• About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV
Monday, May 23, 2022
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
No Result
View All Result

Oil prices drop after IMF’s review of global economic growth

Pius EdukubyPius Eduku
October 11, 2018
Reading Time: 1 min read
ShareShareShareShare

Oil prices fell on Tuesday [October 10, 2018] following the IMF’s downward review of the global economic growth forecasts.

Reuters however reports that markets were supported as Hurricane Michael closed nearly 40 percent of U.S. Gulf of Mexico oil output and U.S. sanctions restricted Iranian exports.

The Fund reduced the global economic growth from 3.9 to 3.7 percent.

The IMF also raised concerns that demand for oil products may slump as well.

But on Tuesday, the price of Brent crude went down by 44 cents or about half a percent; to reach 84.56 dollars a barrel.

This was after a 1.3 percent gain earlier in the day.

Again, U.S. West Texas Intermediate (WTI) crude was down by 41 cents, also about half a percent, to 74.55 dollars a barrel, after rising nearly 1 percent in the previous session.

The decline in prices may impact Ghana in two ways; that the country will receive less for the exports of crude during the period which will affect projected oil revenue.

On the other hand, the country could be save some dollars as it will have to spend less in purchasing crude that it imports.

But the effect on imports will be higher as the country imports more than it exports.

–

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

ShareTweetSendSend
Previous Post

Sanitation challenges: Parliament must consider a legislation on plastics – Zanetor

Next Post

Capital, UT Bank collapse: PwC recovers 15% of total loan stock

Related Posts

Top Stories

New expenditure cut measures not far-reaching; going to IMF would’ve been better  – Prof. Lord Mensah

March 26, 2022
Top Stories

Calls for scraping of some fuel taxes in the right direction – Atta Akyea

March 21, 2022
Opinion

The economic ramifications of the conflict between Russia and Ukraine [Article]

March 16, 2022
Top Stories

Gov’t shying away from IMF because of accountability – Nii Moi Thompson

February 24, 2022
Top Stories

E-levy better than going to IMF for ‘peanuts’ – Prof. Adei

February 23, 2022

Forget about IMF; let’s manage our own affairs with E-levy – Nhyiaeso MP

February 13, 2022
Next Post

Capital, UT Bank collapse: PwC recovers 15% of total loan stock

TOP STORIES

Security agencies on high alert over terrorism threats – Gov’t

May 22, 2022

GHS wants Hearts of Oak’s matches temporarily suspended over ‘strange’ disease

May 22, 2022

Albert Donkor’s death: Ballistic experts deployed to Nkoranza to aid in probe

May 22, 2022
Load More
ADVERTISEMENT
Citinewsroom – Comprehensive News in Ghana

CitiNewsroom.com is Ghana's leading news website that delivers high quality innovative, alternative news that challenges the status quo.

Archives

Download App

Download

Download

  • About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV

© 2021 All Rights Reserved Citi Newsroom.

No Result
View All Result
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos

© 2021 All Rights Reserved Citi Newsroom.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT