The coronavirus (Covid-19) outbreak, which supposedly started in a wet market in Wuhan, China, has not only caused global panic and claimed thousands of lives, it has also hurt numerous business sectors. This includes the fossil fuel energy sector, which...
Petrostates — governments that largely depend on oil revenues to sustain themselves — could be in their twilight, Chris Miller wrote recently for Foreign Policy. The Covid-19 coronavirus global epidemic has seen oildemand tailspin. Russia’s rejection of OPEC+ demands to...
US President Donald Trump has announced a package of measures to counteract the economic effects of the new coronavirus. On Monday, he urged Congress to draft a bill that would, inter alia, include tax relief for workers and loans for...
Coronavirus is pushing the UK to the brink of recession according to Goldman Sachs, a leading global investment banking, securities and investment management firm. The American firm is predicting the UK’s economy to shrink by -0.2 by the end of...
Economics and government policies are often intertwined, both working in tandem to sustain one another. When the economy of a state is healthy, the government looks to preserve it and if it slides too far the other way, politicians rush...
Oil prices plummeted by more than 30% on Monday, March 9 amid Coronavirus fears. A price war between two of the world’s largest oil producers, Russia and Saudi Arabia, pushed investors, already frightened by the coronavirus outbreak, to liquidate assets....
Russia broke from OPEC on Friday, refusing calls to decrease oil production. President Vladimir Putin ordered his energy minister, Alexander Novak, to inform Saudi Prince Abdulaziz bin Salman of the decision, a message delivered early Friday morning at OPEC headquarters...
“The biggest danger since the financial crisis”. The Organisation for European Cooperation and Development (OECD) does not mince its words in it its recent Interim Economic Outlook concerning the macro-economic effects of the coronavirus on the global systems. The OECD...
An economy in decline and foreign policy on hold. This is an abstract of what China is currently experiencing. Life hasn’t been easy for Xi Jinping and his country as the coronavirus outbreak wreaks havoc across the world. Being the...
As the coronavirus spreads beyond China and has already claimed more than 2,700 lives and infected in excess of 78,000 people, worries are increasing about whether the outbreak has become a pandemic and how it can be prevented and treated....