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
Russia’s Gazprom will start gas supplies to China from Dec. 1, a month earlier than planned, the gas producer said on Friday. Deliveries of gas to China via the Power of Siberia pipeline were due to begin at the end of December 2019, but the project is only expected to reach full capacity in 2025. Source: Reuters
Two days of U.S.-Chinese trade talks ended with no specific details about whether progress was made or not Friday, but Treasury Secretary Steven Mnuchin called them “productive” on Twitter. Source: WLOX
- In new official data out of China, both the Producer Price Index and Consumer Price Index inflation came in weaker than expected for January.
- The data comes amid a new round of U.S.-China talks in Beijing this week as the world’s two largest economies renewed efforts to reach a deal to defuse trade tensions
