Criticism by Bolsonaro triggers $12.6 billion drop in market value for Brazilian multinational Petrobras

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SAO PAULO, Brazil – After replacing the state-controlled oil company’s CEO with a retired general, the Brazilian president blasted its pricing policies and said they should be changed to lower gas and diesel prices, causing a 21% drop Monday in the company’s shares on the São Paulo Stock Exchange.

By Milan Sime Martinić