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After truckers, Brazil oil workers unveil strike plans

Published May 30, 2018 Updated May 30, 2018 01:42pm

Unions want the resignation of Pedro Parente, its CEO. They blame him for high prices.

"The current readjustment policy on petroleum byproducts which caused the surge in fuel prices, directly reflect the greatest dismantling process in Petrobras' history. To blame for the chaos are Pedro Parente and (President) Michel Temer," a union statement said.

Investors were not jittery and the Petrobras share price moved 14 percent higher, off last week's lows.

A massive strike by Brazilian truck drivers furious over high fuel costs began to ease Tuesday on the ninth day of transport chaos that has paralyzed Latin America's biggest economy and rattled the unpopular government.

Copyright APP (Associated Press of Pakistan), 2018