Daily Management Review
Economics

US Convinces Other Oil Importers To Release Oil Reserves To Challenge OPEC+

After OPEC+ producers repeatedly disregarded demands for extra petroleum, US President Joe Biden's administration stated on Tuesday that it will release millions of barrels of oil from strategic reserves in collaboration with China, India, South Korea, Japan, and the United Kingdom to attempt to...

Flash PMI Shows Factory Activity Growth Of Japan In November Fastest In Almost 4 Years

With the relaxation of the restrictions imposed by authorities to prevent the spread of Covid-19, there was an acceleration of output which pushed the pace of growth of factory activity in Japan in the month of November was the fastest in almost four years. That was despite a surge in input costs...

Barclays raises oil price forecast for 2022

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...

Japan's prime minister announces sale of part of Japanese oil reserves

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 allocate unprecedented sum to support the economy and people

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,...

Eight Of Top 10 Cryptocurrencies Continue To Fall, Analysts Cite Multiple Factors

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...

US Falls Behind China In Wealth Growth Over Last Two Decades, Finds Mckinsey Report

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...

US expects production growth in the country's largest oil and gas areas

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 shows minus 3% year-on-year

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...

China's energy crisis threatens to worsen global deficits

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...
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