WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
- The Organization of Petroleum Exporting Countries (OPEC) expects worldwide oil demand to increase by 2.44 million barrels per day in 2023 and then by another 2.25 million bpd in 2024, despite economic concerns in China and India, according to its latest monthly report. “In 2024, solid global economic growth amid continued improvements in China is expected to boost consumption of oil,” said OPEC. The revised outlook sees growth roughly double what the International Energy Agency forecast on Thursday.
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- Thailand’s Pita Limjaroenrat failed in his initial bid to become the country’s next prime minister on Thursday, coming up 51 votes shy in a parliamentary vote despite being uncontested as there were many no-shows and abstentions. The leader of the progressive Move Forward party and his eight-party coalition defeated conservative pro-military parties in May’s general election but must now win over some conservatives in the country’s Senate to become Prime Minister. Another vote is expected next week.
- The union representing roughly 160,000 actors, SAG-AFTRA, is set to go on strike for the first time since 1960 as last-minute talks failed to reach an agreement with film and television studios is not reached. The labour dispute comes at the same time as the 11,500 members of the Writers Guild of America (WGA) are already on the picket lines, stalling the production of many television shows.
