Into the weekend. This as president xi brings president obama in order to try to get they gaucnegotiations ba track again. And fosun chairman goes missing. Welcome to the show. We have got the Ieas World Energy outlook breaking and hitting the wires at the moment. As we said on the supply front they said the evidence that the saudiled strategy is starting to work. Theyre taking a toll on nonopec supply with annual growth shrinking in november however they do say that they see iranian oils ramping up and that is the big unknown for next year. On the demand side, theyre saying that Lower Oil Prices have driven demand growth to a five year high as motorists fill up their tanks. However that is likely to have peaked in the Third Quarter saying consumption is now going to be on the wane and in 2016 we might see demand starting to slide a little bit. Oil price versus been soft this week. One of the reasons why equity markets have been soft as well. Wti below the 40 mark and comfortably below
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BusinessWorld
May 10, 2021 | 12:34 am
Localized lockdowns have been implemented due to the rising number of coronavirus cases. â PHILIPPINE STAR/ MICHAEL VARCAS
PHILIPPINE gross domestic product (GDP) likely declined at a slower pace in the first three months of 2021 compared with the previous quarters, a
BusinessWorld poll showed, as a renewed surge in coronavirus infections and a stricter lockdown imposed in Metro Manila and adjacent provinces dampened recovery.
A
BusinessWorld poll of 18 analysts yielded a median GDP decline of 2.6% for the first quarter, easing from the -8.3% in the fourth quarter of 2020, but still slower than the -0.7% in the first quarter of 2020.