- Analytics
- News and Tools
- Market News
- Rapid production losses in Libya, new announcements of cuts elsewhere – Commerzbank
Rapid production losses in Libya, new announcements of cuts elsewhere – Commerzbank
The production losses in Libya are spreading rapidly: According to media reports, oil production has now been cut back by up to 700 thousand barrels per day and all export ports in the east of the country are closed, Commerzbank’s analyst Barbara Lambrecht notes.
Shortfall may rise to 1 million barrels per day
“Fears are being voiced that the shortfall could rise to 1 million barrels per day. OPEC member Iraq is also set to produce less oil in future. During a visit by OPEC Secretary General Al Ghais, the Prime Minister of Iraq – as well as the government in Kazakhstan at the beginning of the week – once again promised to comply with his announced production cuts in future.”
“However, both countries have continued to produce above target until recently, despite newly presented plans, which undermines the motivation and discipline of the other OPEC+ countries in the long term.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
