Libya’s Oil Sector Achieves Unprecedented Production Surge in Over a Decade

The Libyan National Oil Corporation (NOC) announced today, Wednesday,
an unprecedented surge in crude oil and condensate production,
with total output reaching approximately 1.38 million barrels per day.
The NOC also reported that Libya’s Waha Oil Company achieved production of 335,000 barrels per day,
a level not seen in over 11 years, reflecting a positive development in the oil sector’s performance.

Content

Consumer Spending
Financial Assets

Consumer Spending

Steady Growth in U.S. Consumer Spending in October as Expected

Data released on Wednesday showed that the U.S. Personal Consumption Expenditures (PCE) Index grew by 0.3% month-on-month in October, aligning with market expectations, which also projected the same rate.
The previous reading for September had also recorded a 0.3% increase.

On an annual basis, the PCE Index rose by 2.8%, matching expectations that anticipated the same rate,
slightly surpassing the previous annual growth of 2.7% recorded in September.

Financial Assets

U.S. Financial Assets Reach a Record High of $6.7 Trillion

The value of financial assets held by U.S. money market funds climbed to a record high of $6.7 trillion during the week ending November 26, marking an increase of $26.8 billion, according to data released Wednesday by the Investment Company Institute (ICI).

The data revealed that government money market funds, which invest in securities like Treasury bills,
repurchase agreements, and agency debt, rose by $25.1 billion to reach $5.5 trillion.
Additionally, prime funds, which typically invest in riskier assets such as commercial paper,
increased by $2.55 billion to $1.07 trillion.

Investment Highlights:

Individual investments saw a slight rise of $1.1 billion, reaching $2.7 trillion.
Institutional investments surged by approximately $25.7 billion, totaling $4 trillion.

Libya’s Oil Sector Achieves Unprecedented Production Surge in Over a Decade

Libya&#8217;s Oil Sector Achieves Unprecedented Production Surge in Over a Decade

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Libya’s Oil Sector Achieves Unprecedented Production Surge in Over a Decade