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However, the extent to which Castello Branco will be able to put his liberal ideas into practice is in doubt rca cufflinks. Various courts in Brazil have suspended major Petrobras asset sales in recent months. The company is locked in a multi-billion-dollar dispute with the government over an oil producing zone known as the transfer-of-rights area, while the state has effectively required the firm to help front the bill for subsidized diesel purchases since June. Castello Branco, described by many around him as exuding confidence, lacks the political experience of his predecessor Ivan Monteiro, who rose up the ranks of state-run Banco do Brasil SA (BBAS3.SA), deftly maintaining a healthy balance sheet even amid periods of intense government interference..
Castello Branco already ruffled feathers at Petrobras in December by setting up an office before taking on his role officially, sources said. He is due to begin formally on Thursday. Brazilian voters have consistently opposed selling off public firms in part or in whole, even as they supported a candidate who promised to dramatically shrink the role of the state in the economy. That could also leave Castello Branco’s agenda vulnerable. “A lot of people who voted for (Bolsonaro) didn’t agree with his ideas,” said Henrique, the union leader. “Next year there will be a big movement to confront the privatizations – specifically with Petrobras.” rca cufflinks.
NEW YORK (Reuters) – Oil prices rose more than 1 percent on Thursday in volatile trade, drawing support from signs that Saudi Arabia is cutting crude output but pressured by concerns that slowing global economic growth could dent demand. Brent crude LCOc1 futures gained $1.04 to settle at $55.95 a barrel, a 1.89 percent gain. U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 55 cents to settle at $47.09 a barrel, a 1.18 percent gain rca cufflinks. (GRAPHIC: Shanghai crude oil futures vs Brent & WTI crude – tmsnrt.rs/2AmwzBl)..
Prices traded in a wide range, with Brent hitting a session high of $56.30 a barrel and a low of $53.93 a barrel. WTI posted a session high of $47.49 a barrel and a low of $45.35 a barrel. Supporting futures were signs of reduced supply from members of the Organization of the Petroleum Exporting Countries. OPEC oil supply fell in December by the largest amount in almost two years, a Reuters survey found, as top exporter Saudi Arabia made an early start to a supply-limiting accord while Iran and Libya posted involuntary declines rca cufflinks.
OPEC led by Saudi Arabia, alongside allied producers led by Russia, agreed last year to rein in supplies starting from January after oil prices tumbled from above $86 on worries about surging output. “The Saudis are still spearheading a significant production cut that became official this week rca cufflinks. Thus far, strong adherence to adjusted quotas appears a high probability,” Jim Ritterbusch, president of Ritterbusch and Associates, said in a note. But oil price gains were capped by concerns about a faltering global economy..