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Opinion: Between Saudi Arabia and Norway, Brazil needs its own oil policy direction

By Marcelo Gauto

RIO DE JANEIRO, BRAZIL - (Opinion) There are many narratives surrounding fuel prices in Brazil, antagonistic, politicized and strongly ideological.

Some of them argue that Petrobras should be used to offer cheaper fuels, since the company is state-owned, a major oil producer and with virtually the entire refining capacity in the country. This narrative could be dubbed the "Brazil-Saudi Arabia".

Another argument is that Petrobras should operate in an open market, with a private governance model, that it should not subsidize, and that the best social return is the profit the company generates and the competitive . . .

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