The Kremlin will allow Russia’s budget deficit to more than triple this year from 0.5 percent of GDP to 1.7 percent as oil prices are projected to remain in their current $60 neighborhood for weeks or months to come.
Tag: Oil Prices
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OPEC+ MAINTAINS OIL SUPPLY CUTBACKS, SAUDIS CUT PRICES FOR SOME MARKETS
The Organization of Petroleum Exporting Countries and allied nations have agreed to delay January’s planned production increases until 31 March, then spread the increases over the following 18 months.
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IRAN CALLS OUT G7 HYPOCRISY AFTER GROUP CONDEMNED TEHRAN’S RETALIATORY STRIKE ON ISRAEL
The U.S.-led G7 last week condemned Iran for defending itself against recent Israeli war crimes in the region and discussed the appropriate response to punish Tehran—prompting the Iranians to call out the group’s hypocrisy.
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WORLD ECONOMY WILL GROW 3.2 PERCENT THIS YEAR, OECD SAYS
Falling interest rates and the slowdown in inflation is giving households more money to spend, which will enable the global economy to grow 3.2 percent this year and by the same percentage in 2025, according to an analysis by the Organization for Economic Cooperation and Development (OECD).
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OIL PRICES DOWN AS ECONOMIES GO DOWN
Oil futures fell last week in parallel with China’s declining imports and a generously supplied market.
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ISRAEL ACCUSED OF KILLING ANOTHER IRANIAN OFFICER IN SYRIA
Israel is suspected of carrying out another illegal strike inside Syria, killing a member of Iran Islamic Revolutionary Guard in the latest escalatory attack in the region.
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OIL PRICES FALL CLOSE TO BEAR MARKET; SAUDIS, OPEC MAY CUT PRODUCTION FURTHER
The price of Brent crude oil for December delivery has collapsed from about $90 at the end of October to below $80 last week as global oil supplies rose more than expected. It traded as low as $76.79 on 16 November. A price of $75.48 would be a 20-percent decline from...
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OIL PRICES PASS $90 AS MIDEAST WAR ESCALATES
The price of benchmark Brent crude oil broke through $90 on 13 October as Israel prepared to launch an armed assault in Gaza and speculation grew that Iran might intervene on behalf of terrorist group Hamas.
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RUSSIA HALTS EXPORTS OF GASOLINE AND DIESEL FUEL
With world oil prices closing in on $100 a barrel, Russia has banned exports of diesel fuel and gasoline, with exceptions for some low-grade diesel and for supplies to four adjacent ex-Soviet states.
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OIL PRICES CLIMB AS INFLATION SLOWS AND SUPPLIES TIGHTEN
World oil prices reached their highest in three months last week as inflation continued to slow in key nations and OPEC+ decided Friday to maintain its current production cut of one million barrels a day, begun in the spring, through September.As a result, the Saudi kingdom will produce about nine million barrels a day next......
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