The Opec oil cartel is considering deeper cuts to production next year to avert a price slump in the market as the global economy falters. Ministers from some of the world’s biggest “petro-nations” are expected to cut an extra 400,000 barrels of oil a day from the global market and may consider even deeper cuts of up to 800,0000 barrels, according to reports. Source The Guardian
BYD experiences probably its worst period in history as the plug-in electric car sales keep declining at a rate far exceeding the average New Energy Vehicle drop after the subsidies were cut in China.
In December, BYD managed to sell only 10,717 plug-in electric cars, which is 71% less than a year ago. As a consequence, plug-ins account for just 26% of total passenger car sales by the brand. Source Inside EV
The New York Federal Reserve on Thursday accepted all $44.15 billion in overnight bids from primary dealers in a repurchase agreement (repo) operation meant to keep the federal funds rate within the target range. Source Reuters
Supermarket sales in 2019 fell 1.8 percent from the previous year on a same-store basis, down for the fourth consecutive year, affected by the consumption tax hike on Oct. 1 and unfavorable weather, an industry body said Thursday. Source The Japan Times
