Demand for oil will fall more sharply this year than expected, by 8.8 million barrels per day (bpd) to 91.3 million bpd. The main reason for this is the increasing restrictions in the wake of the second wave of the coronavirus pandemic, according to a November report by the International Energy Agency. The report also provides estimates for next year. Here, the growth forecast has even been...

The coronavirus pandemic will fundamentally change people's travel habits, follows from a study conducted by one of the world's largest satellite operators, Inmarsat. The study interviewed 9,500 people in 12 countries. Eight out of ten respondents (83%) said that they will no longer be using air travel to the same extent as before after the pandemic. The survey showed that only 34% of the...

The positive sentiment of financial market investors may disappear if US economic growth is weakened and the negative effects of the pandemic increase, warns the Fed in its semi-annual financial stability report. In addition to near record growth in quotations relative to company profits, a sharp increase in borrowing has been recorded. The debt to asset ratio of public companies in the USA has...

The UK authorities intend to create a long-term investment fund that will focus on economic recovery and also issue the first sovereign green bonds, Finance Minister Rishi Sunak said. The long-term investment fund, which is scheduled to be established within a year, is expected to receive pension funds.  "In order to encourage UK pension funds to channel their half a trillion pounds of...

The overall food price index for the month under review increased by 3 points, or 3.1 per cent by September, to 100.9 points, so global food prices in October showed an increase for the fifth consecutive month, according to a press release from the Food and Agriculture Organization of the United Nations (FAO). The FAO Vegetable Oil Price Index rose 1.8 points, or 1.8 percent, to 106.4 points...

The prolonged counting of votes in the US presidential elections has made investors around the world nervous. By the end of the trading day, however, financial markets seemed to have decided that Joe Biden would become President. The leading indices rose by 2-4% and the dollar weakened as more stimulus measures were expected from the democratic candidate. On 4th November, financial markets were...

Saudi Arabia and other OPEC countries are discussing an increasing decline in oil production due to the worsening coronavirus situation in the world, The Wall Street Journal (WSJ) reports citing sources. In addition, Algerian Energy Minister Abdelmajid Attar said that Russia, Algeria and Iraq have invited OPEC+ countries to maintain the level of oil production decline in the first months of 2021,...

Global foreign direct investment in the first half of 2020 was $364 billion, which is the lowest level since 2013. Compared to the second half of 2019, it fell by 50%. The United States, Switzerland and the Netherlands experienced the strongest decline, while France and Spain were also significantly affected by the pandemic, with increased foreign investment. The global volume of foreign direct...

The European Central Bank (ECB) has in fact asked member governments to raise their prices and budgets to save the eurozone economy, writes Bloomberg. It is expected that the regulator will soon increase its quantitative easing (QE) programme, which will buy government bonds from banks and further reduce rates, thus providing the banking system with additional liquidity for lending. This was...