Global crude oil production is projected to increase in 2024, according to the US Energy Information Administration’s (EIA) Short-Term Energy Outlook. The report forecasts total global fuel production, including refined products, to average 106 million barrels per day, up by 100,000 barrels from earlier estimates. Global consumption is expected to reach 104.1 million barrels daily. Due to higher supply, global oil inventories are likely to continue rising through 2026, reaching 31.8 billion barrels by the end of that year. The EIA anticipates the average Brent crude price to fall to $68.76 per barrel in 2024, down from $80.56 last year, while West Texas Intermediate (WTI) may average $65.15 per barrel. US crude output is forecast to reach a record 13.59 million barrels per day this year before slightly declining in 2025 and 2026. Analysts note that the EIA’s monthly forecasts show only minor adjustments but maintain expectations of a supply surplus through next year.

Petrobangla plans to expand Bangladesh’s gas exploration capacity by adding six contract-based rigs to operate alongside Bapex’s five existing rigs, bringing the total to eleven rigs working simultaneously across the country. The move aims to accelerate drilling and well workover operations amid rapidly declining domestic gas reserves. The Energy Division targets drilling and rehabilitating 100 wells between 2026 and 2028 to meet growing energy demand. Several rigs, including those from Chinese companies CNPC and Sinopec, will be deployed under turnkey contracts, covering all materials and services. Petrobangla expects these efforts to add approximately 143 million cubic feet of gas per day to the national grid once completed. The initiative also includes new drilling projects in Titas, Sylhet, and Bhola, where pipeline construction is underway to transport surplus gas to the mainland. Officials emphasize that increasing local production is vital to reduce dependence on costly imported LNG, which poses economic risks for Bangladesh.

The Bangladesh government has introduced the 'Fertilizer Dealer Appointment and Distribution Policy 2025' to streamline fertilizer supply to farmers and ensure transparency in distribution. Under the new policy, each union and municipality will have three dealers, each required to maintain a warehouse with a minimum capacity of 50 tons and two additional sales centers with 5–10 ton capacity. The policy bans multiple dealerships within the same family, prohibits government employees and convicted individuals from applying, and mandates digital record-keeping for sales and inventory. The security deposit has been raised from 200,000 to 500,000 taka, and dealer registration must be renewed every two years. The policy merges the dual dealership structures of BCIC and BADC, allowing dealers to sell both urea and non-urea fertilizers under one system. Violations of government contracts will result in dealership cancellation and forfeiture of deposits. The new policy takes effect Sunday, replacing all previous fertilizer distribution regulations.

The International Monetary Fund (IMF) has approved a new two-year, $24 billion flexible credit line for Mexico to serve as a precautionary buffer against external risks. The new arrangement replaces a previous $35 billion line, reflecting Mexico’s reduced reliance on IMF support and improved economic resilience. This marks the country’s eleventh such arrangement since 2009, with the credit line size shrinking from a peak of $88 billion in 2017. The IMF noted that the smaller amount underscores Mexico’s stronger financial position and increased buffers. Mexican authorities plan to treat the facility as precautionary, citing sound fiscal management and reduced vulnerability to capital flow volatility. However, IMF Deputy Managing Director Nigel Clarke cautioned that economic activity remains subdued due to fiscal consolidation, tight monetary policy, and trade tensions. The IMF emphasized that the credit line will continue to support Mexico’s macroeconomic stability and bolster market confidence.

The World Trade Organization (WTO) has confirmed that Bangladesh will continue to receive technical support even after graduating from the Least Developed Country (LDC) category in 2026. WTO Deputy Director-General Xiangchen Zhang stated that Bangladesh remains a major beneficiary of the Enhanced Integrated Framework (EIF), which helps LDCs integrate into global trade. The country will be eligible for EIF benefits for five years after graduation. Bangladesh has also benefited significantly from the WTO’s Aid for Trade initiative, receiving around USD 23 billion between 2006 and 2023. Zhang highlighted Bangladesh’s strong institutional framework, including the WTO Reference Centre at the Bangladesh Foreign Trade Institute. However, he noted that post-graduation, Bangladesh must adapt its engagement strategy within the WTO, shifting from the LDC group to forming strategic alliances with developing members. The continued support aims to strengthen Bangladesh’s trade capacity, diversify exports, and sustain competitiveness in the evolving global trade environment.

Petrobangla plans to expand Bangladesh’s gas exploration by deploying six contract-based rigs in addition to five operated by state-owned Bapex. The initiative aims to accelerate well drilling and increase domestic gas reserves amid declining local production. By 2028, Petrobangla targets drilling and overhauling 100 wells, with 11 rigs operating simultaneously across the country. The new rigs will be brought under turnkey contracts, where companies provide all equipment and services. Several wells, including in Titas, Sylhet, and Bhola, will be drilled by third-party contractors such as China’s CNPC and Sinopec. Petrobangla expects the new wells to add about 143 million cubic feet of gas per day to the national grid. Currently, Bangladesh’s daily demand stands at 3.8 billion cubic feet, while supply is just over 2.7 billion. To meet the shortfall, LNG imports have increased, though experts warn this is costly and risky for the economy. The government hopes the expanded drilling program will reduce dependence on imported gas.

The World Trade Organization (WTO) has confirmed that Bangladesh will continue to receive technical assistance even after graduating from the Least Developed Country (LDC) category in 2026. WTO Deputy Director-General Xiangchen Zhang stated that Bangladesh remains a key beneficiary of the Enhanced Integrated Framework (EIF), which helps LDCs strengthen trade capacity. After graduation, Bangladesh will still be eligible for EIF benefits for five more years. The country has already improved its food processing and apparel sectors through EIF support. Bangladesh has also been among the top ten recipients of the WTO’s Aid for Trade initiative, receiving around USD 23 billion between 2006 and 2023. Zhang emphasized that post-graduation, Bangladesh must adapt its engagement strategy within the WTO and form strategic alliances with developing member countries to sustain its trade competitiveness.

A delegation from Bangladesh’s National Citizen Party (NCP) held a policy dialogue with the International Monetary Fund (IMF) mission team in Dhaka to discuss the country’s economic challenges and reform priorities. The NCP thanked the IMF for its continued support and emphasized that structural reforms are vital for sustainable development. The IMF expressed concerns over GDP growth, revenue collection, distressed assets, and youth employment. NCP representatives reaffirmed their commitment to economic progress through revenue digitalization and financial sector reforms, despite slow implementation. The meeting also addressed issues of past government corruption, governance, transparency, and the need for a peaceful transition from the interim to an elected government. Both sides agreed that Bangladesh’s hardworking citizens remain the driving force behind its resilience and long-term stability.

Three government advisers from the ministries of Power, Energy and Mineral Resources, Industries, Housing and Public Works, and Commerce visited Bhola on Friday to inspect the proposed gas-based urea fertilizer plant site. The advisers—Muhammad Faozul Kabir Khan, Adilur Rahman Khan, and Sheikh Bashir Uddin—confirmed that the project aims to utilize Bhola’s abundant gas reserves. They also visited Bapex’s gas fields in Borhanuddin, where nine wells have been completed and five more are planned soon, with an additional fourteen under consideration. Adilur Rahman Khan stated that the visit was part of a feasibility study to determine the plant’s location and potential. He added that 34 buffer warehouses are being built nationwide to strengthen fertilizer management, including one in Bhola. Local officials and community representatives attended a later meeting discussing gas supply and local development.

With the onset of winter, Dhaka’s vegetable markets are seeing relief as prices of most vegetables and eggs decline due to increased supply. However, onion prices have sharply risen by up to 50 percent within a week, now selling for Tk 110–120 per kilogram compared to Tk 70–80 earlier. Traders attribute the spike to limited availability of old stock, though they expect prices to fall soon as new onions enter the market. The government is monitoring the situation and may allow limited imports if prices remain unstable, ensuring local farmers are not harmed. Meanwhile, winter vegetables such as cauliflower, cabbage, beans, radish, and turnip are becoming more abundant, bringing down prices across markets.

Once a thriving center for silk production, the Ishwardi Silk Seed Farm in Pabna, Bangladesh, now operates only a limited mulberry sapling production program while all other activities remain suspended. Established in 1962 on 108 bighas of land, the farm once produced silkworm eggs, cocoons, and silk thread for the Rajshahi Silk Factory. Over time, financial constraints and severe manpower shortages led to the closure of most operations. Currently, only one manager oversees the facility, with a few daily laborers and contract workers employed intermittently. The once-bustling compound has turned into an overgrown area with abandoned buildings and neglected mulberry fields. Officials say that with adequate funding and staffing, the farm’s former productivity and heritage could still be restored.

The Kurigram-Chilmari road in northern Bangladesh remains largely unrepaired despite the project nearing its deadline. Initiated in 2024 by the Local Government Engineering Department (LGED), the 12-kilometer road widening and renovation project, costing around Tk 14.5 crore, has seen only about 10% progress. Locals report that the contractor, Khairul Kabir Rana, abandoned the site after digging trenches along the road, leaving it in a hazardous condition for nearly two years. The neglected road has caused frequent accidents, especially at night, and disrupted transportation of patients and goods. Residents have staged protests demanding action. LGED officials said repeated notices were sent to the contractor and warned that legal measures will be taken if the work is not completed within the remaining one and a half months of the project period.

The International Monetary Fund (IMF) has projected that Bangladesh’s inflation will remain elevated in the current fiscal year, reaching an average of 8.8% in 2025–26 before easing to 5.5% in 2026–27. Following a 13-day review mission in Dhaka, IMF mission chief Chris Papageorgiou praised Bangladesh’s progress in maintaining macroeconomic stability but warned that weak tax revenue, financial sector vulnerabilities, and persistent inflation continue to pose challenges. The IMF recommended maintaining tight monetary policy until inflation falls to the 5–6% target range, strengthening tax administration, rationalizing subsidies, and expanding social safety nets. It also called for credible strategies to address banking sector weaknesses and accelerate climate financing efforts. The IMF noted that if reforms continue, GDP growth could reach about 5% by 2026–27, but delays could slow recovery and heighten inflation risks.

The International Monetary Fund (IMF) has expressed concern over Bangladesh’s worsening banking sector, burdened by soaring non-performing loans (NPLs). During a meeting with Bangladesh Bank officials, the IMF recommended merging or liquidating banks whose default loan ratios exceed 30%. Currently, 16 banks fall into this category, five of which are already in the process of merger. Following the IMF’s advice, Bangladesh Bank held a meeting with managing directors of 47 banks, instructing them to take urgent measures to reduce NPLs by December through rescheduling, legal action, or other means. The IMF also questioned delays in publishing accurate NPL data and sought explanations for the rising defaults. The crisis stems from years of mismanagement and corruption, prompting the central bank to initiate reforms, including relaxed rescheduling and write-off policies to stabilize the sector.

The long-neglected Kurigram-Chilmari road in northern Bangladesh remains in disrepair despite a major renovation project launched by the Local Government Engineering Department (LGED) in early 2024. The 12-kilometer road, vital for connecting several upazilas to Rangpur, was allocated about Tk 14.5 crore for widening and reconstruction. However, with only six weeks left before the project deadline, nearly 90% of the work remains incomplete. Locals allege that the contractor, Khairul Kabir Rana, abandoned the site after digging trenches along the road, leaving it unsafe and unusable. The neglected condition has caused frequent accidents, especially at night, and led residents to stage protests demanding action. LGED officials say repeated notices have been issued to the contractor and warned of punitive measures if the work is not completed on time.