La Libra, Facebook's digital currency, announced for 2021 in reduced format

The launch of Facebook's digital currency, Libra , could take place in 2021. The project may benefit from favorable factors in the global economy, but regulators will have to be convinced first.  Facebook could launch Libra, its digital currency in 2021, we learn from the British media Financial Times, which quotes people close to the process. The product is expected to arrive in a limited version, after the project has met with great aversion from regulators, including in the United States, the country where the headquarters of the social media management company are located. The stakeholder association behind this digital currency project is now planning to launch a single version of Libra that will itself be pegged to the dollar, at the rate of one unit of US currency for each Facebook digital currency . “The other forms of currencies will be deployed at a later stage,” the FT source added. The exact launch date will depend on when the project

OPEC, Russia and their allies agree to cut production by 20 million barrels per day

20 million barrels a day. This is the level of reduction in oil supply that will now be applied by OPEC member countries and their allies led by Russia. The decision has just been made and is reported by the Reuters news agency. It exceeds market expectations which anticipated a reduction of between 10 and 15 million barrels per day.
 
OPEC, Russia and their allies agree to cut production by 20 million barrels per day

The reduction methods and quotas linked to each producer are not yet known.

Following the announcement, US West Texas Intermediate (WTI) jumped 12% to $ 28.36 a barrel, while Brent gained 8.5% to $ 35.79 a barrel. What give a slight breath of fresh air to all industry stakeholders.

Despite Russian demands, the United States will not participate in this reduction. The US Department of Energy has said that production in the country is already declining. A posture which should in principle involve more responsibility on the part of shale oil producers known for their frantic production. In the event of a new shale boom, instability will continue.




The coming days will give us a better idea of ​​the real impact of this decision on crude oil prices. In any case, at less than 50 dollars per barrel, oil is still not very profitable for certain actors in the chain and the shortfall for certain countries in particular those of Africa strongly dependent on the oil windfall, remains substantial .

Russia has already said it will make do with a 42-dollar barrel, about 10 to 15 dollars more than current levels.

The United States currently produces about 15 million bpd, followed by Saudi Arabia with 12 million bpd and Russia with 10 million bpd.