The International Energy Agency (IEA) has reported that oil markets are set to face a supply deficit for the duration of this year due to ongoing production cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+.
The United States is off to a promising start in the new year as the January deficit shows a significant drop, primarily due to a simultaneous rise in receipts and a decline in tax refunds. This positive development is a testament to the strength of the nation’s economy and the effectiveness of recent policy measures.
The United States Treasury has announced its plans to hold the largest-ever series of bond auctions in an attempt to address the growing budget deficit. Amidst the financial strain caused by the ongoing pandemic and increased government spending, this move is aimed at ensuring the availability of funds for various government programs.
The global copper market is facing a significant shift that could push prices to unprecedented heights by 2025, warns a group of renowned analysts. With increasing demand coupled with supply constraints, copper prices could surge over 75% in the next four years, potentially reaching record highs. This development has raised concerns about potential deficits and their impact on various industries and economies.
