US oil production will increase this year, despite the termination of the OPEC + deal and falling oil prices, follows from the monthly short-term forecast of the Energy Information Administration (EIA) of the US Department of Energy. Compared to last year, the supply volume will increase by 760 thousand barrels per day (bpd), up to 12.99 million bpd, and not by 960 thousand bpd, as previously...

Analysts at the American Goldman Sachs leave open a possibility of a drop in oil prices to $ 20, Bloomberg writes. Today, March 9, after the OPEC + countries failed to agree on an additional reduction in oil production following the results of negotiations in Vienna, the price of Brent oil fell by 20% to $ 35. “We believe that the OPEC and Russia oil price war unequivocally began this weekend...

The growth rate of global passenger air transportation in January was the weakest since spring 2010, when the industry was affected by the eruption of the Icelandic volcano Eyjafjallajökull. Now the industry is restrained by the spread of coronavirus from China, according to a press release from the International Air Transport Association (IATA). The growth rate was only 2.4% year on year after...

On Wednesday, the Hong Kong Monetary Authority (HKMA), which acts as the monetary regulator, announced that the base interest rate would be reduced by 50 basis points to 1.5% per annum, the regulator said in a release. Appropriate measures followed a similar move in the United States, where the Federal Reserve System (Fed) unexpectedly lowered its key rate by 0.5 percentage points to 1-1.25% from...

The administration of US President Donald Trump is discussing measures that will reduce the impact of coronavirus on the economy and markets, writes Bloomberg. In particular, the officials intend to push the Federal Reserve System (Fed) to lower the base interest rate. According to the agency’s sources, Director of the National Economic Council under the White House of the USA Larry Kudlow and...

Bank of America believes that, due to the spread of the new coronavirus COVID-19, 2020 may become the worst year for the world economy since the financial crisis in 2009. Amid the virus outbreak, Bank of America reduced its forecast for global GDP growth for this year to 2.8%. Among the “side effects” of the new disease, experts also called disruptions in the supply of goods and problems in the...

Wealth of the richest man in Europe, owner of Louis Vuitton and Dior, Bernard Arnault fell below $ 100 billion. The luxury sector has become one of the main victims of the coronavirus outbreak. Louis Vuitton and Dior’s owner Bernard Arnault left the list of billionaires with wealth exceeding $ 100 billion, in which he first showed up in June last year. As the Forbes Real-Time rating shows,...

Over the past three years, palladium has risen in price almost four times, turning from a by-product of platinum extraction into the main source of revenue for the largest companies in the industry. This was made possible thanks to a sharp increase in demand for metal as a catalyst in gasoline engines. But, contrary to market laws, the structural deficit of palladium will not disappear in the...

For the first time after the financial crisis, airlines may face a drop in passenger traffic. Lost business revenue due to coronavirus is tentatively estimated at $ 30 billion. In 2020, the airline industry expects a decrease in global passenger traffic by 0.6%, the International Air Transport Association (IATA) reports in its forecast. The organization was forced to change the forecast because...