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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

Oil in Global Economy Series: US operating rigs decline for 2nd time in 27 weeks

Jul 24, 2017 10:26 am UTC| Commentary

Last weeks report from Baker Hughes shows that operating oil rigs declined for the second time in 27 weeks. The increasing numbers of operating rigs, as well as increasing production, have been raising concerns that the...

Oil in Global Economy Series

Oil in Global Economy Series: Oil production within OPEC set to rise for third consecutive month in July

Jul 24, 2017 08:48 am UTC| Commentary

As the compliance within the OPEC slipping, the oil production from the OPEC cartel is set to rise for a third consecutive month in July, according to a report by oil consultancy firm, Petro-Logistics. After declining by...

Oil in Global Economy Series

Oil in Global Economy Series: Oil price steady ahead of OPEC/N-OPEC review meeting

Jul 24, 2017 06:35 am UTC| Commentary

The North American benchmark WTI is up 0.2 percent in Asian trading hours after a big selloffs in the previous session last week. The oil market is calm ahead of the OPEC/N-OPEC review meeting. There are some expectations...

Oil in Global Economy Series

Oil in Global Economy Series: Key factors at play in oil market

Jul 20, 2017 08:23 am UTC| Commentary

The North American benchmark WTI and the North Sea benchmark Brent have continued to push higher despite bearish news hitting the market and inventories remaining higher than anticipated. WTI crude is currently trading at...

Oil in Global Economy Series

Oil in Global Economy Series: Cracks emerge within OPEC as Ecuador shies away from production deal

Jul 19, 2017 08:45 am UTC| Commentary

This months oil market report from the OPEC has not only shown that the production in June increased by 393,000 barrels per day after an increase of 336,000 barrels in May, it showed that for the first time since the...

Oil in Global Economy Series

Oil in Global Economy Series: Kuwait says oil market to balance by end of OPEC deal without deeper cuts

Jul 19, 2017 07:45 am UTC| Commentary

While the oil market is taking a much longer time to balance this time around, despite a production cut in the tune of 1.76 million barrels per day, Kuwaiti oil minister Essam al-Marzouq remains confident that the market...

Oil in Global Economy Series

Oil in Global Economy Series: US operating rigs rise again for 25 times in 26 weeks

Jul 17, 2017 07:37 am UTC| Commentary

After the numbers of operating oil rigs declined in the last to last week, the operating oil rigs posted a rise for the 25th time in last 26 weeks. The increasing numbers of operating rigs, as well as increasing...

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Economy

New Zealand bonds end higher post better-than-expected improvement in June trade balance

The New Zealand bonds gained at the time of closing Wednesday after reading the better-than-expected improvement in the countrys trade balance for the month of June, released early today. At the time of closing, the...

Japanese bonds plunge on investors higher risk appetite

The Japanese bonds plunged Wednesday as investors moved to riskier assets including crude oil and stocks. Energy prices rallied on Saudi Arabias pledge to limit crude exports to help curb global oversupply. The yield on...

Australian bonds slump despite weak inflation, share prices up on firmer commodities

The Australian bonds slumped Wednesday despite consumer prices were surprisingly soft last quarter and core inflation rate stayed below target for a sixth straight quarter. Also, the investors found refuge in the riskier...

US private sector output expands at the fastest rate in six months in July, suggests economy gaining momentum in Q3

US-based manufacturing firms remained in expansion mode in July, flash estimates released by IHS Markit showed on Monday. Overall business conditions improved at the fastest pace for four months, while private sector...

FxWirePro: Anchoring CNB hiking hopes, advancing forecasts and valuations stimulate EUR/CZK

On the back of formidable economic data and the improved outlook for both domestic and foreign demand, we have revised our calls on GDP dynamics, the labor market, CNB policy, and the financial markets. We now expect two...

Politics

Law expert: where the Brexit battles over the Repeal Bill will be fought in parliament

The most important national law governing the Brexit process has been tabled before parliament by the UK government. The proposed European Union (Withdrawal) Bill previously known as the Great Repeal Bill is likely to...

Modi's polarising populism makes a fiction of a secular, democratic India

After Donald Trump was sworn in as US president, The Times of India published a piece titled Why both Modi and Trump are textbook populists. Citing Jan-Werner Mllers What is Populism?, the journalist, Amit Varma, was...

Politicians jeopardise the safety of whistleblowers with bad technology

The Western Australian Liberal Party has created a website, www.wawhistleblowers.com, encouraging whistleblowers to report on WA public officers, government ministers and members of parliament. The site has already been...

Malawi set out to give students skills to support democracy. But it's not been easy

Like many other countries, Malawi was caught in the wave of democratic change that swept sub-Saharan Africa in the early 1990s. The wave was triggered by the fall of communism along with military and civilian dictatorships...

US under Trump Series: Donald Trump Jr. may be called to testify before Senate over his meeting with Russian lawyer

President Trump eldest son Donald Trump Jr. might be called upon by the Senate Intelligence Committee to question about a meeting that took place in June 2016 at the Trump Tower between Trump Jr., President Trumps...

Science

NASA Is Launching A Nationwide Solar Eclipse Watch Project, Participate For Science

On August 21st, a solar eclipse that will completely blot out the sun was announced to happen by NASA. In an attempt to gather as much data about the celestial event as possible, the space agency is asking every single...

Scientists Create Material 5x Stronger Than Steel And Soft As Rubber

Researchers in Japan recently succeeded in creating a soft and flexible material that is five times stronger than steel but feels like rubber. Such a material could have numerous applications including the development of...

Humans Are Only Using 25% Of Their DNA, Study Says

Remember that popular misconception that humans only use about 10 percent of their brains power at any given time? It looks like something similar is about to start circulating the web with a new study indicating humans...

Scientists Create Super Spinach That Can Function As Bomb Detector

For the most part, the leafy green spinach has only ever been super in the animated classic Popeye the Sailor Man when the quirky main character would down a whole can of the leaves to gain strength. Recently, scientists...

The Most Advanced Artificial Heart Can Perform As Well As A Real One

Scientists have been trying to create artificial versions of human organs for decades, be it the liver, skin, eyes, and above all, the heart. These efforts are aimed at solving one of the biggest challenges in the medical...

Technology

Intel Throws Weight In Apple’s Corner Against Qualcomm In Huge Lawsuit

It would seem that the number of major brands that Qualcomm has to contend with in the lawsuit it has against Apple is growing. After the iPhone makers suppliers started backing their partner, even Google and Samsung have...

Why Swiping Up Using An iPhone Is A Bad Idea And Why Updating The iOS Is A Good Idea

Even though its the premier smartphone brand that Americans prefer, there are still plenty of misconceptions when it comes to the iPhone that a lot of users have. For example, in order to save on battery life, some...

Facebook Could Be Making A Modular Phone In Bid To Be Tech King

Its long been known that Facebooks ultimate goal is to take over the lives of every single person in the world by carving out a slice in every single industry. The social media platform has already done this by being...

Razer Could Get $5 Billion IPO Valuation And Make A Gamer-Specific Smartphone

The PC gaming hardware giant Razer is reportedly ready to go for an initial public offering, which could be worth $5 billion. The site for the IPO is apparently Hong Kong and achieving such an amount is also apparently...

Verizon Is Already Throttling YouTube And Netflix, Net Neutrality Is Dying

One of the biggest points of reassurance that FCC head Ajit Pai is trying to sell in dismantling Net Neutrality involves asking users to trust ISPs not abusing their power. According to him, carriers will not be throttling...
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July 26 06:45 UTC Released

FRConsumer Confidence

Actual

104 %

Forecast

108 %

Previous

108 %

July 26 02:00 UTC Released

IDFDI Growth YY*

Actual

10.6 %

Forecast

Previous

0.90 %

July 26 08:00 UTC 6969m

ITCPI YY*

Actual

Forecast

107.0 %

Previous

107.3 %

July 26 08:00 UTC 6969m

GBGDP Prelim QQ

Actual

Forecast

107.0 %

Previous

107.3 %

July 26 08:00 UTC 6969m

GBGDP Prelim YY

Actual

Forecast

106.2 %

Previous

106.4 %

July 26 08:00 UTC 6969m

ITRBA Weightd Medn CPI QQ*

Actual

Forecast

106.2 %

Previous

106.4 %

July 26 08:30 UTC 9999m

GBRBA Trimmed Mean CPI YY*

Actual

Forecast

Previous

40.347 %

July 26 08:30 UTC 9999m

USGDP Prelim QQ

Actual

Forecast

0.3 %

Previous

0.2 %

July 26 08:30 UTC 9999m

USGDP Prelim YY

Actual

Forecast

1.7 %

Previous

2.0 %

July 26 08:30 UTC 9999m

CABBA Mortgage Approvals

Actual

Forecast

Previous

40.347 k

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