According to the Centre for Economics and Business Research, there is a global recession coming in 2023. Higher borrowing costs to combat inflation causes a variety of economies to contract.
According to the Centre for Economics and Business Research, there is a global recession coming in 2023. Higher borrowing costs to combat inflation causes a variety of economies to contract.
Oil prices fell to their lowest level since January 1, when oil prices plunged after Wall Street Journal reported that Saudi Arabia, along with other OPEC oil producers, were discussing
According to Senator Chris Coons (a close ally to President Joe Biden), the United States will likely stop arms sales to Saudi Arabia as a result of the OPEC+ decision.
The International Energy Agency warned that a decision by Opec, the Saudi Arabia-led producer cartel, to reduce oil production could lead to a global recession.
After OPEC+ last week announced that it would reduce its oil production target, President Joe Biden said Tuesday that “there will be consequences” for U.S.-Saudi relations.
OPEC+ will be considering a reduction in oil production of more than a million barrels per day (bpd), OPEC sources stated on Sunday.
On Friday, oil prices closed higher, recovering some of the losses from this week’s weak U.S. job growth data. However, they closed the week at their lowest level since February
Analysts believe that OPEC+ will increase oil production by a small 100,000 barrels per hour. This is in direct insult to President Joe Biden, who travelled to Saudi Arabia last
Despite a rising inflation rate and an ever-increasing cost of living crisis, it is still thriving.
Jamie Dimon advised investors to be prepared for an economic “hurricane”, as the economy faces unprecedented challenges.
On Friday morning, delivery of Russian gas to Europe via Ukraine was slightly lower while flows from Germany and Poland via the Yamal Pipeline were also lower.