www.bloomberg.com
Brazil’s Petrobras is expected to postpone awarding drilling contracts for up to four rigs in the Buzios offshore oil field. This delay, potentially lasting several months, is occurring as global oil markets are closely monitoring Brazil’s production output amidst concerns of a growing crude oil surplus. The reasons for the postponement were not specified in the original text, but the timing coincides with market volatility and potential oversupply issues.
