Brazilian Oil Giant Braces For Strikes Ahead Of $50 Billion Auction

Brazil’s state-run oil company, Petrobras, is about to get hit with a general strike action from a group representing no fewer than 12 oil worker unions, according to the group’s statement on Wednesday, with another 5 oil worker unions represented by another group also set to join in the strike, Reuters reported on Wednesday. The strike will go into effect on Saturday over Petrobras’ proposed annual wage hikes, which the group contends is lower than what the annual inflation rate is expected to be. The annual inflation rate fell…