Yesterday, Ben Bernanke, Chairman of the Federal Reserve, gave a speech in which, as expected, he said the Fed will keep the US basic interest rate unchanged between 0 and 0.25%. The decline in the US inflation rate (see…
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OPEC recent report shows no change in its oil production in May 2011
According to the recent Organization of the Petroleum Exporting Countries report the OPEC oil production remained unchanged in May compared to April 2011: OPEC’s crude oil production remained nearly unchanged in May as it reached 28,974 thousand bbl/d compared to…
China’s holding of US Treasuries rose in April
According to a recent report, China’s holding of US Treasuries rose during April for the first time since in half a year; this news comes after China has reduced its holding in March by $9.2 billion from February. During April…
IEA raised projection on oil demand again – IEA report
According to the recent IEA – International Energy Agency monthly report on oil markets around the world for the month of May 2011: OPEC’s oil output rose to 29.18 mb/d, but is still below the pre-Libya turmoil era by 1.25…
Euro Area annual inflation declined to 2.7% rate – May 2011
The Eurostat published today that the Euro Area inflation rate reached 2.7% (Y-2-Y) during May 2011. This is a moderate decrease from April’s inflation rate of 2.8%. The EU inflation rate during April reached 3.2%, a decrease from 3.3% during…
US inflation rose by 0.2% in May
In the recent report of the Bureau of Labor Statistics, the US inflation for May 2011 inclined by 0.2% or in annual terms by 3.6%. The prime reason for the increase was the incline in Food index that rose…
China’s industrial production slowed down – June 14
As expected, China’s industrial production index has moderately declined by 0.1 percent points during May compared with April 2011; nevertheless, this index was 13.3% above the rate on a year to year scale. Despite a slowdown in the growth rate…
S&P downgraded Greece’s credit rating to CCC
The bad news keeps on coming on Greece, this time it comes from the S&P; the rating company downgraded Greece’s long term credit rating from B to triple C. According to S&P, Greece will need 153 billion euros between…
Saudi Arabia signals to raise oil production
Following the OPEC meeting from last week, in which OPEC ministers didn’t reach an agreement as to the whether to raise oil production quota, it’s currently reported that Saudi Arabia may raise its oil production quota in the months to…
EIA recent outlook oil market will further tighten
EIA outlook oil market for 2011 and 2012 was released yesterday. According to the report, despite the recent drop in gasoline prices in the US as the crude oil prices curbed their rises; there is a good chance that the…