The first half of 2020 ends optimistically for oil producers. The International Energy Agency (IEA) expects that demand in the second quarter will not fall as much as expected, while oil supply will be reduced (by almost 12 million barrels per day in May). Participants in the OPEC + transaction over the past month reduced supplies by 89% of the adopted plan, including the main suppliers - Russia...

The Bank of Japan once again kept the interest rate at a negative level - minus 0.1%, according to a statement from the financial regulator following the June meeting. Eight members of the regulator were in favor of maintaining a negative interest rate, one was against. The Japanese Central Bank introduced the negative interest rate of minus 0.1% in January 2016. In addition, the organization...

Since the mid-2000s, the US state aerospace agency NASA began to attract private investors in space exploration. In 2006, it launched the Commercial Resupply Services program to use the services of private companies to deliver goods, and, in the future, astronauts to the ISS. The result of this program was a contract with SpaceX, concluded in 2015. The success of Elon Musk, owner of a private...

Following the results of the planned June meeting, the US Federal Reserve System (FRS) left the key rate at 0-0.25% per annum. At the same time, the regulator promised to use the “entire set of support measures” and continue to repurchase bonds at least in current volumes - pointing to medium-term risks for the economy. In the updated macro forecast, the Fed expects a decrease in US GDP by 6.5%...

The coronavirus pandemic and quarantine measures introduced to contain it were a sharp and widespread shock for the global economy, plunging it into a deep recession, according to the Global Economic Prospects (GEP) in World Bank (WB)’s June review. According to the WB forecast, global GDP will decline by 5.2% in 2020, and this is the highest rate since the Second World War. At the same time, a...

The price of a barrel of Brent in the short term will drop to $ 35, Goldman Sachs forecasts. On Monday, its value for the first time since early March exceeded $ 43. The price of oil is likely to decline in the coming weeks due to uncertainty about future demand and the difficult situation of storage congestion. This was reported by Goldman Sachs, reports Reuters. The fall in refining profits...

Bolivian airlines are asking the authorities for $ 100 million in aid due to a serious drop in traffic amid the pandemic, El Deber reported, citing Amaszonas Executive Vice President Luis Verdú. This major carrier, whose routes connect Bolivia with other Latin American countries, has sent the government a proposal for a package of measures to support the industry. Funds of $ 100 million are...

People around the world have begun actively renting holiday homes, according to Airbnb and other services. Now, tourists prefer spontaneous trips around their countries to long overseas trips and tend to open spaces such as beach resorts or mountain villages. Residents of cities are fleeing from the coronavirus threat to nearby places where they rent vacation property, and do it in unexpectedly...

OPEC + countries extended the agreement on limiting oil production on previous terms for one more month. According to the agreements, from July they will comply with the production limit of 9.6 million barrels per day, which is slightly less than in May-June, since Mexico has not yet agreed to extend the deal. On the eve of the meeting, the parties to the agreement tried to make sure that they...