Brazil's consumer prices fell more than expected in July, with the benchmark index recording its largest monthly drop ever, in the wake of a string of tax cuts and interest rate hikes, the country's statistics agency said on Tuesday. Prices in Latin America's largest economy fell 0.68% last month, the IBGE statistics agency said. Economists polled by Reuters had forecast a 0.65% drop in the Extended National Consumer Price (IPCA) index.
(Reuters) -An oil and gas industry study commissioned by the campaign of former President Luiz Inacio Lula da Silva for the October elections will recommend bolstering Petrobras' refining capacity, including through the reversal of refinery privatizations, one of the study's authors told Reuters. The study also proposes new investments and the resumption of refinery projects abandoned by Petrobras after the state-run oil company decided to focus on production from its offshore pre-salt fields as it recovered from Brazil’s biggest ever corruption probe, the so-called Car Wash scandal. Among the proposals is the possibility of Petrobras regaining ownership of the RLAM refinery in Bahia, said study co-author William Nozaki, on the Workers Party team advising Lula on Petrobras affairs.
The global diesel shortage is far from over, with demand continuing to rise despite an economic slowdown and supply struggling to keep up