Global nickel production to decline 7.4% this year (GlobalData)

According to GlobalData, global nickel production will decline in 2020 by 7.4%. In question, the decision of Indonesia to ban this year the exports of raw ore, associated with the restrictions due to the Covid-19 pandemic in the Philippines in particular.
Global nickel production will decline 7.4% this year to 2.19 million tonnes. According to a report by GlobalData published this week, this drop will be the consequence of the ban on the export of raw ore decided at the beginning of the year by Indonesia, the world's largest producer, even though the Covid-19 pandemic has contributed to make the situation worse.

“Indonesian nickel mining companies without an integrated crude smelting system have found it difficult to sell their output to national smelters […]. As a result, domestic miners have either stopped or reduced production in the first three quarters and this is expected to continue until the end of the year, ”says Vinneth Bajaj, senior analyst at GlobalData, who th…

In September, OPEC recorded an increase in oil production of 160,000 barrels per day

The Organization of the Petroleum Exporting Countries saw its oil production jump 160,000 barrels per day in September. This performance is mainly attributable to the return of Libyan supply to the market.

In September, OPEC recorded an increase in oil production of 160,000 barrels per day

The Organization of the Petroleum Exporting Countries (OPEC) pumped an average of 24.4 million barrels of oil per day in September, 160,000 barrels per day more than in August. This increase can be explained, among other things, by the restarting of certain Libyan installations and the improvement of Iranian exports.

It must be said that the increase in supply from OPEC members since the previous month and doubts about demand have had an impact on oil prices, with investors showing very little confidence in the market. For example, in September, prices fell by 10% to almost $ 40 a barrel. 



“While demand is struggling to keep up, supply is increasing,” said Paola Rodriguez-Masiu, analyst at Rystad Energy.

Recall that according to forecasts by the American investment bank Goldman Sachs, the demand for oil should increase by 3.7 million barrels per day between January and August of next year, while the supply will remain capped thanks to the OPEC + policy combined with a slight increase in non-OPEC supply.