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A new oil order has emerged over the past few years as oil prices have taken a plunge of about 60%. U.S., world’s one of key importer is about to become a major exporter of hydrocarbons. OPEC cartel, which has historically been a key player politically and price maker, losing its relevance and pricing power. On the energy front, renewables and gas becoming key challenger to oil’s global dominance. Moreover, this lower price is hitting energy exporters harder, creating global economic vulnerabilities. This new oil price and geo-political order demand greater analysis, which is the main focus of this series.

Oil in Global Economy Series

Extension of OPEC oil cut deal likely - Iranian Oil Minister Bijan Zanganeh

Mar 28, 2017 14:11 pm UTC| Commentary

Speaking to reporters in Moscow, Iranian Oil Minister Bijan Zanganeh said that an extension to the global oil cuts deal is likely, but added that time is needed to discuss the subject thoroughly. It seems that most of...

Oil in Global Economy Series

US crude oil production likely to reach multi-decade high by December, says Barclays Research

Mar 28, 2017 07:32 am UTC| Commentary Economy

Rising oil prices resulting from the OPEC deal have breathed new life into the US EP sector, which is likely to complicate OPECs decision in May. If production growth exceeds expectations, it could threaten to undo the...

Oil in Global Economy Series

Oil in Global Economy Series: Gigantic 14 billion barrel oil well of Iran adds to compliance concern

Mar 24, 2017 11:09 am UTC| Commentary

Anyone concerned with Iran complying to the OPEC deal in the future should be more worried as a gigantic field of oil is ready to come online. The South Pars offshore field on the Iran-Qatar border was officially...

Oil in Global Economy Series

Oil in Global Economy Series: Saudi Arabia to add pressure on free riders

Mar 24, 2017 09:34 am UTC| Commentary

Hard negotiations and fierce debates are already underway on whether the OPEC/N-OPEC deal to reduce production by almost 1.8 million barrels per day should be extended or not. This Sunday the review committee comprising...

Oil in Global Economy Series

Oil in Global Economy Series: Goldman Sachs warns oversupply ahead

Mar 24, 2017 07:23 am UTC| Commentary

As investors became worried on the increased oil production in the United States along with increased drilling activity, they have pushed the oil price lower by more than 10 percent over the past few weeks. Oil price now...

Oil in Global Economy Series

Oil in Global Economy Series: Sunday semi-OPEC meeting

Mar 24, 2017 06:35 am UTC| Commentary

Some of the members of the OPEC cartel and non-OPEC countries who participated in last years production deal will hold a meeting this Sunday in Kuwait and this can be seen as a semi-final meeting before the final May...

Oil in Global Economy Series

Oil in Global Economy Series: Oil might drop further on speculative long covering

Mar 21, 2017 07:08 am UTC| Commentary

One of the biggest short-term risks for the oil price is the speculative long positions, which has been built by money managers, speculators and hedge funds in response to the OPEC and thenon-OPEC deal last November, which...

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Economy

Spanish economic growth could exceed 2.5 pct for the next 2-4 years - Economy Minister Luis de Guindos

The Spanish economy expanded at 0.7 percent in both the third and fourth quarters of 2016. Spain maintained an economic growth of 3.2 percent in 2016, unchanged from the previous year. The economy expanded for the third...

U.S. Treasuries slightly gain ahead of Fed Chair Yellen’s speech

The U.S. Treasuries gained slightly Tuesday ahead of the Federal Reserve Chair Janet Yellens scheduled speech later in the day. Investors reassessed Trumps ability to pass potentially reflationary bills, such as the...

Poland inflation likely to rise further in March, unlikely to have any impact on MPS stance

Poland Marchs flash CPI inflation data is due Friday, and analysts expect Polands inflation to rise further as base effects are still in place and are likely to push the number higher. Driven by a global acceleration in...

German bunds rally on expectations of lower March consumer inflation

The German bunds rallied Tuesday, following expectations of a fall in the countrys consumer price inflation during the month of March. The yield on the benchmark 10-year bond, which moves inversely to its price, slumped...

JGBs trade mixed ahead of February retail sales, consumer inflation

The Japanese government bonds traded mixed Tuesday as investors remain keen to watch the countrys February retail sales as well as consumer price inflation data, scheduled to be released on March 29 and 31...

Politics

German election: Merkel’s CDU wins big in regional election

The final crucial election in the European continent will take place in Germany on September 24th. Incumbent German Chancellor Angela Merkel is hoping to become Germanys longest serving chancellor by winning the fourth...

How the Spanish political laboratory is reconfiguring democracy

This article is part of the Democracy Futures series, a joint global initiative with the Sydney Democracy Network. The project aims to stimulate fresh thinking about the many challenges facing democracies in the 21st...

Latin American presidents love Twitter – and that's not a good sign

The Conversation Globals series, Politics in the Age of Social Media, examines how governments around the world rely on digital tools to exercise power. Latin American democracy was born with an original sin: income...

Why polls seem to struggle to get it right – on elections and everything else

I am a professor of mathematics, so my ears perk up when I hear someone say that polls seem inaccurate. The public understandably focuses on polling results and how much these results seem to vary. Take two presidential...

Trump's credibility takes a hit as FBI finds no evidence of Obama 'wiretap'

FBI Director James Comey and National Security Agency Director Michael S. Rogers have both testified before the House Permanent Select Committee on Intelligence that they do not have any information or evidence to support...

Science

National Science Statement a positive gesture but lacks policy solutions: experts

Today the Australian government launched the National Science Statement, outlining its commitment to science as part of the National Innovation and Science Agenda. This comes in advance of the 2030 Strategic Plan, with...

It’s the age of the antibiotic revolution, not apocalypse

Bad news sells papers. Or as Elliot Carver, the media mogul set on world domination in the Bond film Tomorrow Never Dies put it: Theres no news like bad news. As a scientist, my responsibility is to separate fact from...

New Drug Destroys Breast Cancer In 11 Days, Study Indicates

Breast cancer is one of the most frightening diseases that afflict women and even some men in all walks of life. While some treatment plans have been proven to work in the past such as chemotherapy, many of them are too...

Can science produce better passport control officers?

Passport officers often have to scrutinise hundreds of people each day. They have just a few seconds to stare through their glass screens at the impatient and perhaps slightly dishevelled traveller facing them and decide...

Astronomers to peer into a black hole for the first time with new Event Horizon Telescope

Ever since first mentioned by Jon Michell in a letter to the Royal Society in 1783, black holes have captured the imagination of scientists, writers, filmmakers and other artists. Perhaps part of the allure is that these...

Technology

Android Co-Founder Makes His Own Smartphone, The God Creator Comes

Andy Rubin is one of the founders of the Android mobile operating system, which effectively makes him a God within the Android development community. In a recent Tweet, Rubin hinted that his new company called Essential...

New Tesla Roadster, Coming Right Up; Fastest EV Car

The Tesla Roadster was the first car that the popular electric car company ever built and it broke a lot of conventions. For one thing, it was the first all-electric sports car that was meant to be both fast and efficient....

Google Creates Dedicated Page For Free Paid Apps On Play Store, ‘Free App Of The Week’

At this point, everybody already knows that there are free apps and there are paid apps on stores like Google Play and the Apple App Store. Sometimes, however, paid apps are available for free. Google just made it a lot...

Apple Might Finally Start Selling iPhones In China Again

Apple and China havent really been seeing eye-to-eye over the last few years, with the second largest consumer market having its own ideas of what the American company should be sharing that the latter just did not like....

Tesla Model 3 Dashboard The Same As Model S, Will Have Better Range Than Chevy Bolt Though

The Tesla Model 3 is the companys attempt at finally accessing that coveted mass consumer market and a lot is riding on it. If fans were hoping for a more futuristic dashboard, however, it seems CEO Elon Musk popped that...
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March 28 21:00 UTC Released

KRBOK Manufacturing BSI*

Actual

78 bln $

Forecast

Previous

79 bln $

March 28 19:00 UTC Released

ARTrade Balance*

Actual

-122 mln $

Forecast

Previous

-106 mln $

March 28 23:50 UTC 1515m

JPRetail Sales YY

Actual

Forecast

0.5 %

Previous

1.0 %

March 29 06:00 UTC 385385m

DEImport Prices YY

Actual

Forecast

7.0 %

Previous

6.0 %

March 29 06:00 UTC 385385m

DEImport Prices MM

Actual

Forecast

0.3 %

Previous

0.9 %

March 29 06:45 UTC 430430m

FRConsumer Confidence

Actual

Forecast

100 bln $

Previous

100 bln $

March 29 08:00 UTC 505505m

ITWage Inflation MM*

Actual

Forecast

Previous

March 29 08:00 UTC 505505m

ITWage Inflation YY*

Actual

Forecast

Previous

March 29 08:00 UTC 505505m

ITConsumer Confidence

Actual

Forecast

Previous

106.6 %

March 29 08:00 UTC 505505m

ITMfg Business Confidence

Actual

Forecast

Previous

106.3 %

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