Inflation ( CCPI)-0.5% (Sep 2024)
GDP4.7% (2Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.32%
12M T-Bill Rate9.95%
2Y T-Bond Rate10.37%/ 10.45%
4Y T-Bond Rate11.80% / 11.90%
USD/LKR292/293
Reserves $5.99Bn (Sep 2024)
Cum. Trade Deficit $2,550 Mn (June 2024 cumulative)
Cum. Fiscal DeficitLKR 599Bn (June 2024)

Oil prices plunged on Monday, biggest daily drop since 1991

EnergyMar 9, 2020
Oil prices plunged on Monday, biggest daily drop since 1991
Oil prices plunged around 25% on Monday after Saudi Arabia slashed prices and set plans for a big increase in crude production in April. Saudi move to start a price war after Russia balked at making the further steep output cuts proposed by OPEC to stabilize oil markets. Brent crude futures were down $11.31, or 25%, at $33.96 while U.S. West Texas Intermediate (WTI) crude fell by $10.73, or 26%, to $30.55 a barrel. Saudi is attempting to punish Russia, the world's second-largest producer, for not supporting the production cuts proposed last week by the OPEC.

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