The United States is by far the world’s biggest producer of oil, having produced around 16.6mn barrels of oil on average per day in 2021, Statista reports.
Sales of passenger cars and light commercial vehicles (LCVs) declined by 62% year on year in November to 46,403 vehicles, according to the Association of European Businesses that oversees the industry.
Despite the sharp improvement of the Russia Manufacturing Purchasing Managers’ Index™ (PMI) seen in November, continued contraction in the services sector has kept the composite output stagnating in the reporting month.
The global inflation crisis paired with lacklustre economic growth and an outlook clouded by uncertainties have led to a decline in real wages around the world, a new report published by the International Labour Organization (ILO) has found.
With the reliable supply of Russian gas to Europe a thing of the past since the eruption of war in Ukraine, many European countries have been scrambling to find alternative sources of energy. Many have turned to LNG.
Russian manufacturing firms recorded their fastest improvement in almost six years as the S&P Global Russia Manufacturing Purchasing Managers’ Index™ (PMI) posted 53.2 in November, up from 50.7 in October – the fastest expansion since 2017.
After the Russian military withdrew to the eastern bank of the Dnipro River in Kherson, the residents of the region that had been under Russian rule for eight months celebrated their liberation by Ukrainian troops, reports Statista.
Despite wide-ranging sanctions put in place against Russia since the invasion of Ukraine on February 24, diamonds from the country are still flowing freely into the European Union.
The Kremlin secretly commissioned a series of focus groups to probe public attitudes about the war in Ukraine, and the findings aren’t encouraging for Russia’s president, Meduza reports.
Russia’s international reserves rose to $552.1bn rising by 1.9% (or $10.5bn) over the week as of November 11, the Central Bank of Russia accounced.
Inflation in Ukraine increased by 2.5% in October 2022 compared to September and by 26.6% year on year, Economic Pravda reported on November 10.
Ukraine's international reserves increased by $1.315bn, or 5.5%, in October bringing the total to $25.2bn, UBN reported on November 9.
The seasonally adjusted S&P Russia Manufacturing Purchasing Managers’ Index posted 50.7 in October, remaining above the no-change mark of 50.0 indicating expansion, but slowing down from 52.0 seen in September.
More than 6mn people have returned home in Ukraine despite the war raging on, according to the latest figures from the International Organization for Migration (IOM), Statista reports.
The board of the Central Bank of Russia (CBR) resolved to maintain the key interest rate flat at 7.5% at the policy meeting of October 28, making no key rate cut for the first time in six months, as expected by the market.
Russian industrial output in September 2022 declined by 3.1% year on year versus a 0.1% y/y decline in August, according to the latest data from RosStat statistics agency.
More than six weeks into Russia’s invasion of Ukraine, there’s no end in sight to the conflict that has shaken the world to its very core. The war is also having major repercussions on food security.
While support for Ukraine remains high overall in the United States eight months into the war, Americans’ wallets are feeling the pinch of rising fuel and gas prices following heavy sanctions against Russia.
The International Monetary Fund has said that it expects inflation pressures to be significant around the world in 2022. Inflation is predicted to be worse in developing economies, where price increases are projected to reach 9.9% on average.