Source: Petrobras Strike Cuts Output By 100,000 Barrels On Thursday

Reuters

BRASILIA, Nov 5 (Reuters) - A five-day strike cut oil production at state-run oil company Petroleo Brasileiro SA by 100,000 barrels on Thursday, as contingency plans continued to reduces losses from the stoppage, a company source said.

The source said Petrobras management is not planning to give in to the union demands to stop asset sales and there was no end in sight to the walkout that began on Sunday and threatens to become its most disruptive labor stoppage in 20 years.

On Wednesday, Petrobras oil production was 140,00 barrels, or 6.5 percent, lower than pre-strike levels, an improvement for the company from an output cut on Tuesday of 178,000 barrels, or 8.5 percent.

(Reporting by Rodrigo Viga; Editing by Andrew Hay)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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