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oil-price

Economy 2 years ago

PREMIUM
BI sticks with inflation forecast despite high rice, oil prices

Bank Indonesia is sticking with its inflation forecast for this year, despite the recent surge in rice and oil prices. Accordingly, it sees no reason to change course in its monetary policy.

Academia 2 years ago

PREMIUM
The 2024 budget and the dynamics of fiscal risk and space

While the draft 2024 state budget indicates that the economy is progressing well along the path to post-pandemic recovery, the government should keep a close watch on potential fiscal risk from contingent liabilities linked to debt guarantees.

Asia & Pacific 2 years ago

G7 shelves regular Russian oil cap reviews as prices soar - sources

The G7 has not reviewed the cap since March, however, and four people familiar with G7 policies said the group had no immediate plans to look into adjusting the scheme.

Markets 2 years ago

Saudi Arabia, Russia extend voluntary oil cuts to year-end, markets jump

Oil prices rose sharply following the news, with Brent rising above $90 a barrel for the first time since November, despite steady increases in Iranian and Venezuelan oil exports.

Markets 2 years ago

Russia plans to lower oil export discount to $20/barrel

Western sanctions over Russia's invasion of Ukraine, including the $60 a barrel price cap on Russian crude exports and the European Union's import ban, have forced the Kremlin to change the way it taxes oil sales.

Economy 2 years ago

Saudi extends oil cut of 1 million barrels per day

The cut which first took effect for July will continue in August and "can be extended", the official Saudi Press Agency (SPA) reported, citing an energy ministry source.

Markets 2 years ago

Markets extend global rally on US jobs data, oil jumps

Asian equities on Monday built on a global rally after a mixed US jobs report lifted hopes the Federal Reserve will hold off hiking interest rates this month.

Markets 2 years ago

OPEC+ weighs fresh output cuts to boost oil price

Major oil producers led by Saudi Arabia and Russia met Sunday to discuss slashing output further in a bid to prop up prices, talks that are seen as tough amid tensions between Riyadh and Moscow.

Markets 2 years ago

Oil prices soar after output cut

Oil prices soared almost six percent in Asian trade Monday morning after major producers led by Saudi Arabia announced a surprise cut of more than 1 million barrels per day.