United States Oil Fund Lp ETF News

PHILIPPINE economic managers expect faster economic growth this year, owing to an anticipated stronger fourth-quarter gross domestic product (GDP). The interagency Development Budget Coordination Committee (DBCC) announced on Tuesday that it had hiked its GDP growth assumption for 2021 from 4 to 5 percent to 5 to 5.5 percent. "As we continuously relax restrictions and increase mobility, economic performance is expected to accelerate further in the last quarter of the year. As we continuously relax restrictions and increase mobility, economic performance is expected to accelerate further in the last quarter of the year," it said in a statement read by Budget Assistant Secretary Rolando Toledo during a press briefing following the 180th DBCC meeting. The Philippines experienced substantially more economic activity in the fourth quarter, according to Socioeconomic Planning Secretary Karl Kendrick Chua, estimating that the GDP likely accelerated by 7 to 8 percent year on year. "I hope we can do that.

Just before Diwali this year on November 4, the government slashed the excise duties on petrol and diesel by Rs 5 and Rs 10 a litre, respectively.

The surge in COVID cases is set to temporarily slow the recovery in global oil demand, but the impact of the Omicron variant will likely be more muted than previous waves and will not upend the current demand recovery, the International Energy Agency (IEA) said on Tuesday. The recent spike in COVID cases is set to slow demand recovery in the coming weeks, with jet fuel demand most affected, the IEA said in its latest Oil Market Report for December. Due to new restrictions on international travel, the IEA revised down slightlyby

Dec 14, 2021 (Bloomberg) Oil held steady as the International Energy Agency said the global oil market has returned to surplus with the omicron variant curbing international travel.Brent crude futures were near $74 a barrel, paring earlier gains, as the Paris-based IEA which advises major economies said that rebounding supplies from numerous producers are creating a Read more

NEW YORK, Nov 9 (Reuters) – Oil prices have soared to seven-year highs as the global economy has recovered, and driven the U.S. retail gasoline cost to $3.42 a gallon, the highest in seven years. The White House has said it has steps it can take to address the rising costs for consumers, but its … Read more

Asian Stocks Lower as Omicron Circulates – Fed Decision Asian stocks lower as Omicron circulates – Fed decision – shares mostly fell. Accordingly, the price of oil has entered a phase of decline. The release of the Omicron option has shocked investors; who are already facing central bank decisions this week, including the Federal Reserve’s […] The post Asian Stocks Lower as Omicron Circulates – Fed Decision appeared first on FinanceBrokerage .

WASHINGTON (dpa-AFX) - Oil prices were little changed near $75 a barrel on Tuesday as the arrival of Omicron coronavirus variant, reported in more than 60 countries, forced market participants to

Nigeria has regained the top spot among crude oil producing countries in Africa with the nations crude oil production averaging 1.27 million barrels per day in November. The Organisation of the Petroleum Exporting Countries (OPEC) made this known in its Oil Market Report for December on Monday. For almost a year, specifically between October 2020 []

Oil marketing companies have kept prices of diesel and petrol unchanged across major Indian cities on Tuesday.

The Commander of NNS Soroh, Commodore Patrick Effah, revealed this at a press briefing on Monday in Akassa. The post Navy arrest 20 suspected crude oil thieves in Bayelsa State appeared first on The Eagle Online .

December 13, 2021 – Reuters Western Canada Select heavy blend crude for January delivery in Hardisty, Alberta, last traded at $16.55 per barrel below the WTI benchmark, according to NE2 Canada Inc, having settled at $16.70 per barrel below the U.S. crude benchmark on Friday. Strong throughput on the Enbridge Mainline system is helping offset reduced capacity … Read more

LAHORE: In the upcoming local government elections in Punjab, the Pakistan Tehreek-e-Insaf (PTI) is considering three names for the slot of Mayor of Lahore including Federal Energy Minister Hammad Azhar and Punjab Housing, Urban Development and Public Health Engineering Minister Mahmood ur Rasheed and Senator Waleed Iqbal. Sources in the party told Business Recorder on Monday that Mahmood-ur-Rasheed has a slight edge over other potential candidates. “He is a senior politician and knows all the complexities of local government elections and its dynamics. Hence, the PTI organisers in Lahore believe that he can be the winning horse,” they added. It may be mentioned that he has been in politics since the 1980s. Before joining the PTI, he was an active member of the Jamaat-e-Islami. Previously, he was an MPA from 1988 to 1993 and again from May 2013 to May 2018. He served as the Leader of Opposition in the Punjab Assembly from June 2013 to May 2018. “Federal Energy Minister Hammad Azhar,” they said, “is also a strong candidate.

New Delhi, December 13 Retail inflation inched up to a three-month high of 4.91 per cent in November, mainly due to an uptick in food prices, government data showed on Monday. The Consumer Price Index (CPI) based inflation, however, remained within the comfort zone of the Reserve Bank of India. The government has mandated the central bank to keep the inflation at 4 per cent (+/- 2 per cent). The annual CPI inflation was 4.48 per cent in October 2021 and 6.93 per cent in November 2020. It had eased from 5.3 per cent in August to 4.35 per cent in September and then moved up to 4.48 per cent in October. As per the data released by the National Statistical Office (NSO), inflation in vegetables segment was negative on a yearly basis. However, it was on the higher side as compared to the preceding month. The rate of price rise in the ''oils and fat'' segment was 29.67 per cent year-on-year. The inflation was, however, lower in November over October. On the other hand, inflation in the fruit basket was higher in November over the preceding month.

Saudi Arabia boosted its revenue forecast for next year, with higher oil prices and production volumes poised to deliver the first budget surplus in eight years and the fastest economic growth since 2011.

The spread of the new omicron coronavirus will not have a significant impact on the rate of oil consumption, TASS quotes OPEC''s December report, Report informs.