Forecasts & opinions
The International Energy Agency (IEA) has announced that global oil markets are tightening as OPEC supply falls. Economic threats, as cautioned by the central banks, could also lower demand forecasts.
The decline in demand could last until the end of the year, according to Bloomberg, as Saudi Arabia and its partners curb production. Exports from Venezuela and Iran are also tightened due to economic and political crises.
The outcome of six hours of talking yesterday in Brussels ended in the European Union allowing the U.K. to stay within the union until October 31. This decision was made in the hope that a messy no-deal will be avoided.
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- U.S., Japan may need more tools to shore up banking system - Fed's Rosengren
- UK must be clear what a no-deal Brexit would mean - Bank of England Governor Carney
- German output growth remains moderate in June - IHS Markit
- Eurozone composite PMI hits seven-month in June - IHS Markit