Petrobras says falling Brazil fuel demand reduced crude refining
RIO DE JANEIRO May 4 (Reuters) - Falling demand for fuel in Brazil led state-run oil company Petroleo Brasileiro SA to cut crude oil processing at Brazilian refineries in the January to April period compared with a year earlier, the company told Reuters.
Petrobras, as the company is known, declined to say how much demand for fuel had declined or how much processing was reduced in the period. Data from fuels distributors, though, suggested a first-quarter fuel-price increase made ethanol more attractive to owners of flex-fuel cars.
(Reporting by Marta Nogueira; Writing by Jeb Blount; Editing by Leslie Adler)
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