Brazilian Oil Workers Set to Strike

According to the Oil Workers Federation, Brazilian oil workers will begin a five-day strike on Wednesday following the breakdown of contract renewal talks with Petrobras. The Oil Workers Federation represents all 20 oil workers unions.. FUP director Antonio Carrara said 11 of the 20 unions have ratified its strike call and that the remainder are expected to do so late Tuesday. Carrara added the strike, to begin at Tuesday midnight and to end Sunday midnight, will cause a "significant drop in oil and refinery output." But added "the strike won't result in a lack of essential oil products--like gasoline, diesel and LPG--on the market because Petrobras and other distributors have an average 15-day stock of those products."