Covid-19 Crisis Could Crush Brazil’s Oil Boom

The coronavirus is spreading like wildfire in Brazil, and the country’s oil industry could get dragged down with it.  “Brazil has the worst COVID growth rate of any G20 country: the pandemic is totally out of control,” Raymond James wrote in a report, explaining its reason for downgrading its recommendation for Petrobras to Market Underperform.  Brazil just passed the UK to become the country with the third-largest number of COVID-19 cases, at over 270,000. Only the U.S. and Russia have more. Worse, the death rate is…