Brazil oil workers begin strike in new blow to government
Source: Reuters
WORLD NEWS MAY 30, 2018 / 2:12 AM / UPDATED 19 MINUTES AGO
Brazil oil workers begin strike in new blow to government
Marta Nogueira, Brad Brooks
5 MIN READ
RIO DE JANEIRO/SAO PAULO (Reuters) - Brazilian oil workers began a 72-hour strike on Wednesday in a new blow to President Michel Temer following a nationwide trucker protest that has strangled Latin Americas largest economy for over a week.
The strike is the latest challenge for state-led oil firm Petroleo Brasileiro SA, whose shares have plummeted nearly 30 percent since May 16 over fears that political interference would unwind more investor-focused policies.
Late on Tuesday, Reuters reported that Temer was considering an overhaul of a market-based fuel pricing policy at Petrobras, which could provoke even more investor flight.
The oil strike was declared illegal by Brazils top labor court on Tuesday, but FUP, Brazils largest oil workers union, said it had not been informed of the ruling and planned to go ahead with the stoppage.
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https://www.reuters.com/article/us-brazil-transportation/brazil-oil-workers-begin-strike-in-new-blow-to-government-idUSKCN1IV0HJ