Weve got our forecast down from 1. 7 in april, down to zero point a present. We have already said risks were the downside when we made this forecast was up is down by almost one percentage point. There are number of factors, the continuing crisis in the world that we see and now of course we have the crisis in The Middle East. We have the slowdown in growth in china, we also have high Interest Rates that have continued. We see weak demand across the board for them in most sectors in most geographies. Thats why we cut the forecast. Cut the forecast. How much of this is actual cut the forecast. How much of this is actual policy . Cut the forecast. How much of this is actual policy . Were. This is actual policy . Were hearing from the west this idea of nearshore income of french or income of Rebuilding Supply Chain away from east asia for the friend sharing. How much of this is here to stay and how much of a problem is that . We saw there much of a problem is that . We saw there is much o
OPEC+ is likely to keep oil production unchanged in June due to stable inventories and prices, but may rescind some previous cuts to avoid losing market share to non-OPEC producers.
(Bloomberg) Oil erased some of its losses after plunging Wednesday on a big jump in US crude inventories that added to concerns about weakening demand.Most Read from BloombergUS and Saudis Near Defense Pact Meant to Reshape Middle EastTesla Axes Supercharger Team in Blow to Broader EV MarketNYPD Arrests Over 300 Protesters in Crackdown on College CampusesThe Ozempic Effect: How a Weight Loss Wonder Drug Gobbled Up an Entire EconomyJerome Powell Offered Markets a Reprieve. It Vanished in a Bli
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Oil prices fell at Asia's open on Monday, dragged down by a renewed focus on market fundamentals, as Israel and Iran played down the risks of an escalation of hostilities in the Middle East after Israel's apparently small strike on Iran. The front month U.S. West Texas Intermediate (WTI) crude contract for May, which expires on Monday, fell 12 cents to $83.02 a barrel. On Friday, Chicago Federal Reserve President Austan Goolsbee became the latest central banker to signal a longer timeline for interest rate cuts because progress on inflation had "stalled".