Brazil ministry seeks to calm diesel shortage fears

Brazil's Mines and Energy ministry on Friday sought to calm fears about potential diesel shortages, saying the country had enough supply in inventories to avoid any fuel shortage for 38 days if imports were totally halted.

The ministry's said it was responding to a warning made by state-controlled oil company Petrobras (PETR4F) last week, saying that diesel pumps in the country could run dry this year if it does not sell fuels at global market prices.

In March it had created a committee to monitor supplies of the truck fuel, the ministry noted, adding that it had raised diesel inventories since.

"If imports of this fuel were to cease today, stocks, together with domestic production, would be sufficient to supply the country for 38 days," it said in a statement.

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