The International Energy Agency (IEA) reports that Russia's oil production climbed by 490,000 barrels per day in June, reaching 11.07 million barrels per day. The IEA anticipates a drop in Russian production in light of the European Union's embargo on Russian oil. According to an IEA estimate published in July, Russia produced 330 000 fewer barrels per day of oil in June than it had before the...

IMF Managing Director Kristalina Georgieva stated at a conference in Washington on Tuesday that she intends to urge G20 nations with adequate food capacity to band together in order to help countries in need. "I'll be speaking about the necessity of cooperation at the G20 summit, among other topics. Countries with huge food production capacities should step up because, despite having enough food...

Establishment of a system for rupee-based international trade settlements has been announced by the Reserve Bank of India, which serves as the nation's central bank. Before implementing the method, banks must first receive approval from the Foreign Exchange Department of the Central Bank of India. It has been decided to introduce an additional procedure for invoicing, payment, and settlement of...

According to figures from WindEurope, the amount of electricity produced by wind in the European Union on July 7 was the highest since May, at 18.6%. As a result, the daily increase for the day was 4.2 percentage points, setting a new high since the end of May. In the meantime, the amount of wind energy produced in the EU was 10.33 percent last week and 11.23 percent in June. The current levels...

IMF chief Kristalina Georgieva stated that she could not completely rule out likelihood of a worldwide recession in 2023. She told Reuters in an interview that "the outlook has deteriorated dramatically since our last update." Georgieva listed the spread of inflation, China's sluggish economic growth, and sanctions against Russia as issues facing the world economy. Georgieva noted that there is...

Mohammad Barkindo, the secretary general of OPEC, passed away. Mele Kyari, head of the National Petroleum Corporation of Nigeria stated on his Twitter page, "We have lost our esteemed Dr. Mohammad Sanusi Barkindo." According to the news, Barkindo passed away on July 5 at around 11 p.m. He was 63 years old. It is unquestionably a big loss for his personal family, the NNPC, our nation of...

According to Pfizer CEO Albert Bourla speaking with the Jerusalem Post, the next wave of COVID-19 has already started, but people can continue living their normal lives because to the medications created. According to him, Israeli experts have seen that the vaccine "reduces the odds of getting hospitalized or dying," but not everyone has received the fourth dose of the vaccine and the...

According to Sri Lanka's Central Bank, consumer prices increased by 54.6 percent in June compared to the same month last year. The inflation rate exceeded the 50% threshold, price hikes above which analysts consider to be constituting hyperinflation. Bloomberg surveyed analysts, and their average estimate for Sri Lanka's inflation rate for the month was 43.7 percent; the actual result was...

Han Duck-soo, the prime minister of South Korea, stated that his nation wants to work with China to in a peaceful manner eliminate the nuclear threat posed by North Korea. Speaking at a conference commemorating 30 years of diplomatic ties between Seoul and Beijing, the minister pledged to "work closely with China to peacefully settle the North Korean nuclear problem" (quoted by Yonhap). Experts...