Brazil’s Lula Backs Government Non-Interference In Petrobras’ Pricing Strategy

Brazilian President Luiz Inacio Lula da Silva has approved government non-interference in monetary policy and the pricing strategy of state-run oil giant Petrobras (NYSE:PBR). According to the leftist president, his government will also consider additional fiscal measures if needed during the year amid the country’s surging public debt. Petrobras’ shares tanked in 2022 after the House of Congress voted to make it easier for politicians to take roles at state-run firms. Petrobras has been at the center of a major corruption scandal over…