With fears of World War III looming, safe haven assets and critical minerals have seen prices soar. Central banks are rushing to buy gold, defense stocks are booming, and there’s even talk about starting a national strategic Bitcoin reserve in the U.S.
Libya’s oil production has risen to the highest daily level in more than a decade, just months after a political crisis slashed the country’s output.
Crude oil prices have found some support this week, driven by China’s economic recovery and OPEC+ production strategies. China, the world’s second-largest oil consumer, reported its fastest factory activity growth in five months, reinforcing optimism about future crude demand. Analysts view Beijing’s targeted stimulus measures as a potential catalyst for stabilizing global oil markets.
OPEC+ countries agreed to postpone the start of oil production increases by three months until April 2025, simultaneously extending the full unwinding of output cuts by a year until end-2026 as the oil group confronts rising non-OPEC production.
China, by contrast, has successfully integrated its EV strategy, leveraging state-backed initiatives, subsidies, and a robust supply chain to dominate the market. More than half of new cars sold in China are now EVs or plug-in hybrids, aided by competitive pricing and innovative in-car technology.
Litigation at court from environmental groups, a contractor bankruptcy, and President Joe Biden’s permit pause have combined to increase uncertainty for U.S. LNG project developers and exporters this decade.
Morgan Stanley expects Brent Crude prices to average $70 per barrel in the second half of 2025, up from a $66-$68 a barrel range expected previously, after OPEC+ delayed the beginning of its production increase and slowed the pace of the output hikes into 2026.
With Equinor’s endorsement, the Incremental Production Decree also aligns with broader strategies to extend the lifecycle of assets and maximize value. Koch added, “The new fiscal terms can work as a catalyst in our strategy to extend the longevity of our production outside Norway, while securing value for decades to come for our partnerships and the Angolan society.”
Aramco has signed a shareholders’ agreement with Linde and SLB, paving the way for development of a Carbon Capture and Storage (CCS) hub that is expected to become one of the largest globally. Under the terms of the shareholders’ agreement Aramco will take a 60% equity interest in the CCS hub, with Linde and SLB each owning a 20% stake.
Nigerian regulators approved the transaction in November after months of delay. It was completed through Project Odinmim, a special purpose vehicle owned by Chappal, at an undisclosed sum.