OPEC-PLUS WATCHDOG URGES GREATER COMPLIANCE WITH AGREED PRODUCTION CUTS
By Brai Odion-Esene, SW4 Insights for Mace News WASHINGTON (MaceNews) – Complete adherence to the recent accord on oil production limits is paramount to rebalancing oil market fundamentals and ensuring stability in the industry, the OPEC-plus watchdog group warned Thursday. The Joint Ministerial Monitoring Committee (JMMC) is co-chaired by Russia and Saudi Arabia’s energy ministers, […]
DATA FLASH: US INITIAL CLAIMS FALL FURTHER, PHILADELPHIA FED JUMPS
––Initial Claims -58,000 to 1.508 Mln; 41.8 Mln Unadj Total Under COVID-–Philly Fed Manufacturing Index Surges to 27.5 in June from -43.1 in May By Kevin Kastner WASHINGTON (MaceNews) – U.S. initial jobless claims filings fell further in the current week, but the pace of weekly declines has slowed and the level itself remains extremely elevated. […]
BANK OF ENGLAND SLOWS ASSET PURCHASES AS CONSUMER SPENDING PICKS UP
— Base Rate Remains at Record-Low 0.1% By Laurie Laird LONDON (MaceNews) – The Bank of England will decrease the pace of its emergency quantitative easing program, noting that the UK has not suffered as much as feared during the economic shutdown implemented in late March. “Recent payments ant other high frequency data suggested that […]