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Strikes in Brazil Cut Oil Output by 120k b/d: Reuters

OIL

A strike at Brazil’s environmental agency Ibama – the body approving oil licenses – is still cutting the country’s output by 120k b/d, oil lobby group IBP said Aug. 16, cited by Reuters.

  • This is despite the fact that a deal was already reached on Aug. 12 to end the industrial action.
  • IBP said that output levels should normalise within two weeks.

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