COGNICURRENT

Middle Eastern oil producers are facing a looming crisis as the conflict with Iran blocks the Strait of Hormuz, leading to storage shortages and potential production cuts.

Iraq faces significant oil production cuts due to the inability of tankers to navigate the Strait of Hormuz.

Workers at Whirlpool are protesting job cuts in Iowa while the company increases production in Mexico, despite support for Trump's tariffs.

Norwegian company Norsk Hydro reported a fourth-quarter operating profit of 5.6 billion kroner, buoyed by high metal prices and production records, though it continues a workforce reduction plan into 2026.

The decision by the United States to reduce tariffs has brought significant relief to Kanpur's leather industry, reviving idle factories and prompting the return of former workers, leading to an expected boost in production.

The Fiskars Group is planning to reduce 310 positions globally within its Vita business area, with over half of the cuts expected to be office roles and the production in Denmark being centralized to Glostrup.

Brazil has wasted about 20% of its potential solar and wind energy production in 2025, equivalent to the output of the Belo Monte hydroelectric plant for ten months, due to cuts aimed at managing overproduction.

Car production in Poland is significantly declining, with the Tychy factory, previously owned by Fiat and now by Stellantis, eliminating a third shift and laying off 740 workers due to dwindling demand for hybrids and rising production costs.

The United States will redirect Venezuelan oil, valued up to $2 billion, previously headed to China, allowing Venezuela to avoid further production cuts due to sanctions.

The agreement with the United States will allow Venezuela to redirect oil worth up to $2 billion to the U.S., avoiding further production cuts due to sanctions.