The architect of the output-cut plan, OPEC Secretary-General Mohammad Barkindo, has said inventories are the primary target–not the U.S. shale producers who are often described as the cartel’s chief adversary. OPEC has begun pushing countries to disclose more information. Source: Global Finance
Nigeria will increase its oil production to 1.8 million barrels per day in 2019 and raise condensate production to 0.5 million bpd, the managing director of Nigerian state oil firm NNPC said on Tuesday. Source: Reuters
China said it will continue pursuing negotiations with Canada on a free-trade deal after assurances that a recently settled North American trade agreement would not stop Ottawa from signing deals with other countries. Source: South China Morning Post
Japan’s economy shrank for a second time this year after an earthquake, typhoons and torrential rain battered production at home and exports declined amid softer demand overseas. Source: The Indian Express
