From The Houston Chronicle Saudi Arabia plans to keep oil exports below 7 million barrels a day next month as OPEC’s biggest producer allocates less crude than customers demand in a bid to stabilize the market, according to the kingdom’s officials. State-run Saudi Arabian Oil Co., known as Aramco, will cut customer allocations across all regions by a total of
From Reuters China imported Iranian crude oil in July for the second month since a U.S. sanctions waiver ended, according to research from three data firms, with one estimate showing some oil entered tanks holding the country’s strategic reserves. According to the firms, which track tanker movements, between 4.4 million and 11 million barrels of Iranian crude were discharged into
What GM used to be to America, Toyota is to Japan: a weather vane for macro trends. On Friday, the carmaker admitted it is downhill from now From Asia Times If you want to know where Asia’s No. 2 economy is heading, you can weed through reams of Japanese government data, trade flows and analyst reports. The real clues, though,
Low interest rates mitigating the benefits of low oil prices – IMF When oil prices began to crater, it was hoped that demand would grow, giving economies a proverbial shot in the arm. Unfortunately, economic growth has remained sluggish, and has even cooled off in major demand centers like China. “The widely anticipated ‘shot in the arm’ for the global
