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The International Energy Agency lowered the forecast of the global oil demand for 2018 by 100 thousand barrels per day to 99.2 million barrels per day. The agency's report says that demand in 2018 has been revised downwards by 60,000 barrels per day, both in the countries of the Organization for Economic Cooperation and Development and in countries not included in the OECD. IEA experts note that in the second half of the year the demand growth rate is expected to slow down due to the increase in oil prices. The IEA report says that the forecast is revised against the background of improved weather conditions and the recent jump in oil prices.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
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