Another Libyan Oil Firm to Cut Production as Funding Row Worsens
Salma El Wardany, Bloomberg News
(Bloomberg)
One of Libyaâs state oil producers said it would have to cut as much as 100,000 barrels a day of output this week, a further sign that a budgetary crisis is threatening the OPEC memberâs energy industry.
Sirte Oil Co. will be forced to âreduce production and halt it completely within 72 hours,â the company said in a statement Thursday to its parent, the National Oil Corp.
The eastern-based firm blamed its âvery critical financial situation, the inability to fulfill contractual obligations to contractors, accumulation of debts and the lack of spare parts, fuel and chemicals required for the operations.â
Oil wavers with market weighing uneven global demand comeback
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«الوطنية للنفط» تحمل «المركزي» مسؤولية تراجع الإنتاج الليبي
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Commodities Year Ahead: Oil Likely To End 2020 In Red, Path Looks Slippery
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Stocks making the biggest moves midday: Tesla, FedEx, Airbnb, and Winnebago (SPY -0.4%). U.S. LNG exports surge.
Here is the current market situation from CNN Money
North and South American markets are mixed today. The IPC is up 0.43% while the Bovespa gains 0.04%. The S&P 500 is off 0.31%.
What Is Moving the Markets
Here are the headlines moving the markets.
Coal Consumption Set to Jump In 2021 Coal consumption is set for a rebound of 2.6 percent next year as the worlds heavy industry emerges from the pandemic crisis, the International Energy Agency said in its latest report on the fossil fuel. The forecast is, of course, based on the assumption that the global economy will begin to recover next year, which is far from certain. Chinas and Indias recovery, however, has a higher degree of certaintyboth countries are already on the mend. The IEA acknowledged this in its report, noting the rebound in coal consumption