World News: Economic News
Oil prices rise amid fears of escalating tension in the Middle East.
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Singapore, April 12, 2024 (LANA) - Oil prices rose in trading today, Friday, amid fears of escalating tension in the Middle East region, and its impact on crude supplies. Brent crude oil futures rose 0.81% to $90.47 per barrel. As well as, the US West Texas Intermediate crude futures increased by 0.99% to $85.86 per barrel.= ... Read more
OPEC expects strong demand for fuel in the summer months.
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London, April 11, (LANA) - The Organization of the Petroleum Exporting Countries (OPEC), expected on Thursday, strong demand for fuel in the summer months and held to its expectations for relatively strong growth in global demand for oil in 2024.OPEC added in a monthly report, that global demand for oil will increase by 2.25 million barrels per day in 2024 and by 1.85 million barrels per day in 2025. OPEC said in the report, "Despite some downside... Read more
IMF reveals that global economic growth will decline to only 2.8 percent by 2030.
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Washington, April 10, 2024 (LANA) - The International Monetary Fund revealed on Wednesday that global economic growth will decline to only 2.8 percent by 2030, a full percentage point lower than the historical average.The IMF stressed the need to undertake major reforms to enhance productivity, and to take advantage of technology tools such as artificial intelligence, to avoid this decline. This came within a chapter of the Fund’s report on the future... Read more
IMF announces the start of talks with Egypt.
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Washington, January 04, 2024 (LANA) - Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund, announced that, new talks will begin with Egypt in the coming weeks and preparations are being made for the two delayed reviews.Azour said in statements published on the Al Arabiya Business website on Thursday, that the challenges that Egypt went through in 2023 may require additional financing,... Read more
Libya could once again become a global powerhouse for oil and gas, and to attract foreign investment.
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Washington, December 4, 2021 (LANA) - The Ministry of Oil and Gas in the Government of National Unity recently submitted a series of proposals in order to achieve an important goal aimed at improving the regulation of the sector in order to attract more investments by foreign companies, according to an American website specialized in oil affairs and gas. Legal sources who spoke to OilPrice.com last week stated that ("these proposals are broadly in line with the original ideas supporting... Read more
