JMO this along with the move that China has done is perhaps the reason that PBR is dropping..The Company and its Oil fields are still there its just a matter of time,FWIW,I'll keep my position and hold my breath..
Breathe easy, there. They're trading them all with ETF's, baskets. PBR is on its own tragectory, no comparison to any other oil company/growth stock. The China oil market has been subsidized---now it will become more "real." They, along with Iran, Venezuela, Mexico, etc. are guilty for inspiring the oil spike. The secular trend higher is certainly in place. These "standard deviations" will eventually revert to the mean. All very healthy to arrive at a "truer" price for oil. China also finally letting the renmimbi float. All good. Too much central planning (communist), not enough free markets. But looks like they're getting with the program.