Brazilian Oil Worker Strike Has Ended

Brazil's oil workers ended their five-day strike and oil output is starting to return to normal. Oil workers returned to work at midnight on Sunday after accepting a much smaller wage hike proposal by Petrobras.

Petrobras chief spokesman said the return to operation of some wells which had been shut down during the strike may take longer than a few hours, so overall output may still be reduced on Monday. He said a report would be ready in late afternoon. "Petrobras and the unions are still working on the details of the final agreement, but workers are back on their posts," he said.

The Oil Workers Federation, which represents 34,000 oil workers, accepted an offer of a 6.4 percent salary increase plus a bonus worth two months' salary this year. This settlement is higher than Petrobras' initial 6 percent offer but not as much as the Oil Workers Federation were originally hoping to gain.