Top Western energy corporations are likely to payout billions to shareholders when they report their second-straight quarter of record profits, boosted by excellent refining margins and high oil and gas prices.   After a two-year depression, firms such as Exxon Mobil and Shell's profits have...

The Federal Reserve of the United States will choose for another 75 basis point rate hike rather than a greater move at its meeting next week to combat stubbornly high inflation, according to a Reuters poll of analysts, as the likelihood of a recession over the next year rises to 40%.  ...

The Asian Development Bank (ADB) downgraded its forecast for this year's GDP growth in Asia, particularly China. ADB expected that the Chinese economy would expand by 5% in 2022, but the forecast has since been lowered to 4%. According to ADB, this year's growth for the entire Asian economy would...

The second half of 2022 and 2023 will have lower oil prices, according to Goldman Sachs. According to a memo from the bank's experts, Goldman Sachs has modified its prediction for oil prices in the second half of 2022 and in 2023. Goldman Sachs estimates that in the worst-case scenario, the fair...

On Friday, the CNY dropped to a two-year low versus the US dollar, and is expected to close with the biggest drop since May this week. The Q2 GDP figures, which came in far below expectations and placed doubt on China's economy's capacity to meet its growth target, was the cause of the decrease....

The Sleipner field was partially shut down owing to a gas leak, according to the Norwegian oil and gas company Equinor. "On the Sleipner A platform, a closed location near a turbine was found to have a gas leak on the morning of July 11. The situation was discovered shortly. Work is being done to...

Cost of long-term contracts for the purchase of green electricity has nearly doubled in the European Union. As RES generation costs soar to record highs of €100 per 1 MWh, they are now three times as expensive as developing new green electricity generation. Due to gas shortages and the EU's wish...

According to data issued on Saturday by China's State Statistics Office, the consumer price index (CPI), a major gauge of inflation, increased 2.5 percent year over year in June 2022, slightly exceeding analysts' predictions. In contrast to May's 2.1 percent CPI growth, experts forecasted 2.4...

Former Japanese Prime Minister Shinzo Abe, who was killed on Friday, had hoped to restructure the country's economy. He was the country's longest-serving prime minister, retiring in late summer 2020.   Perhaps the most visible initiative of his presidency was "Abenomics," the economic...