International Energy Agency: Global Oil Demand Grows at Slowest Pace Since 2020 in First Half of Year
Global oil demand grew by around 800,000 barrels per day in the first half of this year,
marking the slowest pace since the COVID-19 pandemic in 2020,
due to a slowdown in Chinese consumption, according to the International Energy Agency.
Topic
Bank of China
China Development Bank Buys 80 New Airbus A320neo Aircraft
China Development Bank’s aircraft leasing subsidiary has agreed to purchase 80 Airbus A320neo aircraft to increase the share of more fuel-efficient planes in its fleet.
The bank stated on September 11 that the planes, which represent the second-largest order placed by an airline or aircraft leasing company to Airbus this year, are scheduled for delivery between 2030 and 2032.
Inflation
Core Inflation Rises in the U.S., Reducing Chances of a Significant Interest Rate Cut
Core inflation in the U.S. unexpectedly rose in August due to increases in housing and travel costs, reducing the likelihood of a significant interest rate cut by the Federal Reserve next week.
The core Consumer Price Index, excluding food and energy costs, increased by 0.3% from July, the highest in four months, reaching 3.2% year-on-year, according to figures released by the Bureau of Labor Statistics on Wednesday.
International Energy Agency: Global Oil Demand Grows at Slowest Pace Since 2020 in First Half of Year