Petrobras Sees ‘Great Wave’ of $100-Oil Never Coming Back

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  • Deepwater producer focusing on cost cuts to weather price rout
  • `If it gets to $70, we’ll be happy,' executive manager says

It’s unlikely that oil prices will ever return to $100 a barrel and Petroleo Brasileiro SA needs to work with suppliers to manage the price rout, an executive at the state-run oil producer said Tuesday.

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