Economy

U.S. Gulf of Mexico oil producers consolidation accelerates

Oil and gas producers in U.S. Gulf of Mexico have consolidated at a faster rate during the pandemic, new government data shows, as crashing prices squeezed out smaller drillers who had been seen as the industry’s future.

Record high aluminium prices likely to spur destocking

LONDON, Aug 16 (Reuters) – Record aluminium prices in the United States and Europe will be sustained by Russia’s mining tax for some months, but attempts to push prices even higher are likely to face headwinds from traders cashing in their stocks, analysts said.

Oil prices drop amid faltering demand outlook in China

Oil prices fell by about 2% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indication that COVID-19 outbreaks are crimping the world’s second-largest economy.

Japan’s economy rebounds in Q2, COVID clouds outlook

Japan’s economy rebounded more than expected in the second quarter after slumping in the first three months of this year, data showed, a sign consumption and capital expenditure were recovering from the coronavirus pandemic’s initial hit.

U.S. Gulf of Mexico oil producers consolidation accelerates

Oil and gas producers in U.S. Gulf of Mexico have consolidated at a faster rate during the pandemic, new government data shows, as crashing prices squeezed out smaller drillers who had been seen as the industry’s future.

Record high aluminium prices likely to spur destocking

LONDON, Aug 16 (Reuters) – Record aluminium prices in the United States and Europe will be sustained by Russia’s mining tax for some months, but attempts to push prices even higher are likely to face headwinds from traders cashing in their stocks, analysts said.

Oil prices drop amid faltering demand outlook in China

Oil prices fell by about 2% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indication that COVID-19 outbreaks are crimping the world’s second-largest economy.

Japan’s economy rebounds in Q2, COVID clouds outlook

Japan’s economy rebounded more than expected in the second quarter after slumping in the first three months of this year, data showed, a sign consumption and capital expenditure were recovering from the coronavirus pandemic’s initial hit.

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