IMF Cuts Saudi Arabia’s Growth Outlook Due To OPEC+ Oil Cuts

Saudi Arabia’s economy is expected to grow by 1.9 percent this year, the International Monetary Fund (IMF) said on Monday, revising down its forecast of 2.2-percent growth from just three months ago, due to expected lower Saudi oil production as the Kingdom has pledged to overcomply with the OPEC+ oil production cuts.

Zinc hits two-month high as technicals trigger buying

Zinc prices rose to two-month highs on Monday after a break of key technical levels triggered a flurry of buying and as the market worried about historically low inventories.

Asia ACN supply to tighten; China active in export discussions

Supply of February-loading acrylonitrile (ACN) cargoes in Asia is expected to be tight, partly due to an upcoming turnaround in Taiwan and a production outage in Thailand.

Vietnam on US watchlist for currency manipulation

Vietnam is one of 10 countries in the latest watchlist for currency manipulation released by the US Treasury Department.

Better legal framework needed to fuel economic growth

Building a transparent legal framework; improving business climate; adopting flexible policies on imports, exports and foreign exchange rates; protecting environment will be needed to achieve economic growth target of 6.8%.

Russia set for long-term partnership with OPEC

Gazprom Neft, Russia’s third largest oil producer, believes Moscow’s cooperation with OPEC on output will continue into the long term, Deputy Chief Executive Vadim Yakovlev told reporters on Friday.

World seaborne coal trade rose 0.7% in 2019

Seaborne coal trade around the world grew 0.7% last year, helped by higher output in China and Indonesia and more export activity by Indonesia, Australia, Russia and Canada, Germany’s VDKI coal importers lobby said on Friday.
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