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Russia’s economy contracted 4.2% in first half 2020: Ifax cites economy minister

By Reuters On Jul 22, 2020

FILE PHOTO: People stand on the Great Moskvoretsky Bridge, with the headquarters of Russian Foreign Ministry, the Kremlin towers and the Moscow International Business Center also known as "Moskva-City", seen in the background, in central Moscow, Russia, March 28, 2016. REUTERS/Maxim Shemetov/File Photo

MOSCOW (Reuters) – Russia’s gross domestic product (GDP) declined 4.2% in the first half of 2020, Economy Minister Maxim (NASDAQ:MXIM) Reshetnikov was quoted as saying by the Interfax news agency on Wednesday.

Reshetnikov said his ministry was maintaining its full-year forecast of a decline in GDP of 4.8% in 2020, but that it would revise this forecast in August.

Reuters

Crude Oil Technical Analysis 22 July 2020

Bounceback in U.S. shale oil output is unlikely to last the summer