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 …
The Organization of Petroleum Exporting Countries (OPEC) keeps the forecast of oil demand growth at the level of 4.2 mln barrels per day in 2022 and at the same time slightly revises the growth estimate as of 2021 year-end to 5.7 mln barrels …
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. …
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 …
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 …
According to the forecasts of the Ministry of Economic Development of the Russian Federation for 2021-2023, this year’s global GDP will decrease by 4-4.5%. In a significant number of countries, economic growth is constrained by …
The outcome of an initial clash could go either way
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 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 …
Saudi Arabia and its neighbors may face a serious crisis in the near future, Bloomberg columnist David Fickling believes. "The current price war in oil markets will only hasten the moment when the …
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. …
So if there is no information about all the oil in the world, how much faith should one put in global inventory estimates
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. …
