The head of Exxon reported the oil shortage for the next 3-5 years


The head of the US oil company ExxonMobil (NYSE: XOM) Rex Tillerson said, that the expectations of oil shortage on the world market are exaggerated and that it is not necessary to wait for the next 3-5 years.

Oil passes $51 on inventory draw


Oil prices were rising more than 1% on Wednesday, with West Texas passing the $51 level, after the American Petroleum Institute reported late Tuesday that U.S. crude stockpiles fell by 3.8 million barrels.

UK inflation surges to 2-year high on weak pound


Consumer price inflation in the U.K. hit a near two-year high in September and came out higher than forecast as a weaker pound put upward pressure on prices, official data showed on Tuesday.

World Indices largely reduced in anticipation of a busy week


On Monday, Asian stock indexes closed mostly lower, while the Nikkei 225 rose after the Bank of Japan gave an optimistic outlook for the regional economy.

Carmaker Volkswagen will reduce costs by 10% in 2017


German carmaker Volkswagen to cut its costs by 10 percent in 2017 compared to the current due for "dieselgate" payments.