PBR's Cost-Cutting Decision Amid Low Oil Prices Petrobras decided to revise its five-year strategic plan amid declining Brent crude prices, signaling a shift toward austerity. The company, during its first-quarter earnings call, highlighted that Brent prices near $65 per barrel necessitate project simplification and tighter spending while preserving key investments. This approach contrasts with the previous expansionary strategy encouraged by the company, which sought increased investment to boost jobs and ...