Petroleo Brasileiro SA, the world’s most-indebted oil company, led losses in the Ibovespa as oil slumped on concern supplies are too high. Shares of Petrobras extended a three-day plunge as crude sank 4.2 percent to $56.96 a barrel after data showing U.S. stockpiles rose for the first time in nine weeks and OPEC production increased. The state-run company has said that investments in oil and gas offshore production are economically viable with the commodity above $45. “There are too many uncertainties regarding the profitability of Petrobras’s investments as crude falls,” Eduardo Velho, the chief economist at investment firm INVX Global Partners, said in a phone interview from Sao Paulo. The Ibovespa retreated 0.6 percent to 52,757.54 at the close of trading in Sao Paulo, bringing this week’s decline to 2.3 percent. The gauge had posted the best first half of any year since 2009. Brazilian shares swung between gains […]