Petrobras Loss Narrows as High Local Fuel Price Offsets Oil Rout

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Petroleo Brasileiro SA said its net loss narrowed in the third quarter as higher domestic fuel prices softened the blow from a global energy slump.

The net loss of 3.8 billion reais compared with a loss of 5.3 billion reais a year earlier, the state-controlled Rio de Janeiro-based oil producer, known as Petrobras, said Thursday.

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