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Oil in Global Economy Series

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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 oil production recovery continues to overwhelm

May 23, 2017 10:44 am UTC| Commentary

While the OPEC ministers are preparing to meet in their Vienna headquarter on Thursday, the financial market continues to get overwhelmed by the recovery in the US oil production since last July. The shale oil recovery...

Oil in Global Economy Series

Oil in Global Economy Series: Oil might suffer ‘buy the rumor, sell the news’

May 23, 2017 10:21 am UTC| Commentary

Presidents Trumps budget proposal to sell half of the United States strategic reserve which is around 688 million barrels over the next 10 years has pushed the oil price lower on Monday, however, the price remain upbeat...

Oil in Global Economy Series

OPEC oil supply cut deal likely to extend

May 18, 2017 23:10 pm UTC| Commentary

The deal between OPEC members and the 11 oil-producing nations outside OPEC is expected to be extended when OPEC meets on 25 May, noted Danske Bank in a research report. The recent comments from Russia and Saudi Arabia...

Oil in Global Economy Series

Oil in Global Economy Series: Low non-OPEC compliance contrasts with full-compliant OPEC

May 18, 2017 09:17 am UTC| Commentary

In November last year, OPEC producers agreed to a historic deal to cut production supplies by 1.2 million barrels per day, first such move since the Great Recession of 2008/09. In addition to that, 11 non-OPEC producers...

Oil in Global Economy Series

Oil in Global Economy Series: OPEC April deal compliance review

May 17, 2017 11:12 am UTC| Commentary

In November last year, when OPEC members agreed to cut production for the first time since the Great Recession, it was welcomed with great optimism and oil price jumped more than 20 percent, from $45 per barrel to as high...

Oil in Global Economy Series

Oil in Global Economy Series: Oil jumps after Saudi Arabia and Russia agrees to deal extension

May 15, 2017 05:33 am UTC| Commentary

Saudi Arabias oil minister Khalid al-Falih and the Russian energy minister Alexander Novak announced on Monday that the two of the biggest oil exporters in the world have agreed that the current supply reduction deal,...

Oil in Global Economy Series

Oil in Global Economy Series: Iran wants to expand production by 3 million barrels per day

May 09, 2017 07:18 am UTC| Commentary

Iranian Oil ministrys news service, Shana reported on Monday said that Iran plans to lift its production capacity by as much as 3 million barrels per day, which will be equivalent to an 80 percent production boost. Deputy...

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Economy

What should you do if you can’t pay your rent or mortgage?

The cost of living crisis is making it difficult for many people to pay their bills, including housing costs. Private sector rents have increased by an average 9% over the year to February 2024, and rising interest rates...

Reducing energy demand and improving efficiency will help prevent the next gas crisis

Gas prices have relaxed, Europe has come out of the winter with record gas storage levels and a surfeit of liquefied natural gas is set to reach the shores of Europe over the coming years. Many commentators are hopeful...

Minimum wage for South African farm workers: study shows 2013 hike helped reduce poverty even though compliance was poor

Minimum wage policies are typically aimed at reducing poverty. Yet there is little direct evidence of this effect, especially in developing countries. And none for South Africa. In a recent paper, we consider the...

If the RBA’s right, interest rates may not fall for another year. Here’s why.

The Reserve Bank is now assuming Australians will see no interest rate cuts this year and quite possibly none before the next federal election, due next May. Thats a big change compared to just three months ago. Back...

Some experts say the US economy is on the up, but here’s why voters don’t think so

Many Americans are gloomy about the economy, despite some data saying it is improving. The Economist even took this discussion to TikTok. When its US editor John Prideaux examined inflation, wage and employment numbers,...

Politics

Donald Trump Allegedly Offers Oil Execs a Deal to Scrap EV Incentives for $1B Donation

Former President Donald Trump reportedly proposed a $1 billion deal to oil executives, offering to end electric vehicle (EV) subsidies in return for campaign funding, according to The Washington Post. This move underscores...

US Supreme Court upended decades of precedent in 2022 by allowing voters to vote with gerrymandered maps instead of fixing the congressional districts first

For the 2022 midterm elections, the U.S. Supreme Court allowed Alabama to use congressional districts that violated the law and diluted the voting power of Black citizens. A 5-4 vote by the Supreme Court in February...

Germany lowers voting age to 16 for the European elections

Ahead of the European parliament elections in June, Germany has lowered the age limit on participation to 16. This makes it the largest of just a handful of states in the EU to allow people under the age of 18 to vote....

South Africa will be president of the G20 in 2025: two much-needed reforms it should drive

South Africa will play an important international role in 2025 as president of the G20. The G20 is a group of 19 countries as well as the African Union and the European Union. Between them they represent 85% of global...

Taiwan is experiencing millions of cyberattacks every day

Taiwan stands out as a beacon of democracy, innovation and resilience in an increasingly autocratic region. But this is under growing threat. In recent years, China has used a variety of grey zone tactics to pressure...

Science

Why are algorithms called algorithms? A brief history of the Persian polymath you’ve likely never heard of

Algorithms have become integral to our lives. From social media apps to Netflix, algorithms learn your preferences and prioritise the content you are shown. Google Maps and artificial intelligence are nothing without...

IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects

About a trillion tiny particles called neutrinos pass through you every second. Created during the Big Bang, these relic neutrinos exist throughout the entire universe, but they cant harm you. In fact, only one of them is...

The Mars Sample Return mission has a shaky future, and NASA is calling on private companies for backup

A critical NASA mission in the search for life beyond Earth, Mars Sample Return, is in trouble. Its budget has ballooned from US$5 billion to over $11 billion, and the sample return date may slip from the end of this...

Dark matter: our new experiment aims to turn the ghostly substance into actual light

A ghost is haunting our universe. This has been known in astronomy and cosmology for decades. Observations suggest that about 85% of all the matter in the universe is mysterious and invisible. These two qualities are...

A Nasa rover has reached a promising place to search for fossilised life on Mars

While we go about our daily lives on Earth, a nuclear-powered robot the size of a small car is trundling around Mars looking for fossils. Unlike its predecessor Curiosity, Nasas Perseverance rover is explicitly intended to...

Technology

GameStop, AMC Stocks Soar as 'Roaring Kitty' Returns, Sparking Meme Stock Frenzy

Shares of retail investor favorites GameStop and AMC Entertainment surged on Tuesday, fueled by social media posts from Keith Gill, also known as Roaring Kitty, the key figure behind the 2021 meme stock...

ECB Calls for Monitoring and Possible Regulation of AI in Finance

The European Central Bank (ECB) has highlighted the need for careful monitoring and potential regulation of artificial intelligence (AI) in the financial sector to prevent harm to consumers and ensure market stability....

BYD Launches Shark Hybrid Pickup in Mexico, Eyes New Factory Amid US Tariff Hike

BYD has introduced its Shark hybrid pickup truck to the Mexican market, with plans for a new factory, aiming to bolster its North American footprint despite recent U.S. tariff hikes on Chinese electric vehicles. BYDs...

Important Shiba Inu Metric Explodes by 2,300% as SHIB Price Rises: Details Inside

Important Shiba Inu metric explodes by 2,300% as the SHIB price rises. Shiba Inu adoption continues to grow, with users now able to book Airbnb and buy Nike clothes via SHIB. Shiba Inus Daily Volume Surges 2,300%,...

Pepe Coin Reaches New ATH as Smart Money Moves 250.5B PEPE Tokens

Pepe currency has emerged as one of the most promising cryptocurrencies in the meme coin industry this year, recently reaching a new all-time high. Despite the turmoil in the broader crypto market, the coin has defied...