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Economics Gazette

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December 15, 2018

Commodities

OPEC deal

OPEC and Russia quota deal faces new extraordinary problem

When the Organization of Petroleum Exporting Countries (OPEC) and Russia meet this weekend to review their strategy to reduce the global oil saturation, they will face an extraordinary problem: it may work too well. While their quotas, coupled with robust global demand, tighten the market, the crude oil prices rose to a three-year high of

Copper price

Copper price fell significantly due to high reserves

After the long upward trend, the metal prices began to decline. The copper, aluminum and nickel prices fell by more than 2% on Tuesday after investors focused on the dollar’s appreciation and the evidence that there is enough supply on the physical commodity market. The noble metals also moved in negative territory and silver fell

Urals oil

Russian oil variety Urals increased by 26.6% in 2017

The price of the Russian oil variety Urals increased by 26.6% in 2017, according to a news release on the website of the Russian Ministry of Finance. In the period January 1 – December 31, 2017 the average price of this variety was 53.03 USD per barrel. Russia’s budget for 2017 was set at an

Palladium

Palladium becomes more expensive than platinum

Despite the widespread use of electric cars, the palladium used in car engines continues to appreciate on the commodity markets. The metal reached price of 1,094.51 USD per ounce during trading on Tuesday, bringing it close to a 16-year high. And although it lowers on Wednesday, it remains attractive to investors. For the past 2017,

Energy subsidies

Energy subsidies overshadow the problems of the sector

The real cost of energy is key to policy making in the sector. In many countries, however, there are public subsidies that not only keep the price below its market level but also mask the social and environmental costs of production, according to the International Energy Agency (IAE). The organization’s data, in 2016 subsidies for

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