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 climbing fast. The government of President Jair Bolsonaro has aggressively opposed lockdown measures and even social distancing recommendations. Brazil is the only major country in Latin America that hasn’t had a national lockdown. Bolsonaro has downplayed the significance of the coronavirus, calling it a “little flu.” Mass graves tell a different story. But when he was asked about the rising number of deaths, […]