Could oil go to $25 per barrel? Reuters reported this week that Russia's central bank is not ruling out a plunge in oil prices next year because of weakening global economic growth, which lowers energy demand. Brent crude is down by almost a quarter since hitting $84 a barrel in October 2018.
However, this week brought talk of a renewed Saudi effort to raise prices. Crown Prince Mohammed bin Salman abruptly replaced energy minister Khalid al-Falih with royal half-brother Prince Abdulaziz bin Salman.
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The reality is that slumping global oil demand is largely outside the kingdom's control, says Matt Egan for CNN Business. Falih's replacement "reflects a sense of urgency about boosting prices". Riyadh looks poised to double down on its strategy of limiting output by "considering even deeper production cuts". As Michael Tran of RBC Capital Markets puts it, "The Saudis are in do-whatever-it-takes mode".
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Steve Webb: The triple lock is there to do a job. I’m not embarrassed or ashamed of itThe triple lock means 13 million pensioners will now get an above-inflation state pension boost in April. While the rising cost of the policy has stirred controversy, Steve Webb, who served as pensions minister when it was introduced, argues the triple lock is vital and should stay. Webb speaks to Kalpana Fitzpatrick on the new episode of MoneyWeek Talks – out now.
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How retirement pots risk running out 11 years early if inflation remains highPension savers could find their retirement income may not last as long as they anticipated over fears that inflation may not slow down
