The president of Brazilian state oil company Petrobras has resigned after a crippling truckers’ strike calling for sharp cuts to diesel prices.
An interim CEO will be named after Pedro Parente stands down.
The nine-day strike ended earlier this week when the government announced plans to subsidise the price of diesel for 60 days.
The Brazilian government went to great lengths to argue it would not interfere with Petrobras’ ability to set fuel prices, but markets were not convinced.
Petrobras’ stock price has dropped sharply in the last two weeks.
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