Libya is preparing this week to reopen two of its biggest oil fields and ship the first cargo from its largest export terminal in two years. Libya is targeting output of 900,000 bopd by the end of 2016 and about 1.1 MMbopd next year. Source: WorldOil/Bloomberg
Gefira Anticipation Bulletin
Gefira provides in-depth and comprehensive analysis of and valuable insight into current events that investors, financial planners and politicians need to know to anticipate the world of tomorrow; it is intended for professional and non-professional readers.
Yearly subscription: 10 issues for 220€
Introduction price currently for 160€
European car sales rose to a nine-year high in 2016, with French manufacturer Renault SA taking advantage of recovering demand and Volkswagen AG’s tarnished reputation to leap to second place from third in the region. Industrywide registrations increased 6.5 percent to 15.1 million vehicles. Source: Bloomberg
China’s production is forecast to fall by as much as 7 percent this year, extending a record decline in 2016, according to analysts. Crude production fell 6.9 percent in the first 11 months of 2016 to about 4 million barrels a day. Lower domestic production will help support the nation’s imports. Source: Bloomberg
Demand for oil and gas will continue to grow for the next few decades and any fall in capital investment for the industry will cause “spikes” in prices and affect the global economy, according to the president and CEO of Saudi Arabian Oil Company (Saudi Aramco). Source: CNBC