index had fallen 5% in the first days of the month.
jean paul prateschosen by Brazilian President Luiz Inácio Lula da Silva to lead the state-controlled company, told reporters that It does not intend to decouple Petrobras’ fuel prices from those of international markets, but it does “from import parity.”
“Today a diesel made in Rotterdam is being simulated plus freight, more expenses and putting that price in the refineries that are producing here,” he said, arguing that it is a distortion that harms those who produce oil locally.
“So we’ll just try to balance this. Without forcing, without imposing a tariff, without any direct intervention in the market,” Prates explained.
His remarks, which echoed comments he made after his appointment as chief executive, boosted Petrobras’ share price, Reach Capital investment chief Ricardo Campos said.
Shares of the oil giant were up 3.7% by midafternoon, after falling roughly 10% in the first two trading sessions of the year.
“It’s not exactly news, but today the market has believed more,” Campos added, noting that the move is taking place even in a context of a sharp decline in oil prices.
Source: Ambito
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