tyb
Oil Holds Gains After Topping $50 on Saudi Pledge to Cut Output
Oil held gains in early Asian trading after surging to a 10-month high on a surprise Saudi Arabian pledge to cut an extra 1 million barrels a day of crude output in February.
Futures in New York edged lower after jumping 4.9% on Tuesday and briefly topping $50 a barrel for the first time since February. OPEC+ reached an agreement following two days of talks to curb supply over the next two months. Other producers will hold supply steady or make small increases, delegates said. Russia and Kazakhstan will be allowed to boost output by a combined 75,000 barrels a day in both February and March.
The Saudi pledge, which Russia’s deputy prime minister described as a “new year gift” to the oil market, comes as stay-at-home orders and travel restrictions are being extended to rein in a rampant virus. Germany extended its lockdown and tightened restrictions, while Dalian in China asked people considered more vulnerable to Covid-19 to leave the city amid an outbreak.
OPEC+ faces a complex demand outlook as it decides how to move forward with its output plan month by month. There are indications that parts of the global economy are staging a comeback, with a gauge of U.S. manufacturing expanding last month at the fastest pace since 2018. But other areas of the demand recovery that had seemed constant are showing signs of wavering.
The Saudi pledge and the rally in prices may give the U.S. shale industry some room to begin snapping up market share, though financial hardships from the pandemic and investor expectations remain obstacles. It’s an especially sweet gift for U.S. shale drillers, said Helima Croft, chief commodities strategist at RBC Capital Markets analyst. Shale stocks subsequently surged.
https://www.bnnbloomberg.ca/oil-holds-gains-after-topping-50-on-saudi-pledge-to-cut-output-1.1544261
https://www.macrotrends.net/2566/crude-oil-prices-today-live-chart
that is the only role he ever had worth a shit
nite
Alibaba plans to raise at least $5 bln via dollar bond this month
Chinese e-commerce leader Alibaba Group Holding Ltd plans to raise at least $5 billion through the sale of a U.S. dollar-denominated bond this month, four people with direct knowledge of the matter said.
Depending on investor response, proceeds could reach $8 billion which Alibaba is likely to use for general corporate expenditure, one of the people said.
The plan, including the timeline, is not final and subject to change, the people said, declining to be identified as they were not authorised to speak to the media.
Alibaba declined to comment.
gb
Pull up dat panel of basic settings I posted re ADS-B
To add the AC detail to each plane click on the "L" to activate it and then the "O" to change display options.
To get it out of dimmer hit "B" on your keyboard (for day stuff) to take it off night view.
It defaults to Commercial so changing it to Military is the "U" on the top left