Finance

Talks about declining oil demand in China are exaggerated - new OPEC Secretary General

Haitham Al-Gais said that China remains a point of "phenomenal growth. The head of OPEC believes that the demand for oil in the world remains stable despite the threat of recession.

At the same time, he believes that Iranian oil will be easily absorbed by the market and will have no effect on oil prices.

On the other hand, OPEC supply is experiencing problems. According to Haithami Al-Gais, there is only 2-3 million extra capacity in the exporting countries.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

Read next