Barclays Bank has raised its forecast for average oil prices for the next 2022 to $77 and $80 a barrel for WTI and Brent, respectively, Reuters reports. According to the bank's experts, the market should expect a faster reduction in crude inventories and a cautious supply response. The bank...

In response to a request from the United States, Japanese Prime Minister Fumio Kishida has officially announced the decision to open up a portion of the country's national oil reserve. "We are aware of US Vice President (Joe) Biden's announcement of an oil sale. So far, we've been working with...

Japanese authorities will adopt a $692.1 billion package to support sectors and populations most affected by the COVID-19 pandemic. The government will allocate $488.5 billion from the budget, with private businesses, foundations and financial institutions investing the rest. Under the programme,...

The high volatility in the crypto market on Tuesday continued to impact the cart on Wednesday.   In Asia, except for stablecoins that are pegged against the dollar, the value of all other eight of the top 10 cryptocurrencies were down in trading on Wednesday.   There was a drop of...

A new study recently found that net worth globally has increased from $156 trillion in 2000 to $514 trillion in 2020. And almost one third of that rise was seen in China in the same period.   A new rese4rahc report prepared by the research arm of consultants McKinsey & Co. that...

Oil production in the main US oil and gas producing areas, a large part of which is shale oil, will rise by 85,000 barrels per day, or 1%, to 8.316 million barrels in December compared with the current month, the Energy Information Administration (EIA) of the country's Energy Department has...

Japan's GDP for July-September this year is forecast by the government to be minus 3% year-on-year. Real GDP decreased by 0.8% over the same period last year. Personal consumption was down 1.1%. Capital investment in company equipment fell by 3.8%. Imports decreased by 2.1%. The main reason for...

Many businesses and factories in China have been forced to shut down or transfer to a two-day work week, resulting in lower output quantities. As The New York Times points out, this situation will result in more disruptions in the supply of Chinese goods as well as a rise in their pricing. Around...

Saudi Arabia's state-owned oil and gas company Saudi Aramco has raised its November selling prices for oil for Asia, the US and Europe, Bloomberg reported, citing pricing documents. "Saudi Arabia has sharply increased prices for all oil for all buyers," the agency reported. In particular, Saudi...