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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

WTI inches closer towards $75 mark, gains over 1.75% ahead of OPEC meeting

Jul 01, 2021 10:47 am UTC| Technicals

USOIL chart - Trading View U.S. West Texas Intermediate was trading 1.73% higher on the day at $74.78 at around 10:40 GMT. Oil prices remain buoyed after data Wednesday showed U.S. crude stockpiles fell 6.7 million...

Oil in Global Economy Series

WTI extends losses after doji formation in the previous session, bears eye 200H MA at $67.95

Jun 08, 2021 12:15 pm UTC| Technicals Economy

USOIL chart - Trading View West Texas Intermediate (WTI) crude is extending declines from multi-month highs at $69.97 after doji formation in the previous session. WTI was trading 0.93% lower on the day at $68.61 at...

Oil in Global Economy Series

Australia's economy can withstand the proposed European Union carbon tariff — here's what we find

Apr 23, 2021 11:41 am UTC| Economy

The European Union has committed to very significant emission cuts 55% on 1990 levels by 2030, and zero net emissions by 2050. To help it get there without too much disruption, the president of the European Commission...

Oil in Global Economy Series

Oil: why higher prices will complicate the energy transition

Mar 22, 2021 13:34 pm UTC| Economy

The oil price is on a rollercoaster. Having crashed into negative territory just last April, the price of Brent crude climbed all the way to US$70 (50) earlier in March. It has since slid below US$64. So where is it...

Oil in Global Economy Series

The oil industry says it might support a carbon tax – here's why that could be good for producers and the public alike

Mar 08, 2021 07:43 am UTC| Economy

The oil industrys lobbying arm, the American Petroleum Institute, suggested in a new draft statement that it might support Congress putting a price on carbon emissions to combat climate change, even though oil and gas are...

Oil in Global Economy Series

Japan leans on Asian LNG production to lower purchase costs

Feb 26, 2021 00:17 am UTC| Economy

Japan will support Asian countries liquefied natural gas (LNG) production for use in power generation in the hope of reducing procurement costs for the energy source. The efforts to lower purchasing costs and ensure...

Oil in Global Economy Series

Why being endowed with oil is not always a boon: the case of Nigeria and Angola

Feb 20, 2021 12:42 pm UTC| Politics

In countries with weak governance institutions, natural resource wealth tends to be a curse instead of a blessing. Where citizens are relatively powerless to hold ruling elites to account, resource wealth undermines...

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Economy

Activision Blizzard criticized as employees sign a petition for the management to recognize the seriousness of the issue

Activision Blizzard is currently dealing with heavy backlash from its employees, not just because of the previously reported frat boy culture at the workplace but also due to how the company responded to the lawsuit that...

Walmart adds full college tuition and book payments to part-time and full-time employees

Walmart revealed on Tuesday, July 27, that it will be paying for its staffs full college tuition fees, including the books. The company will shoulder the college schooling of its around 1.5 million full and part-time...

Starbucks, Nestle extend collaboration to bring ready-to-drink coffee to Southeast Asia, Latin America, and Oceania

Starbucks and Nestle just made an announcement that they will be extending their collaboration to be able to distribute ready-to-drink coffee to other parts of the world. To be more specific, the companies strategic...

Campbell's redesigns its cans after 50 years

Campbells soup cans were redesigned for the first time in 50 years, so customers will see new labels when they purchase the popular canned soup products. While the color scheme remained white and red, the font may change a...

Politics

Russia: Vladimir Putin commissions warplanes to be used in case of nuclear war

Countries are on the alert for Russias military activities as tensions remain over certain issues. This week, the Kremlin has commissioned the construction of two new military warplanes in case a nuclear war may...

Capitol insurrection: Video footage of rioters assaulting police officers played during first committee hearing

Law enforcement officials took the most beatings during the January 6 insurrection, resulting in dozens of officials severely injured from the violence. During the House Select Committees first hearing, a new video edit of...

Jovenel Moise assassination: Haitian leader's security coordinator arrested

A few weeks following the assassination of Haitian President Jovenel Moise, he was laid to rest last week. In another development in the investigation, Haitian authorities have arrested and detained Moises security...

Joe Biden weighs in on vaccine mandate for federal workers as VA makes vaccine mandatory for health workers

With the rising cases among Americans who have not been vaccinated, Joe Biden and his administration have been ramping up efforts in ensuring more people get their shots. Biden this week weighed in on making vaccinations...

Science

Hyundai Mobis develops brainwave analyzer to prevent drowsy driving

Hyundai Mobis developed a brainwave detection device dubbed M. Brain to alert motor vehicle operators against drowsy driving or sudden health issues. The M.Brain analyzes brainwaves to determine the drivers health...

Osaka University ties up with town of Okoppe to turn cow poop into methanol using LEDs

Researchers from the Osaka University and the town of Okoppe are conducting studies to produce methanol by illuminating biogas from cow manure with LEDs. Experiments were conducted at an agricultural and scientific...

Big bang: how we are trying to 'listen' to it – and the new physics it could unveil

Exactly what happened at the beginning of the universe, 14 billion years ago, is one of the greatest mysteries in physics theres no simple way to probe it. Thats because, in its early stages, the universe was filled with...

S. Korean researchers reveal method of using fat insects in producing eco-friendly biodiesel

South Korean researchers announced a method of producing environment-friendly fuels by utilizing the remains of high-fat black soldier flies. The method uses leftover fat from black soldier flies to produce animal feed,...

Nestlé, PepsiCo, and Suntory debut world’s first enzymatically recycled bottles

A consortium that includes Nestlé, PepsiCo, and Suntory has produced the worlds first food-grade PET plastic bottles from enzymatically recycled plastic using Carbios recycling process. The bottles that have been...

Technology

‘Pokémon Unite’ gets first post-launch character and its Gardevoir

Just a week after Pokémon Unite officially launched on Nintendo Switch, the game received its first-ever addition. Gardevoir was added to the roster on early Wednesday, adding another powerful choice to the list of...

‘GTA V’ is leaving Xbox Game Pass in a couple of weeks

GTA V has to be one of the biggest additions to the Xbox Game Pass library this year. However, subscribers may be losing their free access to the popular game soon just when the rumor mill started picking up clues that...

‘Animal Crossing: New Horizons’ version 1.11 goes live on July 29

It has been a while since Animal Crossing: New Horizons received an update with a lineup of free content, but the drought is finally ending this week. Nintendo has announced the official release date for version 1.11,...

Facebook offers free silicone cover amid Oculus Quest 2 recall due to skin irritation reports

Facebook will recall Oculus Quest 2 units worldwide and postpone its sales for a few weeks due to reports that the VR headsets foam padding is causing skin irritation on some users. For existing owners of the device, the...

‘Fortnite’ survey hints at possible D’Amelio sisters, Selena Gomez, and ‘Naruto’ collaborations

Collaboration with major brands and franchises, internet personalities, and successful artists have become a major part of Fortnite in recent years. And fans may already have the list of the most likely celebrities and...
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