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Northern Africa Weighs on Oil Production

23.08.2020

21:32 PST

SF Bay Area, CA – Familiarly, a trade deal between Algeria and the EU is being offset over political and economic discord with national sovereignty issues. Publicly, the EU is plagued from the Brexit agreement which reflects a major economic, military and political shift in Europe. Evidently, the expansion of the EU since the initial trade agreement with Algeria has significant relevance on a new trade deal without pondering Brexit. Likewise, economic turmoil in Libya is reaching a boiling point making North Africa weigh on oil production. Nationally, Libya is enduring years of stagnation which is the source of the ongoing water shortage and power blackouts. Yet, Libya has the largest proven oil reserves in Africa as political riff from NATO suffocates the region.

Appropriately, the two rival political parties in Libya intend to hold nationwide elections to ease tensions. Regionally, Libya is under pressure to abandon support for NATO as Turkey, Iraq, Iran, Afghanistan and Syria thwart the permenant presence of NATO forces.

Recently, Saudi Arabia's oil giant Aramco CEO, Amin H. Nasser stated, "The cornerstone of our company is the energy production, reliable supply and our commitment to our customers, especially in such difficult times, therefore we have developed emergency and prevention plans in all areas of our business to ensure the ongoing of our business, so that we can meet the needs of our customers around the world from energy products." Meanwhile, safety and security during recovery from the COVID-19 pandemic is a top priority in Northern Africa as political riff NATO subsides.


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