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with just one week left until treasury officials say they will run out of cash to pay its bills, the mood music from washington was upbeat. but a deal can be done to avoid default. i want to be clear. the negotiations we are having with speaker mccarthy are about the outlines of what the budget will look like, not about defaults. it is about competing visions for america. nothing will be resolved until we resolve them all. we know where our differences lie. we worked well past midnight last night, we are back at it today, trying to get to the conclusion so we can solve this problem. failure to reach an agreement could have global implications. fitch, one of the major credit rating agencies warned of a potential downgrade to the us credit rating if the deal isn t done. the us treasury department seized on this, saying it underscored the need for swift bipartisan action. the biggest sticking point remains spending. if they don t cut enough, they won t win over republicans ....
the mood in washington. with just one week left until treasury officials say they will run out of cash to pay its bills, the mood music from washington was upbeat. but a deal can be done to avoid default. i want to be clear. the negotiations we are having with speaker mccarthy are about the outlines of what the budget will look like, not about defaults. it is about competing visions for america. nothing will be resolved until we resolve them all. we know where our differences lie. we worked well past midnight last night, we are back at it today, trying to get to the conclusion so we can solve this problem. failure to reach an agreement could have global implications. fitch, one of the major credit rating agencies warned of a potential downgrade to the us credit rating if the deal isn t done. the us treasury department seized on this, saying it underscored the need for swift bipartisan action. the biggest sticking point remains spending. if they don t cut enough, they wo ....
Around the globe, and the white house has turned a blind eye, especially the last year or two because its been trying to smooth relations between iran and the western world. But now if the white house decides to enforce those sanctions, that means supply from iran would be cut off and coming at a time when oil supplies have been tightening because saudi arabia and russia, the two largest exporters of oil in the world, who are also part of 0pec , have collectively been reducing 1. 3 Million Barrels of oil per day since july and there is a good chance it may continue next year as well. So if this happens there will be a scenario where there will be less oil supply, more demand, and that leads to higher prices. Even though Major Oil Producers are not directly involved in the conflict it has still sparked uncertainty as far as oil prices are concerned. Talking about that wa ....
Is still depending on exports so if that is facing a recession, there is still that impact on china. so, it is demand driven. but having said that, i don t think, for the argus consulting team, we never saw $100. we do see that going forward. in the second half of this year. assuming 0pec plus, and that includes russia, delivers on the output cuts that they had announced in early april, we do see that the market should become tighter, in terms of supply and that we should be moving towards the sort of $80 or low 80 in the second half of 2023. so, inching higher but not going up to a hundred. i don t think we ever saw $100, not in the short term. azlin ahmad speaking to me a little earlier. now to pakistan which has cut its gdp growth estimate for the fiscal year ending injune to what is reported to be one of ....
Alternative flight or request a refund. ba has suffered a series of reputation damaging it failures in the past couple of years. turning now to oil prices. china s reopening, and production cuts and russia should have given a boost to crude oils, which some analysts were forecasting to go above $100 per barrel. but instead they have been in a lull in the $70 range. at the next meeting of the organisation of petroleum exporting countries, our guest says she is expecting the cartel to stick with the current production level instead of announcing further cuts. for a closer look at the lagging demand, i spoke with azlin ahmad with commodities research house argus. china s demand should be growing but i think to some extent, the growth may not have been as strong as the market expected. we did see that china manufacturing pmi in april dipped a bit below 50. china s manufacturing ....