RUSSIA'S GDP UP 1.8%
REUTERS - That was slower than in the second quarter, when the economy grew 2.5 percent, its best annual rate since the third quarter of 2012.
"The year-on-year growth rate was depressed by the fact that there was one fewer working day in Q3 this year than in Q3 2016 – something Rosstat doesn't adjust for," research firm Capital Economics said in a note.
The 1.8 percent expansion in gross domestic product is a preliminary reading and could be revised later this year when the Federal Statistics Service, or Rosstat, provides a detailed breakdown of economic growth factors.
Following the data release, Capital Economics said it was lowering its growth forecast for 2017 to 1.8 percent from a previously expected 2.3 percent.
The Russian economy is recovering from a full-blown crisis caused by a massive drop in prices for oil, its key export, and by economic sanctions imposed by the West over Moscow's role in the Ukraine crisis.
Analysts polled by Reuters in late October had on average expected 2017 GDP growth of 1.8 percent after two consecutive years of contraction.
Officials are more upbeat on Russia's economic prospects, saying GDP could expand by more than 2 percent in the whole of 2017.
|November, 20, 09:35:00|
|November, 20, 09:30:00|
|November, 20, 09:25:00|
|November, 20, 09:20:00|
|November, 20, 09:15:00|
|November, 20, 09:10:00|
REUTERS - India’s natural gas consumption is expected to rise to 70 billion cubic metres (bcm) by 2022 and 100 bcm by 2030, according to a government think tank and the Oxford Institute of Energy Studies, up from 50 bcm now. India burns just 7 percent of what top user the United States consumes in a year with about a quarter of India’s population.
Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks.
WSJ - Light, sweet crude for December delivery rose $1.41, or 2.6%, to $56.55 a barrel on the New York Mercantile Exchange, snapping a three-session losing streak. Brent, the global benchmark, advanced $1.36, or 2.2%, to $62.72 a barrel.
U.S. Rig Count is up 327 rigs from last year's count of 588, with oil rigs up 267, gas rigs up 61, and miscellaneous rigs down 1 to 1. Canada Rig Count is up 24 rigs from last year's count of 184, with oil rigs up 9 and gas rigs up 15.