WTO quarterly trade growth indicator remains at nine-year low

The World Trade Organization’s quarterly outlook indicator showed that global goods trade growth was likely to remain weak, with a reading of 96.3, unchanged from February, the lowest since 2010. “The outlook for trade could worsen further if heightened trade tensions are not resolved or if macroeconomic policy fails to adjust to changing circumstances,” the […]

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Refining frenzy worsens fuel glut in Asia

Asia is drowning in Chinese fuels and things are about to get worse over the next three years as new refining capacity in the world’s second-largest economy begins operating. According to Bloomberg columnist David Fickling, the teapots—China’s independent, private refiners—are the main driver of the glut that is choking off Asian refiners’ margins and pressuring prices. […]

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China says to impose additional tariffs on $16 billion worth of U.S. imports

China has decided to impose additional tariffs of 25 percent on $16 billion worth of U.S. imports from autos to steel products, according to an official government statement, as the trade dispute between the world’s two biggest economies escalated. “Approved by the State Council, the Customs Tariff Commission of the State Council has decided to […]

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India’s oil consumption growth declining, data shows

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India’s gasoline consumption has been dropping in recent months after tremendous growth between 2014 and 2016, according to data from the Petroleum Planning and Analysis Cell at the Ministry of Petroleum and Natural Gas. India’s oil consumption fell for the third straight month in March as the demand growth in diesel, petrol and other products came to […]

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COMMENTARY – The outlook for the world economy and resources

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Over the last year, political volatility and uncertainty has increased to very high levels. Policies that aim to reduce rather than encourage international trade have been flagged in many countries. More may follow, writes Dr Huw McKay, Vice President, Market Analysis & Economics at BHP Billiton. Such policies are harmful for consumer purchasing power and productivity […]

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Steel recovery strengthens, but geopolitical uncertainty clouds outlook

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Global steel demand will increase by 1.3% to 1,535.2 Mt in 2017, following growth of 1.0% in 2016, the World Steel Association forecast in its latest short range outlook. In 2018, it forecast global steel demand to grow by 0.9% and reach 1,548.5 Mt. “In 2016, steel demand recovery was stronger than expected with the upside […]

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