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The OPEC monthly report says that the world oil market may again face an excess of supply due to a sharp increase in production in countries outside the Organization of Petroleum Exporting Countries. As a result of the second quarter, world demand of 120 thousand barrels per day was below the forecast of OPEC. It is expected that by the end of 2018 consumption will be by 20 thousand barrels per day below the forecast, in 2019 - by 40 thousand barrels per day. According to the calculations of the organization, production growth in non-OPEC countries has accelerated and completely covers the needs of the world economy. OPEC countries will have to cut production, losing market share, which has already fallen to a multi-year low of 32.8%.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
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 ...
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, ...
KYC Policy