OPEC did not change its forecast for global oil demand growth, expecting an increase of 4.2 million barrels per day in 2022, the organization said in a February report. "In 2022, global oil demand growth is expected to be 4.2 million bpd, unchanged from last month," the report said. Oil demand growth is projected at 1.8 million bpd for Organization for Economic Cooperation and Development...

JPMorgan strategists estimated the fair value of Bitcoin at $38,000. This is 14% less than the cryptocurrency's current market price. Strategists at investment bank JPMorgan Chase estimated the fair value of Bitcoin at $38,000, Bloomberg reports. In calculating the fair value of Bitcoin, they assumed that it is about four times more volatile than gold, Bloomberg wrote, citing a research note it...

The price of aluminum in trading on the London Metal Exchange (LME) rose by 3.3% to 3.236 thousand dollars per ton, which is the highest since 2008, according to Bloomberg. Thus, metal prices have surpassed their October peak and are now closer to their historic high, which, as the agency points out, is $3.38 per ton. The rise in the cost of commodities such as industrial metals, gas and oil in...

China expects low inflation in 2022, counting on monetary tightening in other countries to slow the rise in commodity prices. Inflation in China was 0.9% last year. China's inflation will remain low in 2022 if monetary policy changes in other countries dampen the rise in global commodity prices, Bloomberg reported, citing an official statement from China's National Development and Reform...

According to a study by Credit Suisse, emerging-market zoomers and millennials are more likely to choose environmentally friendly and sustainable products than young shoppers from developed countries. A new study by Credit Suisse has found that millennials and zoomers from emerging economies are buying sustainable products more often than young people in developed countries. According to the...

Oil at $90 a barrel could encourage OPEC+ to step up production, Goldman Sachs analysts say. The price of oil at $90 a barrel may lead to an acceleration of production by OPEC+ countries, said Goldman Sachs analysts. This is reported by Bloomberg. In their view, such a decision of the alliance will lead to a short-term jump in oil prices. However, Goldman Sachs notes that despite the rise in...

Sharp fluctuations in the value of cryptocurrencies threaten to destabilise developing economies, an IMF official has warned. Earlier, the organization called on El Salvador to refuse to stop recognizing Bitcoin as a means of payment, calling it a major obstacle to the allocation of a $1.3 billion loan to the country. The sharp fluctuations in the price of cryptocurrencies can destabilize the...

The number of detections of counterfeit euro banknotes last year was the lowest in the history of the currency, the European Central Bank (ECB) said. "In 2021, 347,000 counterfeit euro banknotes were withdrawn from circulation, a historically low level relative to the number of banknotes in circulation... For every 1 million genuine banknotes in circulation, 12 counterfeits were detected," it...

Installed capacity of renewable energy (RE) power plants will increase by 295 GW in 2022, marking a record second consecutive year of growth, according to the World Economic Outlook 2022 by international consultancy PwC. Experts noted that in 2022 a third of the world's electricity could come from renewable sources, while coal consumption will continue to decline. "Capacity projections suggest...