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Opec forecast on Thursday that world oil demand would rise in 2022 to reach a level similar to before the pandemic, led by growth in the United States, China and India.
Opec’s Secretary General said on Wednesday a trade deal between the United States and China would boost the global economy and would help lift a “dark cloud” over the oil market.
The dollar rose and key US, European and global stock indexes hovered near record highs on Friday as investors embraced the easy monetary policies of major central banks and their message that rising inflation will be transitory.
US consumer spending rose more than expected in September while underlying inflation pressures continued to bubble, keeping the Federal Reserve on track
China’s export growth slowed in October but beat forecasts as booming global demand for holiday seasons, an easing power crunch and mitigating supply
The Biden administration published a sweeping set of export controls, including a measure to cut China off from certain semiconductor chips made anywhere
The US Federal Reserve is pegged to make a fourth straight steep hike in the key interest rate this week as it battles surging costs, with its aggressive stance fueling expectations of a recession.
Exxon Mobil Corp on Friday smashed expectations as soaring energy prices fueled a record-breaking quarterly profit, nearly matching that of tech giant Apple.
Good news on the economy is still bad news for Wall Street, and stocks are falling Friday on worries a still-strong US jobs market may actually make a recession more likely.
The US government reported that its fiscal 2022 budget deficit plunged by half from a year earlier to $1.375 trillion, due to fading COVID-19 relief spending and record revenues