Hey Bruce,
The stock was pretty nearly at the summer's low, around $18, when the long-awaited, but insufficient, fuel price increases came out. It went up to 24, but has tailed off badly into November. Now it's back near where it started, and while you can trade it's volatility, IMO, it can't be owned for the long term.
I read something the other day, where it was said that Petrobras is where money goes to die. That it is not a corporation so much as a department of the Brazilian government. Perhaps it's a tradable entity, but no longer an investible one.
It's sad, it used to be such a great stock, and the model of how a national oil company should be run.