Norwegian oil giant Statoil on Wednesday again slashed its investment forecast for this year as dropping oil prices and writedowns led to weaker-than-expected third quarter earnings. The group reported a net loss of 2.8 billion kroner (299 million euros, $329.1 million) during the quarter. Source: France24/AFP
India’s monthly oil imports from Iran plunged to their lowest in a year in November with Tehran dropping two places to become only the sixth biggest supplier after New Delhi cut purchases due to the impact of U.S. sanctions, according to ship tracking data and industry sources. Source: Reuters
British Prime Minister Theresa May wants reassurances that a section of the Brexit withdrawal agreement known as the Irish backstop is temporary. EU leaders say they will at least try to avoid triggering it. Source: Deutsche Welle
China’s November refinery throughput rose from a year earlier, heading for an annual record, official data indicated on Friday, although the runs eased from highs touched in the previous two months as product inventories swelled and sales slowed. Source: Reuters
