The euro-area economy could shrink as much as 12% this year and fail to return to its pre-coronavirus size until the end of 2022, according to the European Central Bank. In Continue Reading
A gauge of Russian manufacturing slumped to the lowest level since records began in 1997 as lockdowns across Europe choked demand. The Manufacturing Purchasing Managers’ Index fell to 31.3 in April, Continue Reading
Russia’s oil sector has been at the center of virtually all developments in its modern history. Imperial Russia already produced oil in the early days of the industry from the Continue Reading
You can’t get much more of a “worse case scenario” in auto sales than watching numbers plunge an astounding 98%. But that’s exactly what has happened with new car sales Continue Reading
It would make sense for the OPEC+ coalition of oil producers to begin monitoring the group’s market share to measure how effective the OPEC+ actions are, Russian Energy Minister Alexander Continue Reading
Due to the OPEC+ production cut deal, Russia’s oil production could decline by 15 percent annually in 2020, Russian Energy Minister Alexander Novak told news agency Interfax in an interview Continue Reading
The eurozone economy contracted at a record rate and by more than expected in the first three months of the year and inflation slowed sharply as much economic activity in Continue Reading
The eyes of the retail world are on Germany, the first major Western economy to start reopening bigger stores. Companies large and small, which have been hammered by the COVID-19 Continue Reading
German officials signaled there won’t be a significant further easing of restrictions on public life for at least another week as data showed coronavirus infections in Europe’s biggest economy rose Continue Reading
Norway, Europe’s largest oil producer, will cut production by 250,000 b/d in June and by 134,000 b/d in the second half of the year as part of a broad international Continue Reading
