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...

Italy is threatened by rising pasta prices due to a drop in durum wheat production. One of the largest pasta producers in the country said that there has never been such a thing in the 110 years of the company's work. Italians may soon face rising pasta prices due to falling durum wheat production, reports Il Sole 24 Ore newspaper.  "Our family has been in this business for 110 years, but...

China's State Reserve Administration has announced that it will release crude oil from its national reserves to the market to ease the burden on businesses due to rising commodity prices, Xinhua news agency reported Sept. 9. The National Food and Strategic Stocks Administration said that the release, which will be carried out in batches, is mainly aimed at Chinese enterprises that practice the...

Small and medium-sized Chinese companies that make goods for export have been forced to cut production because of problems with delivery. This is reported by the South China Morning Post (SCMP). Because of this, both they and their customers are facing problems - businesses in China have to cancel orders to avoid overstocking products. The difficulties with delivery, both by sea and by air, are...

Global oil demand in August was 98.4 million bpd, up 5.7 million bpd from August 2020 but 4 million bpd lower than August 2019, according to the U.S. Energy Information Administration's (EIA) monthly short-term forecast from the Department of Energy. "We estimate that the world consumed 98.4 million bpd of oil and liquid hydrocarbons in August, 5.7 million bpd more than in August 2020 but 4...

Global tech giants, including Apple, Google, Amazon, Tesla and Baidu, have decided to design their own microchips. This, writes CNBC, is necessary to avoid shortages in production facilities. In addition, the corporations' own developments will allow them to adapt the chips to their needs. It will help to increase the competitive advantage of the product. Forrester's research director Glenn...

Saudi Arabia has lowered oil prices for Asian buyers more than market participants expected. The country is trying to take market share from competitors, oil buyers said. Saudi Arabia has lowered oil prices for buyers from Asia for the next month, Bloomberg said. The agency notes that the country's actions show its desire to attract buyers. Saudi state-owned Saudi Aramco is lowering the price...

Japan topped the list of the most expensive countries for employers to hire foreign workers. The United Kingdom dropped from first place to second, followed by India, China and Hong Kong. Japan has become the most expensive place for companies to work and live for foreign workers. It surpassed the United Kingdom, which previously topped the list of most expensive countries for expat employers,...