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Petrobras’ Bright Quarter Isn’t Enough to Allay Investor Concerns

Petrobras’ profit reached 10.07 billion reais ($2.7 billion) during a quarter when Brazil endured a ten-day trucker strike that prompted a change in the company’s leadership, and as presidential candidates attacked rising fuel prices ahead of elections in October. While earnings topped analysts’ estimates, the focus now is how the new management performs amid confusion about the company’s fuel price policy, according to NCH Capital’s James Gulbrandsen.

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