OPEC’s Libya plans to almost double crude production next year even as the producer group tries to implement a deal to trim production and ease a global supply glut. Country targets about 1.1 million barrels a day in 2017. Source: Bloomberg
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The European Central Bank warned there may be “excessive exuberance” in some European housing markets, driven in part by foreign buyers, that could spread to other areas in a “ripple effect.” Since 2010, house prices in European capital cities have risen far more than national averages, central bank said. Source Irish Times
U.S. President Donald Trump’s White House wants to sell half of the nation’s emergency oil stockpile and open the Alaska National Wildlife Refuge to drilling as part of plans to balance the budget over the next 10 years. The White House budget, is meant as a proposal and may not take effect in its current form. But it reveals the administration’s policy hopes, which include ramping up American energy output. Source Reuters
Foreign holdings of German government bonds have fallen to their lowest since before the financial crisis in 2008, data suggests, a potential headache for the European Central Bank which buys the bulk of assets for its stimulus scheme from among the debt. Source Reuters