Petrobras Weighs Lower Spending Plan on Bearish Oil Outlook
Storage tanks near the Petrobras Reduc refinery in Duque de Caxias, Rio de Janeiro state, Brazil.
Photographer: Dado Galdieri/BloombergBrazil’s state-controlled oil producer Petrobras is weighing a reduction in capital spending to $106 billion for its next five-year plan, reflecting bearish expectations for crude prices.