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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

New signs of possible OPEC production cuts

Feb 12, 2016 15:07 pm UTC| Commentary

Markets see some new signs that OPEC and some non-OPEC countries could perhaps agree on production limits after all. Igor Sechin, CEO of Rosneft - the largest Russian oil corporation spoke out in favour of a coordinated...

Oil in Global Economy Series

OPEC likely to agree on production limits

Feb 12, 2016 11:03 am UTC| Commentary

Brent price soared up 5% just short of $32 per barrel mark, while WTI trades under $28 per barrel after it hit a 12½-year low of $26 per barrel in its previous session. Signs of relief are seen in the markets as...

Oil in Global Economy Series

A renewed increase in crude oil stocks likely

Feb 11, 2016 16:01 pm UTC| Commentary

Reduction of US crude oil stocks probably just a flash in the pan said Commerzbank in a report. Data yesterday showed that US crude oil stockpiles fell to the surprise of markets, -754K vs +2850K expected. The inventory...

Oil in Global Economy Series

Russia and Iran are fighting together – but are they as close as it seems?

Feb 11, 2016 13:12 pm UTC| Insights & Views

After years of isolation, Iran is slowly coming back in from the cold after the deal to curb its nuclear programme. And as it starts to reassert itself more openly in the world order, its rekindling a stormy affair with an...

Oil in Global Economy Series

IEA report shows slim chances for a recovery in oil prices

Feb 10, 2016 16:38 pm UTC| Commentary

Oil prices literally plummeted on Tuesday evening, with Brent down nearly 8% in the last hours of trading, while WTI fared somewhat better with losses of 6%. IEA monthly reports showed that the worldwide inventory build...

Oil in Global Economy Series

Lower oil prices likely to sustain Philippines’ current account surplus

Feb 10, 2016 04:54 am UTC| Commentary Economy

Philippines December exports contracted for the ninth consecutive time on year-on-year basis. Weakness in exports of textiles, food and furniture mainly led to the overall decline in exports. The countrys shipments to...

Oil in Global Economy Series

Crude seems to shrugs off Russian talks with OPEC – target $25 back in on action

Feb 09, 2016 12:31 pm UTC| Insights & Views

Over the past couple of days, every now and then Russia has apparently raised the proposals for a 5% curtail in the production beside OPEC, this advancement has brought in a little relief in crude price over the short term...

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Economy

Beyond the spin, beyond the handouts, here’s how to get a handle on what’s really happening on budget night

Three weeks from now, some of us will be presented with a mountain of budget papers, and just about all of us will get to hear about them on radio, TV or news websites on budget night. The quickest way to find out what...

Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility

Ivan Vladislavić is Johannesburgs literary linkman. He tells us, in the first pages of his new book, The Near North, that before cities were lit, first by gaslight and later electricity, people of means paid torchbearers...

Economist Chris Richardson on an ‘ugly’ inflation result and the coming budget

With Jim Chalmerss third budget on May 14, Australians will be looking for some more cost-of-living relief beyond the tax cuts although they have been warned extra measures will be modest. As this weeks consumer price...

Why is the London Stock Exchange losing out to the US

London Stock Exchange (LSE), which can trace its heritage to the coffee houses of the 17th century, is failing. The volume of shares traded is sharply declining, and some UK companies are swiftly moving to the US...

Why Germany ditched nuclear before coal – and why it won’t go back

One year ago, Germany took its last three nuclear power stations offline. When it comes to energy, few events have baffled outsiders more. In the face of climate change, calls to expedite the transition away from fossil...

Politics

Labour can afford to be far more ambitious with its economic policies – voters are on board

To say that the Labour party is flying high in the polls is something of an understatement. But despite its consistent lead against the Tories, the opposition finds itself in a rather odd position: on the cusp of power but...

History for sale: what does South Africa’s struggle heritage mean after 30 years of democracy?

One of my favourite statues is the one of Nelson Mandela at the Sandton City shopping centre in Johannesburg. Larger than life, its oversized bronze shoes shimmer in the evening light, polished by the hands of many...

Sudan: civil war stretches into a second year with no end in sight

In the early hours of April 15 2023, the Rapid Support Forces (RSF) a Sudanese paramilitary force attacked the military airstrip in the town of Merowe and deployed troops across strategic locations in Sudans capital,...

Joe Biden Proposes Record 44.6% Capital Gains Tax in Latest Budget Plan That May Favor Cryptocurrencies

President Joe Biden has proposed raising the capital gains tax to an unprecedented 44.6% in a bold fiscal move, targeting the wealthiest Americans. This hike is part of his 2025 budget proposal to reduce income...

Turkey’s suppression of the Kurdish political movement continues to fuel a deadly armed conflict

The world has 91 democracies and 88 autocracies. Yet 71% of the worlds population (some 5.7 billion people) are living under autocratic rule, a big jump from 48% ten years ago. This trend towards authoritarianism can...

Science

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...

The rising flood of space junk is a risk to us on Earth – and governments are on the hook

A piece of space junk recently crashed through the roof and floor of a mans home in Florida. Nasa later confirmed that the object had come from unwanted hardware released from the international space station. The 700g,...

Peter Higgs was one of the greats of particle physics. He transformed what we know about the building blocks of the universe

Peter Higgs, who gave his name to the subatomic particle known as the Higgs boson, has died aged 94. He was always a modest man, especially when considering that he was one of the greats of particle physics the area of...

Could a telescope ever see the beginning of time? An astronomer explains

The James Webb Space Telescope, or JWST for short, is one of the most advanced telescopes ever built. Planning for JWST began over 25 years ago, and construction efforts spanned over a decade. It was launched into space on...

US media coverage of new science less likely to mention researchers with African and East Asian names

When one Chinese national recently petitioned the U.S. Citizenship and Immigration Services to become a permanent resident, he thought his chances were pretty good. As an accomplished biologist, he figured that news...

Technology

Elon Musk Injects $10 Billion Into Tesla AI, Eyes Autonomous Robotaxi

Elon Musk has declared a monumental $10 billion investment in Teslas artificial intelligence, setting the stage for advanced autonomous driving and a potential Robotaxi service. Tesla to Invest $10 Billion in AI for...

OpenAI and Worldcoin Eye Strategic Partnership Amid Regulatory Gaze

Amid escalating regulatory scrutiny, OpenAI, led by Sam Altman, is reportedly discussing a potential partnership with Worldcoin, another venture Altman co-founded. As detailed by Bloomberg, these talks could lead to...

Traders Forecast Best Altseason Since 2017 as Bitcoin Momentum Cools

As Bitcoin stabilizes above $64,000, traders forecast a burgeoning altcoin market that may mirror the explosive growth last seen in 2017. Bitcoin Rebounds Over Weekend, Traders Anticipate Potential Altcoin...

MicroStrategy Stock Skyrockets 461.7% Despite Bitcoin Market Turmoil

Despite the cryptocurrencys volatility, MicroStrategys stock soared by an impressive 461.7% over the past year, buoyed by strategic investments in Bitcoin and innovative debt management. MicroStrategy Triumphs: Stock...

Elon Musk in Beijing to Propel Tesla's Self-Driving Tech in China

Tesla CEO Elon Musk unexpectedly visited Beijing on Sunday to discuss launching Teslas Full Self-Driving technology in China and navigate data transfer policies amidst heightened US-China trade collaborations. Elon Musk...