Global GDP may grow by 5.7% this year and by 4.5% next year, according to an updated forecast by the OECD. Compared to previous estimates of the organisation, the global growth forecast has been reduced by 0.1 percentage point for 2021 and increased by the same amount for the next year. Overall, says the OECD, global GDP has already exceeded the pre-pandemic level. At the same time, it is 3.5%...

Royal Dutch Shell is leaving the Permian oil and gas basin (located in Texas and New Mexico). The company has announced that it will sell all of its assets in the region to US-based ConocoPhillips. The deal, valued at $9.5 billion, will be paid entirely in cash. After its completion, scheduled for the fourth quarter of 2021, Shell will spend $7 billion on dividend payments to shareholders....

Oil prices will be at $70 a barrel in the first quarter of 2022, Iraq's oil minister predicted. Earlier this week, Brent rose above $76 for the first time in a month and a half. Oil prices will be around $70 a barrel in the first quarter of 2022. This was announced by Iraqi oil minister Ihsan Abdul Jabbar, Bloomberg reports. According to the minister, the price will be affected by the...

Credit Suisse investors will have to pay $145 million to allow fintech startup Greensill Capital, which filed for bankruptcy earlier this year, to continue its existence, the Financial Times reports. The British-Australian startup, once considered one of the most successful in its sector, declared bankruptcy earlier this year. Credit Suisse, which had once allocated $10bn to the startup in its...

The European Central Bank currently does not expect interest rates, which have been low for a long time, to rise in 2023, said a spokesman for the regulator. The last ECB meeting was held in September, following which the watchdog kept the base rate at zero level. In this case, the Governing Council of the ECB at the meeting admitted the possibility of reducing the rate of asset purchases within...

US retail sales rose 0.7% month-on-month to $618.7bn in August, the US Department of Commerce said on Thursday, 16 September. August's increase came as a surprise - analysts polled by Reuters expected a 0.8% drop in sales amid the spread of the delta strain of coronavirus. In July, retail sales fell 1.8% (based on revised Commerce Department figures). The growth was helped by good online sales,...

The value of shares of producers and distributors of cannabis has been falling since the beginning of the year, in some cases the securities have already lost about 40%. The value of shares of Canadian producers and distributors of cannabinoids for medical and recreational purposes has been declining since the beginning of this year.  Canopy Growth Corporation plummeted 39% to $15.05 on...

Global oil demand remains under pressure due to the spread in Asia of the delta strain of the coronavirus: in the third quarter, consumption may decrease by 310 thousand bpd, according to the September review of the International Energy Agency (IEA) on the oil market. Nevertheless, demand could rise to 99.1 million bpd by the end of the year, up 4.7 million bpd from the end of 2020 (but still 1.1...

Electricity prices in European countries have risen to record levels, according to The Wall Street Journal. According to analytical company ICIS, the price per megawatt-hour in the UK has risen almost threefold since the beginning of August, and almost sevenfold since September 2020, amounting to €331. This is a record since 1999. In Germany, the increase was less significant; nevertheless, the...