OPEC says the U.S. energy industry is recovering more quickly than previously expected from the fall in production. In its monthly report, OPEC softened its forecast for the amount by which non-OPEC oil supply will decline this year by 300,000 barrels a day. Production from outside the cartel is now seen falling by 2.4 million barrels a day, or 3.6% from last year’s levels.
Airline and airport groups are calling on governments around the world to provide fresh aid packages for the beleaguered aviation industry. They said they also want current quarantine arrangements to be replaced with a new testing regime. Without these things, they say the industry faces collapse.
Social Security recipients will get a modest 1.3% cost-of living-increase in 2021. That amounts to $20 a month for the average retired worker and is a little less than this year’s 1.6% cost-of-living adjustment.
