Second wave of May frosts to engulf Moscow
Frosts are expected in Moscow this weekend and the next week
forecasts
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IMF: oil price to fall by 16% to $81 a barrel in 2023
The International Monetary Fund (IMF) forecasts price of a barrel of oil will go down this year by 16.2%, to $81.13, according to the IMF’s World Economic Outlook update. "In 2023, oil prices are projected to fall by about …
World Bank slashes global growth forecast for 2023
The World Bank on Tuesday trimmed its global growth forecast for 2023 from 3% to 1.7%. The decrease is due to monetary policy tightening to tame elevated inflation, reduced investment, and disruptions caused by the Ukraine war, the bank …
Fitch improves Azerbaijan's 2022 GDP growth forecast
The international rating agency Fitch Ratings improved the forecast for Azerbaijan's GDP growth from 3.6% (April forecast) to 4.3% in 2022. In 2023-2024, the country's GDP growth is expected to be at the level of 2.3% per …
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 …
OPEC: global oil demand in 2022 to be above pre-COVID year figure
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 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
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
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 …
Russian Ministry of Economic Development: global GDP to decrease to 4.5% in 2020
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 …
China's military has a combat-experience problem. Will this matter in case of war with US?
The outcome of an initial clash could go either way
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?
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
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
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
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
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
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.
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 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 …
