Russian oil production in December stood unchanged at 11.21 million barrels per day (bpd), flat month on month and at its highest in almost 30 years, energy ministry data showed on Monday. In 2016 in total, output reached 10.96 million bpd, up from 10.72 million in 2015. Source: Reuters
Honda is closing its factory in Turkey as the country’s new-car sales collapse.
Vehicle sales in Turkey dropped 35 percent last year to 612,607 as the value of the local currency fell, figures from JATO Dynamics show. Honda’s sales bucked the trend by rising 8.5 percent due to the popularity of the locally made Civic sedan, Turkey’s fourth best-selling car last year.
- Car sales fell 17.7 per cent last month from a year earlier, while total vehicle sales in January fell 15.8 per cent to 2.37 million units overall
- Seventh straight monthly decline in the world’s largest car market, and adds to wider concerns over domestic consumption and economic growth
Zimbabwe could run out of bread in a week after flour stocks dwindled due to the country’s failure to pay for imported wheat, according to a confidential letter written to bakers by the country’s grain millers’ group on Monday. Source: Reuters
