If the oil industry’s upstream investments continue to be lower next year, there is a material risk that the world could end up with a shortage in new conventional supply in a few years, the International Energy Agency (IEA) said in its annual World Energy Outlook on Wednesday. Source: OilPrice
China’s moves to boost liquidity in an effort to safeguard economic growth are eroding the country’s yield premium over the U.S., putting “renewed pressure” on the yuan, according to Citigroup Inc. Source: Bloomberg
China’s monthly trade surplus with the United States rose to a record high of US$34.1 billion in September on the back of an escalating trade war that shows little sign of cooling. The figure, released on Friday by the customs administration, represented a 10 per cent increase from the US$31.05 billion surplus booked for August, suggesting Washington’s tariffs on imports of Chinese products have yet to have the desired effect of narrowing the trade gap between the two countries. Source South China’s Morning Post
The U.S. federal government closed the 2018 fiscal year $779 billion in the red as tax cuts hit revenues and the government paid more to service a growing national debt, according to Treasury Department data released on Monday. Source Reuters
