Monday 20 October 2014
 
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Oil plunges to 4-year low after IEA cuts forecast

Brent crude fell almost three per cent to a fresh low near $86 a barrel on Tuesday, trading at its weakest level since 2010 after the West's energy watchdog cut its estimates for oil demand this year and next. The global oil b

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IEA sees 2015 oil demand growth much lower, supply hitting prices

Demand for oil in 2015 will grow far slower than previously forecast as global economies remain weak, the International Energy Agency (IEA) said, and prices may extend their sharp fall so long as Opec shows no sign of countering a supply surge

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Steel demand forecast drops on China slowdown

The World Steel Association has downgraded its previous short-range outlook for apparent steel usage on the back of the slowdown in the Chinese market as well as in South America and CIS, the association said. At its annual meetin

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US boosts 2015 oil forecast as shale powers push to 10 mbpd

The US government jacked up its forecast for oil production next year by 250,000 barrels per day (bpd) as the boom in shale oil drilling continues to confound expectations of slower growth.   The US Energy Inform

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Iraq forecasts wheat imports above 2m tonnes

Iraq has enough wheat to last until March despite Islamic State militants taking over large areas of fertile land in the north, the head of the country's main grain-importing organisation told Reuters on Thursday. Hassan Ibrah

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Oilfield services spend to rise 47pc

Global oilfield services (OFS) expenditure is forecast to increase 47 per cent from $354 billion in thi year to $521 billion in 2018, according to Douglas-Westwood’s (DW) new World Oilfield Services Market Forecast.  &n

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Opec raises forecast for 2014 global oil demand

World oil demand will increase more than expected in 2014, Opec said on Wednesday, raising its prediction for a second straight month as economic growth picks up in Europe and the United States.   The Organizatio

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Dubai GDP growth forecast at 5pc

Dubai is expected to outperform the UAE GDP with growth forecasts of four to five per cent, buoyed by strong performance of the core sectors of tourism, manufacturing and retail trade, said a report. Business confidence in the UAE

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Apple polishes forecast on top iPhones sales

Apple sold 9 million new iPhones during their first three days in stores after China joined the list of launch countries for the first time, prompting the company to issue a rosier financial forecast. Shares in the company closed

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UN raises 2013/14 forecast for food production

Global food prices fell in August for the fourth month running, according to the United Nations' food agency which again raised its 2013/14 forecast for grain production. The Food and Agriculture Organisation (FAO) said on Thu

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