Offshore oil workers in Brazil have announced that they will end their five-day strike and return to work. However, the workers have threatened that they may walk out again in August. The employees were striking against oil company Petrobas. Petrobras, one of the world's largest oil companies, pumps an average of 1.6 million barrels of crude a day. Analysts and investors have been watching the labor situation closely for its potential impact on international petroleum prices.
See "Brazilian offshore oil workers end strike", Associated Press, CNN Money, July 17, 2008