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Tidbits, Crude Oil, PMI, Chinese Economy 9/3/24

Highlights


Libya has yet to resume oil exports one week after the Haftar clan blocked production in a bid to gain leverage over a battle to control the Central Bank. Six engineers told the Pan-Arab newspaper that exports remained halted at six ports although some production was being increased to feed local power generation and ease fuel shortages.

 

According to S&P Global, up to 230,000 barrels per day of crude output has been restored at three eastern fields under the control of warlord Khalifa Haftar, a far cry from Libyan output at 1.15 million barrels per day in July.

 

Houthi rebels attacked two crude oil tankers yesterday, the Saudi-flagged Amjad and the Panama-flagged Blue Lagoon I. Both were in the Red Sea according to the U.S. military.

The Houthis late yesterday claimed responsibility for attacking the Blue Lagoon with multiple missiles and drones, but did not make any mention of the Amjad.

 

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