Key Currency Exchange Rates for Friday, 12/17/21

Oil has struggled to recover losses from last month’s broader market slump after topping $66 a barrel in January. While a brighter economic outlook has underpinned demand expectations following a better-than-expected U.S. jobs report, expanding American production remains a challenge to the Organization of Petroleum Exporting Countries and its allies, which are trying to prop up prices via output curbs. Production from shale regions will reach 6.95 million barrels a day next month, the U.S. Energy Information Administration said in its monthly drilling report. The Permian Basin is seen leading the way with an 80,000-barrel increase. Total American output has passed 10 million barrels a day, beating a record set in 1970. Click Read More below for additional information.

American Dollar to Canadian Dollar = 0.768926; American Dollar to Chinese Yuan = 0.147307; American Dollar to Euro = 1.039130; American Dollar to Japanese Yen = 0.007753; American Dollar to Mexican Peso = 0.049512.

American Trucking Associations’ Technology & Maintenance Council and Decisiv Inc., said parts and labor expenses dropped during the second quarter of 2023, according to data released in the latest Decisiv/TMC North American Service Event Benchmark Report. “With rising build rates for new equipment and less mileage reducing the need to operate aging trucks, fleets are finally seeing a definite improvement in parts and labor costs,” said Decisiv President and CEO Dick Hyatt. “The data that Decisiv collects and analyzes for TMC on Vehicle Maintenance Reporting Standard system level codes points to a return to normalized trade cycles and more predictable service and repair costs. Along with greater stability, the highly detailed data and reporting enabled by Decisiv SRM allows fleets and service providers to focus on ways to continue to drive down expenses.”