Big oil s exploration cuts exacerbate supply deficit (SPY -1.2%). Biggest premarket movers: Boeing, AT&T, VF Corp., Starbucks.
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Big Oil s Exploration Cuts Exacerbate Supply Deficit The idea that crude oil could ever again hit three-digit price levels may sound ridiculous at a time when slack demand amid a pandemic has oil stuck in the $50s. Yet one thing any market is not is static, and many expect vaccines to boost demand before this years end. In fact, some are warning about a looming oil deficit. And Big Oil is slashing exploration activities. Reuters reported this week, citing data from Rystad Energy, that new onshore and offshore lease acquisitions by the worlds top five oil companies fell to the lowest
IMF sees Indian economy growing 11.5% in 2021
The IMF revised higher the forecast for India s growth in 2021 by 2.7 percentage points.
BusinessToday.In | January 26, 2021 | Updated 20:21 IST
The IMF expects the Indian economy to have contracted by 8 per cent in 2020.
The International Monetary Fund (IMF) on Tuesday revised upwards the growth forecast for Indian economy to 11.5 per cent in 2021, making it the only major economy expected to register a double-digit growth amidst the COVID-19 pandemic.
In its World Economic Outlook Update, the IMF revised higher the forecast for India s growth in 2021 by 2.7 percentage points, reflecting carryover from a stronger-than-expected recovery in 2020 after lockdowns were eased .
India s economy, the IMF said, is projected to grow by 6.8 per cent in 2022.
The International Monetary Fund (IMF) on Tuesday projected an 11.5 per cent growth rate for India in 2021, making the country the only major economy of the world to register double-digit growth this year amidst the coronavirus pandemic. The International Monetary Fund s growth projections for India in its latest World Economic Outlook Update released on Tuesday reflected a strong rebound in the economy, which is estimated to have contracted by eight per cent in 2020 due to the pandemic. In its latest update, the IMF projected a 11.5 per cent growth rate for India in 2021. This makes India the only major economy of the world to register a double-digit growth in 2021, it said.
Reporter
THE Philippines will likely see a slower pace of recovery this year, as the International Monetary Fund (IMF) and a United Nations (UN) think tank trimmed their growth forecasts amid uncertainty over the vaccine rollout and continued restriction measures.
The IMF cut its gross domestic product (GDP) forecast for the Philippines to 6.6% this year, from the initial forecast of 7.4% given in October. The economy is expected to grow by 6.5% in 2022.
“The projected rebound in 2021 and 2022 is primarily driven by a renewed infrastructure investment push and a gradual recovery of the private sector, supported by accommodative monetary policy and global recovery,” IMF Representative to the Philippines Yongzheng Yang said in an e-mail to
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Washington, January 26
The IMF on Tuesday projected an impressive 11.5 per cent growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic.
The International Monetary Fund’s growth projections for India in its latest World Economic Outlook Update released on Tuesday reflected a strong rebound in the economy, which is estimated to have contracted by 8 per cent in 2020 due to the pandemic.
In its latest update, the IMF projected a 11.5 per cent growth rate for India in 2021. This makes India the only major economy of the world to register a double-digit growth in 2021, it said.