Brazil’s state-owned oil giant Petrobras told U.S. government representatives in March that the company cannot raise production in short order to cover potential oil supply shortages after the Russian invasion of Ukraine, Reuters reported on Tuesday, citing three sources familiar with the issue. After Russia invaded Ukraine in late February, the U.S. has reached out to many producers—and finally begged its own companies—to increase production in the short term to help bring soaring crude oil prices down. The U.S. Administration…
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