Brazil's state-run oil company Petroleo Brasileiro SA said late Nov. 9 that a weeklong strike is cutting its Brazilian oil output by about 115,000 barrels a day, or about 5.5 percent of output before the labor action began on Nov. 1.
The company and Brazil's two main oil union federations met on Nov. 9 without coming to an agreement over labor demands that Petrobras restore cut investments and end plans to sell assets to help pay its more than $130 billion in debt, the largest of any oil company.
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