According to OPEC's annual review, global energy consumption is projected to increase to 374.1 million barrels of oil equivalent per day by 2050, representing a 24% rise from the end of 2023. This marks the initial evaluation by experts of the global energy consumption of the organization by the mid-21st century. Before, OPEC released its projections for this metric up to the year 2045. The...

The EC has asked the WTO for consultations on China's investigation into EU dairy imports, as stated in a press release by the EC. The investigation is being opposed by the EC. The initial stage in WTO dispute resolution is the consultations. The EU may request the creation of a committee to make a ruling on the investigation if a "satisfactory solution" is not reached, according to the press...

Experts said the U.S. Federal Reserve (Fed) is starting a new two-day meeting on Tuesday, expected to reduce the benchmark interest rate for the first time since 2020 - by 25-50 basis points (bps) from the current 5.25-5.5% per annum. In the previous month, Jerome Powell, the leader of the watchdog, announced that the Fed was prepared to reduce rates. "He mentioned during a speech at the annual...

According to the Financial Times, Canada and Mexico are drawing in billions of dollars in investments for the LNG export sector to enhance its growth. Rystad Energy approximates that the combined investment in the industry in both countries amounts to around $63 billion, encompassing projects currently being built as well as those awaiting a final investment verdict. Kenny Stein, vice president...

The European Central Bank (ECB) reduced all three main interest rates at the conclusion of its meeting on Thursday. The ECB announced that the deposit rate has been reduced by 25 basis points to 3.5%, according to a statement. In March, the regulator stated that the gap between the main refinancing operations (MRO) rate and the deposit rate would narrow to 15 bps, down from the previous 50 bps,...

The additional levies imposed by the EU on Chinese electric car imports will be somewhat reduced, writes Bloomberg citing sources. The revision process is linked to the acquisition of fresh data from businesses and might go for as long as the international dialog does. Specifically, the government observes that thee duties for Tesla will be somewhat lower than 8% (vs. previously projected 9%)....

In August, hedge funds and money managers maintained their pessimistic view on oil. OPEC analysts noted in their monthly report that a notable decrease in net long positions in July led to increased volatility and hastened the fall in oil futures prices, resulting in a 7% decline. Net long positions in ICE Brent dropped to their lowest levels since at least 2011. There was a lot of selling...

According to S&P Global Market Intelligence's calculations, the number of corporate bankruptcies in the US from January to August 2024 hit a four-year peak for the time frame, and was the second highest since 2010. 452 bankruptcies were reported in the country during the eight-month period, which was lower than the 466 recorded in the corresponding period in 2020 and the 604 in January-August...

A group of analysts at JPMorgan Chase & Co., headed by Mislav Matejka, thinks that investors in the U.S. stock market should raise their allocation of securities from defensive sectors due to the deteriorating U.S. economy. According to the experts, rates on shorter-term government bonds are dropping faster than rates on longer-term government bonds. This suggests that the market is...