While regional economies have been impacted by global reduction in oil prices, a recovery is expected from 2017 onwards, driven by a growth in oil prices as well as due to an increasing focus on economic diversification, a report said.
The global economic recovery is gathering pace, but stronger growth in advanced economies is likely to be associated with further economic adjustment in some emerging markets, says Moody's Investors Service in a report.
World oil demand will grow more quickly in the rest of 2013 than during the first half due to economic recovery and higher seasonal consumption, Opec said on Tuesday.
The Organisation of the Petroleum Exporting Countries (Opec) in
Arab spring countries face rising social tensions that could thwart an early economic recovery from over two years of political turmoil that has worsened fiscal pressures and threatens macroeconomic stability, a
Gold inched down on Thursday, pulling further away from a one-month high hit earlier in the week, as increasing confidence in the global economic recovery dulls bullion's appeal as a safe-haven investment.
The energy sector has a major role to play in global economic growth and recovery, with its indirect contributions outweighing the already considerable direct effects, according to a new report.
The World Economic Forum report entitled Ene
Global economic recovery is on track, helped by a stronger United States, but threats ranging from high oil prices to European sovereign debt crises could yet combine to create a bout of stagflation, the OECD said.
The Paris-based Organisa
After several strong quarters, the global economic recovery appears to be sputtering. In particular, the industrial sector, a key driver of the bounce-back from a historic worldwide recession, looks to be fraying.
"People need to seriously
World stocks fell to a one-month low on Tuesday on lingering doubts over the global economic recovery and worries about the debt of peripheral euro zone nations, while oil was pushed down by demand concerns and a firm dollar.
A sustained period of higher oil prices would significantly affect developing economies but is unlikely to derail their strong recovery since the financial crisis, a senior World bank official said on Monday.
Andrew Burns, the World Bank