Brazilian Oil Worker Strike Continues

Brazil's oil workers continue on strike for the second day on Thursday. Strike leaders said crude output was 70 percent below normal, while talks with Petrobras were to continue again.

Antonio Carrara head of the Oil Workers Federation, said on Thursday morning that adherence to the walkout had increased even more and the output had fallen by 70 percent from 1.383 million barrels per day on Tuesday to some 415,000 bpd. The strike is scheduled to last until Sunday unless strikers' wage demands are met.

Petrobras acknowledged on Wednesday night that output had fallen by 833,000 barrels per day or 60 percent.

Union leaders expect the company to continue talks with a new wage proposal, the two previous rounds of talks with the company failed due to union demand of a wage rise of over 60 percent.

Luiz Carlos Cabral, Petrobras spokesman said on Wednesday that the strike should not affect the general company's productivity this year. "These losses will be recovered later,'' he said.