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Thursday outlook: Oil prices drop on higher U.S. production

Thursday outlook: Oil prices drop on higher U.S. production

Oil prices fell on Thursday after the EIA said that U.S. crude production reached a record high. Asian shares edge lower on worries China's economic outlook and uncertainties in the U.K. More commentary on Middle East markets, currencies and precious metals

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Playing catch-up: MENA's oil importers set to grow at faster rate than exporters - S&P

Playing catch-up: MENA's oil importers set to grow at faster rate than exporters - S&P

Ratings agency S&P Global has said that it expects many of the oil-importing nations in the Middle East and North Africa region to grow faster than the oil exporters.

In a paper examining sovereign rating trends for the region in 2019, the agency said that it expects economic growth for the region as a whole “to remain broadly stable at 2.8 percent on average” this year, compared to 2.6 percent last year.

However, it said that it expects oil importing entities (including Egypt, Jordan, Lebanon Morocco and the emirates of Ras Al Khaimah and Sharjah, to grow at a rate of 4 percent this year, weighted by nominal GDP.

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Carsten Menke

Palladium & China's car market stimulus: Short-term gain, long-term pain

The strong growth of electric vehicles in China is another factor at play

Lukman Otunuga

Will gold shine brightly in 2019?

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Isaac Kwaku Fokuo

Golden green

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Metals tentatively look forward to 2019

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