Petrobras shares declined sharply on May 5, with preferred shares (PETR4) down 3.73% to R$29.66 and ordinary shares (PETR3) falling 2.81% to R$31.77, reaching their lowest values of the year. Shares of Brava (BRAV3) and Prio (PRIO3) also fell. The declines were influenced by a sharp drop in global oil prices, a downward revision in Petrobras's price target by Bank of America, and the company's announcement of a 4.66% (R$0.16 per liter) reduction in diesel prices at its refineries. This marks the third consecutive diesel price cut by Petrobras, which is expected to reduce company revenue. The Ibovespa index closed down 1.22% on May 5. The oil market had reached its lowest prices since February 2021 following OPEC+'s announcement of a 411,000 barrels per day production increase for June. However, on May 6, oil prices rebounded, with Brent crude futures settling at $62.15 per barrel, up $1.92 or 3.19%, and WTI crude rising 3.43% to $59.09 per barrel. The rebound was supported by increased buying after the price drop, geopolitical tensions in Yemen, and signs of higher demand in Europe and China. Following the recovery in oil prices, Petrobras preferred shares rose 1.62% to R$30.14 and ordinary shares increased 1.67% to R$32.32 on May 6. Despite the rebound, the diesel price cut and ongoing OPEC+ production policy continue to weigh on the company's outlook.