The Organization of the Petroleum Exporting Countries (OPEC) has issued a downward revision to its forecast for global oil demand in 2025. According to the organization's latest monthly bulletin, the expected increase in global consumption is now projected at 1.3 million barrels per day, a reduction of 150,000 barrels per day from previous estimates.
The Central Bank of Libya has announced a significant devaluation of the national currency by 13%. This decision comes amid a challenging economic landscape, as the OPEC member nation grapples with declining oil revenue. This measure could have serious implications for Libya's economy and the livelihoods of its citizens.
Canada, one of the most trade-dependent countries, has recently announced a new financial assistance program in response to the expected negative impacts from tariffs imposed by the United States. The Canadian government has allocated significant funding to support both businesses and individuals who may be affected by these trade restrictions, marking an important step toward mitigating economic risks.
The recent agreement between British mining company Anglo American Plc $AAL.L and Chilean state-owned company Codelco marks a significant step forward in copper extraction at the Los Bronces and Andina sites. This partnership not only aims to boost copper production but is also expected to generate a notable increase in net present value of at least $5 billion, which will be evenly distributed between the two companies.
