Brent crude slid below US$100 a barrel on Monday for the first time in 14 months as Chinese and U.S. data pointed to slower-than-expected growth in the world’s top oil consumers.
Weak economic growth combined with ample supply has pushed oil prices down from a high for the year above US$115 hit in June, complicating efforts by central banks to ward off deflation and putting pressure on the budgets of major oil producers.
Brent crude fell to a fresh 47-month low on Wednesday before recovering to around US$84 a barrel, as faltering global growth curbed demand for fuel at a time of heavy oversupply.
Oil saw its biggest daily fall in more than three years on Tuesday after the West’s energy watchdog slashed its forecasts for world oil demand for this year and 2015.
Core members of the Organization of the Petroleum Exporting Countries appear to be focused on fighting for market share rather than on cutting production to shore up prices.
LONDON — Brent and U.S. WTI crude oil prices fell to their lowest levels in almost six years on Tuesday as a big OPEC producer stood by the group’s decision not to cut output to tackle a glut in the market.
Oil prices have fallen 60 per cent from their June 2014 peaks, driven down by rising production, particularly U.S. shale oil, and weaker-than-expected demand in Europe and Asia.
BEIJING: China's ailing economy showed few signs of improvement in May, with factory output steadying but investment growing at its slowest rate in nearly 15 years, pointing to further weakness unless Beijing ramps up its stimulus efforts. A flurry of data from power output to retail sales released on Thursday showed no convincing pick-up in the world's second-largest economy despite three interest rate cuts since November.
PARIS — The world economy risks being bogged down in a low-growth spiral unless measures are taken to spur demand and incite businesses to boost their stubbornly sluggish investments.
That’s the conclusion of the latest economic forecast from the Organization for Economic Cooperation and Development, the Paris-based body made up of 34 of the world’s most developed countries.
NEW DELHI: India's manufacturing sector witnessed a modest growth in May, but going ahead "weak demand conditions" may persist that could have a negative impact on the industrial output numbers, says an SBI research report. The SBI Monthly Composite Index, a leading indicator for manufacturing activity in Indian Economy, inched up from 46.8 in April 2015 to 53.8 in May 2015. However, the outlook is bearish.
Post Holdings Inc (NYSE:POST) has hiked 8.8% over the past two trading days despite providing a weak outlook for the year ahead. This is due to the management making various announcements at the earnings call that uplifted investors’ sentiments.
While Post still expects a weak first quarter for this fiscal year (1QFY15), it expects an improvement to start soon after that, strengthening the long-term investors’ confidence in the company and pulling up Post’s valuation.
Wal-Mart Stores, Inc. (WMT) announced its new growth strategy at the company’s 21st Annual Meeting for Investment Community on October 15. Addressing the meeting, President and CEO Doug McMillon outlined the company’s growth strategy as well as plans for improving customer experience, and expressed positive sentiments about the company’s positioning to deal with the ever-evolving customer base.
Brent crude oil sank below $101 a barrel on Monday to a nine-month low after bleak Chinese and U.S. data stoked worries of a slowdown in economic growth in the world’s top oil consumers.
China’s economic recovery unexpectedly stumbled in the first three months of 2013, with growth easing to 7.7% from 7.9% in the final quarter of last year. Economists had forecast 8% growth.