Aramco, the state-owned oil company of Saudi Arabia, is optimistic about the oil market for the remainder of 2023 because demand from the two largest importers, China and India, is anticipated to be high despite an anticipated worldwide slump.   “We believe that oil market fundamentals...

According to OPEC Secretary General Haitham al-Ghais, the demand for oil will reach 110 million barrels per day by 2045. He predicts a 23% increase in the global demand for energy resources by 2045. “Oil cannot be replaced for the foreseeable future. By 2045, the world's oil consumption would rise...

The EC: The European Union will provide farmers affected by Ukrainian grain supplies with €100 million. Member states of the European Union on Monday approved a €100 million aid plan for farmers in Bulgaria, Hungary, Poland, Romania, and Slovakia in response to the purchase of Ukrainian grain....

JPMorgan Chase analysts warned that the US economy may enter a recession in the last quarter of 2023 or the first quarter of 2024. "In the absence of preventive [monetary policy] easing from the Fed (while its expectations suggest two more [interest rate] hikes before year-end), we forecast a more...

In order to combat inflation, the Federal Reserve intends to maintain raising interest rates; hence, a rise in corporate default rates is likely in the near future.   The corporate default rate increased in May, an indication that American businesses are struggling with both the uncertain...

The largest cryptocurrency in the world, Bitcoin, reached a record high on Friday, concluding a week of gains that were aided in part by BlackRock's (BLK.N) decision to launch an exchange-traded fund (ETF) for the cryptocurrency amid increased regulatory scrutiny of the digital asset market in the...

The World Bank will increase the scope of its crisis assistance programs for developing nations. According to World Bank President Ajay Banga, his organization would enhance the number of steps it takes to support developing nations as they anticipate, handle, and recover from crises. "Today we...

The Chinese economy will grow less than expected in 2023 and 2024, from 4.6% to 4.5% and from 6% to 5.4%, respectively, according to Goldman Sachs analysts. Bank of America, JP Morgan Chase, and Swiss bank UBS analysts had already revised their predictions regarding the dynamics of the Chinese GDP...

According to the Ifo Institute's projections released on Wednesday, the German economy will fall more than initially anticipated this year as sticky inflation hurts private spending.   "The German economy is only very slowly working its way out of the recession," Ifo's head of economic...