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Organization of the Petroleum Exporting Countrie has kept the forecast of oil demand this year at the level of 1 million 650 thousand barrels per day. At the same time, the organization raised expectations of an increase in the supply of oil from non-OPEC countries by 130,000 barrels per day to 1 million 860 thousand barrels per day. The organization explains the increase in the forecast of supply from non-OPEC countries by reviewing the increase in data on the extraction of this raw material for the first quarter in a number of countries. The USA and Canada are among such countries.
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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