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Economics Gazette

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December 14, 2017

Commodities

Coal

The EC will not abandon coal regions

A new platform will bring together national, regional and local responsibles for the transformation of coal regions in the EU, said the European Commission. The community has 41 regions in 12 countries where mining coal is developing. With the “Clean Energy for All Europeans” package, however, the EU’s focus is shifting and coal no longer

OPEC secretary

OPEC is moving closer to its goal of rebalancing the oil market

The Organization of Petroleum Exporting Countries (OPEC) is moving closer to its goal of rebalancing the oil market, as the surplus of reserves are shrinking, commented the Group Secretary General, Mohammed Barkindo. The surplus of reserves, including crude oil and petroleum products, has shrunk to 130 million barrels over the five-year average. Last month, the

Oil and gas projects

World Bank stops financing of oil and gas projects after 2019

The World Bank will stop financing oil and gas exploration and extraction projects after 2019, with the exception of some projects in the poorest countries in exceptional circumstances. This was announced today by the financial institution in a communique in connection with today’s climate forum in Paris. As a global multilateral development aid institution, the

China gas import

China has imported record gas quantities in November 2017

China has imported record gas quantities in November. Last month, imports amounted to 6.5 million tons of gas, and the country is also set a record import of raw material for the whole of 2017. China’s natural gas consumption is rising, backed by Beijing’s aggressive policy, that the raw material is widely used to heat

commodity markets

China again disturbs the commodity markets

China again disturbs the commodity markets, which are experiencing pretty bad period last month. The Bloomberg index for commodities has fallen by 4.1% in November and the measure is heading to the sixth losing year out of the last seven. The big question is whether the sell-offs are just a retreat after a recent upsurge

Copper

Copper markets signal for caution among traders

The copper recovers from its biggest one-day collapse in two years, but market attitudes are not particularly straightforward. Although the industrial metal prices remain at high level during the year, there are a number of reasons for caution among traders. The copper reserves held on global exchanges remain high despite the supply disruptions in China

Crude oil reserves

Crude oil prices will keep are current levels in 2018

The crude oil prices will keep are current levels in 2018, according to the analyze of the investment bank Goldman Sachs. According to the experts, OPEC and its allies will observe the agreement on shrinking oil production more strictly. Last week, the oil cartel and other producers, including Russia, agreed to continue with the cuts

Norwegian offshore oil sector

Interest in Norwegian offshore oil sector is decreasing

The business activity in Norwegian offshore oil sector is decreasing, as only 11 companies had applied to participate in the latest 24th auction for the allocation of exploration and extraction licenses for oil and natural gas in the blocks in country’s shelf. This is a significant reduction compared to the previous procedure in 2015, when

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