Energy stocks had a big 2021, gaining the most of any sector globally and ending the year up nearly 35%. Persistent concerns about inflationary pressures began to finally seep through as inflation data was published. Energy consumption is picking up as economies are continuing to reopen. While the supply side has been extremely disciplined over last 5 years, with OPEC keeping low production levels, OPEC’s crude production has risen steadily since the June 2020 lows. From Apri
Global Review The Bank of England raised interest rates for the first time in more than three years in December, as inflation continued to soar above target. The BoE was coming under increasing pressure from global organisations such as the IMF, which urged them not to wait and to act on inflation before it became a problem. Interest rates were increased to 0.25% from 0.1% previously. The base rate is used to charge other banks and lenders for deposits at the Bank of England.