Russian Energy Minister Alexander Novak said in an opening speech to an OPEC + committee meeting via the Internet that he urged participants in the group’s oil production cut agreement to fully adhere to the pledged cuts. He also said that the monitoring committee should discuss the impact of the …

In a statement published on Thursday, the UK government said that it will ask parliament to use powers in the Internal Market Bill if the European Union engages in a material breach of its duties of good faith or other obligations. “Examples of that would be an insistence that Great …

The chief economist at the World Bank, Carmen Reinhart, said that the global economy’s recovery from the crisis caused by the Corona pandemic may take five years. “There will probably be a quick rebound as all the restriction measures linked to lockdowns are lifted, but full recovery will take as …

The European Union Statistics Office confirmed that consumer prices in Eurozone fell in August, driven by lower energy prices, but core inflation excluding those volatile elements also slowed sharply. The office said that inflation in the 19-nation Eurozone fell 0.4% month over month in August and fell to -0.2% year …

The Bank of England decided to keep its monetary policy unchanged in interest rates, in line with expectations. The Bank of England’s monetary policy statement on Thursday showed that the bank decided to stabilize interest rates at 0.10%. Analysts had expected that the BOE would hold interest rates at 0.10%.

OPEC and its allies led by Russia will hold an online meeting today to discuss the extent of commitment to the agreed production cuts and demand trends in light of declining oil prices and the cooling prospects for economic recovery. The committee, which includes major producers including Saudi Arabia and …

European shares fell from a one-month closing high on Thursday after a disappointing response to the US Federal Reserve’s pledge to keep interest rates low for a long time. By 07:10 GMT, the Stoxx600 index was down 1.1% and is on track to end a four-session winning streak. The Fed …

Data revealed that new car registrations in Europe decreased in July and August, but not at the same level as the previous months, indicating a slow recovery in the European auto sector, which was severely affected by the Corona pandemic. In July, new car registrations dropped by 3.7% year-on-year to …

Gold prices fell Thursday, September 17th, as the dollar rose after the US Federal Reserve painted a positive picture of the economic recovery, but declined to provide concrete indications of further stimulus. By 05:24 GMT, spot gold fell 0.8% to $ 1943.70 an ounce, while US gold futures fell 1% …

Oil prices fell Thursday, September 17th, after rising strongly in the previous two sessions as concerns about weak demand re-emerged as producers in the Gulf of Mexico prepare to resume production after Hurricane Sally. Brent crude futures fell 67 cents, or 1.6%, to $ 41.55 a barrel by 06:28 GMT, …