The Week In Numbers: Relief For Keppel Corporation

The Organisation of Oil Exporting Countries (OPEC) has finally agreed to cut oil production. It was reported that output could be reduced from 33.4 million barrels per day to as little as 32.5 million barrels per day. That sent crude price 5% higher.

News of the cut also sent shares in oil & gas related companies higher on Thursday too. Keppel Corporation (SGX: BN4) jumped 3%, while Ezra Holdings (SGX: 5DN) and Sembcorp Marine (SGX: S51) both gushed 5%.

Global markets breathed a sigh of relief when Hilary Clinton was deemed to be the winner of the first televised presidential debate. Following the encounter the Democratic nominee is reckoned to have picked 4% in opinion polls. But Trump reckons that he came out on top.

Singapore’s population rose 1.3% to 5.61 million, according to the National Population and Talent Division. The Garden City now has 3.41 million citizens, 520,000 permanent residents and 1.67 million non-residents.

The Singapore economy is expected to grow at the lower end of the government’s official 1% to 2% forecast. The government said it is likely that Singapore remains in a period of unusually low growth. It could be below 2% for a couple of years.

And finally, Janet Yellen forgot a key economic number during her testimony to Congress. The Fed chair had to shuffle through her notes to find the Labor Force Participation Rate (LFPR). This measure the number of people aged 18 and over, who may either be employed or unemployed but looking for a job. It has fallen from a high of 67% in 2000 to 62.8% in August.

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