Gabon's official return to OPEC comes at a time when the country needs to attract outside investment in its oil sector in order to boost production and help its economy grow.
Economists have long supported the phasing out of global fossil fuel subsidies as a way to temper global oil demand. The era of cheap oil is finally making these reforms a reality.
The IMF is the world's de-facto crisis lender. But for oil producers on the brink, the World Bank can offer relief, without the terms or the stigma.
The IMF's inclusion of China’s yuan in the global currency basket gives the country a big symbolic victory ahead of the launch of its yuan-denominated crude futures exchange.
The IMF has estimated that oil exporting nations in the Middle East and North Africa as a whole will see their current account balances drop from a collective 8.9 percent of GDP surplus last year to a 4.3 percent of GDP deficit in 2016.
The diesel market is dealing with two major issues, one of which is a short-term glut and the other which surrounds questions about its long-term outlook in the wake of Volkswagen cheating on emissions testing.
Saudi Arabia may run out of financial assets in five years if the government continues with current policies, according to the IMF.
Following steady increases in output since last November’s OPEC meeting, Saudi Arabia’s production has fallen to its lowest level in six months. But that doesn’t mean the kingdom is giving up on its policy of sacrificing higher revenues for market share.