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Oil Prices Slump By Over 1% Amid Rise in Output

Oil prices slumped by over 1% on Monday after Saudi Arabia introduced sharp price cuts and output increased among OPEC+ members at large. Amid rising competition with rival producers, Saudi Arabia decided to cut the February official selling price (OSP) of its flagship Arab...

Asian and European Stocks Rise as Japanese Interest Rates Remain Unchanged

Stocks across Asia and Europe rose during early trading on Tuesday after the Bank of Japan (BOJ) decided to keep its interest rates unchanged. The Japanese yen slumped 1.3% to a one-week low against the US dollar while global treasuries declined as well, with...

Global Central Bankers Convene to Discuss Final Interest Rate Decisions of 2023

Central bankers from half of the Group of 10 territories with the most-traded currencies are set to convene to determine their final interest rate policy decisions for this year. Overall, 60% of the world economy is set to determine their interest rate decisions by...

UK Debt Outlook Remains Negative, Credit Agency Fitch Confirms

Credit rating agency Fitch Ratings maintained its "negative" outlook on the United Kingdom's economy, adding pressure to the administration of Prime Minister Rishi Sunak. This puts the UK at risk of losing its AA- rating, which is also held by France, the Republic of...

Oil Majors Pledge to Combat Methane Emissions at COP28

Fifty oil companies, who comprise approximately half of the world's oil production, pledged at the COP28 summit to reach near-zero methane emissions and end routine flaring by 2030, Sultan al-Jaber, president of the climate change summit, announced. Among the signatories are Brazil's Petrobras, Saudi...

COP28 Members to Contribute Billions to Energy Transition Efforts

Several major players have pledged to contribute major sums towards renewable energy efforts at the COP28 summit on Saturday. These members include the United States, the European Union, and the United Arab Emirates. US Vice President Kamala Harris announced that her nation will contribute $3...