forecasts

UN trade body lowers global GDP forecast

UN trade body lowers global GDP forecast

The United Nations Conference on Trade and Development (UNCTAD) lowered its global gross domestic product (GDP) forecast for 2022 from 3.6% to 2.6%. In the agency’s new report, world growth estimates were hit by downside risks to …

Goldman Sachs sees Brent oil hitting $100/bbl in Q3 2022

Goldman Sachs sees Brent oil hitting $100/bbl in Q3 2022

Goldman Sachs expects oil prices hitting $100 per barrel in the second half of this year, citing a lower than expected hit to demand from the Omicron coronavirus variant coupled with increased supply disruptions and OPEC+ shortfalls. …

Oil could plummet to $10 by 2050, energy consultancy says

Oil could plummet to $10 by 2050, energy consultancy says

The price of oil could plunge to as little as $10 a barrel by 2050 if the world succeeds in electrifying the energy market and meeting Paris Agreement goals, energy research and consultancy Wood Mackenzie said in a report. The …

IMF approves $113.9 mln to support Georgia amid pandemic

IMF approves $113.9 mln to support Georgia amid pandemic

The International Monetary Fund (IMF) Executive Board has completed the Seventh Review of Georgia’s economic reform programme supported by a four-year extended arrangement under Extended Fund Facility (EFF) and approved a disbursement of …

S&P approves Azerbaijan’s ratings at BB+/B level

S&P approves Azerbaijan’s ratings at BB+/B level

The S&P Global Ratings international rating agency affirmed at BB+/B level the long-term and short-term sovereign credit ratings of Azerbaijan’s in local and foreign currencies, while the outlook for the rating was maintained as …

Oil price to rebound above $100?

Oil price to rebound above $100?

Some experts predict that investment in oil-and-gas production will dry up and propel crude prices back above $100 a barrel, The Wall Street Journal reported. "That funding pressure is going to be massive. It's going to be …

Medvedev: Russia hit by three economic shocks

Medvedev: Russia hit by three economic shocks

Russia will not escape a general economic recession due to the coronavirus pandemic  and now our country is hit by three economic shocks, Deputy Chairman of the Russian Security Council Dmitry Medvedev said in his article published in …

Global gas demand on course for biggest annual fall on record

Global gas demand on course for biggest annual fall on record

The coronavirus crisis and a very mild winter in the northern hemisphere have put global natural gas demand on course for the biggest annual fall on record, the International Energy Agency said in its annual outlook. Global gas …

Ministry: Russia’s unemployment to continue rising

Ministry: Russia’s unemployment to continue rising

The number of officially registered unemployed Russians has currently reached 1.6 million, while this number is expected to keep growing in May and June, Russian Minister of Labor and Social Protection Anton Kotyakov said. He noted …

ADB: virus' economic impact could hit $8.8 trillion

ADB: virus' economic impact could hit $8.8 trillion

Global economic losses from the coronavirus pandemic could reach up to 8.8 trillion dollars, or nearly 10% of the world economy's output, the Asian Development Bank (ADB) said. The Manila-based bank said the forecast for …

IEA revises oil demand forecast

IEA revises oil demand forecast

Oil demand is still set for a record fall in 2020, the International Energy Agency (IEA) said on Thursday, but it trimmed its forecast for the drop citing easing lockdown measures. Demand is expected to fall by 8.6 million barrels …

Experts revise projected death toll from coronavirus in U.S.

Experts revise projected death toll from coronavirus in U.S.

The death toll from COVID-19 in the United States could reach 147,000 by August 4, Director of the Institute for Health Metrics and Evaluation at the University of Washington,  Dr. Christopher Murray said. Murray outlined a …

Moody's revises Saudi Arabia's credit outlook

Moody's revises Saudi Arabia's credit outlook

Moody's downgraded Saudi Arabia's sovereign outlook to negative from stable, citing increased downside risks to the kingdom's fiscal strength from the oil rout.  "The shock transmits mainly through the loss in …

EIA forecasts Brent may reach $183

EIA forecasts Brent may reach $183

The Energy Information Administration (EIA) in its Annual Energy Outlook 2020 projects the price of Brent crude oil to reach $183 per barrel by 2050. That is possible in the case of high costs and fewer easily accessible resources. …

Brent oil price to return to $90?

Brent oil price to return to $90?

The Brent oil price will return to $90 per barrel, Saxo Bank said in one of its Outrageous Predictions released today. The bank also said that Russia and the OPEC states will announce a new significant reduction of oil output in 2020. …