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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

Key oil terminal closed in Libya over protests

Aug 15, 2017 11:17 am UTC| Commentary

Oil price is finding support as the news came out that a key oil terminal in Libya is closed over protests. While Libya is relatively a small producer within the OPEC and currently exempted from the OPEC production cut...

Oil in Global Economy Series

Saudi Crown Prince favors Aramco's listing on NYSE

Aug 14, 2017 11:21 am UTC| Commentary

Key global exchanges are fighting a battle to secure the listing of worlds biggest IPO next year; Saudi oil market giant Aramco. While Londons Financial Conduct Authority (FCA) is looking to amend and bend the current...

Oil in Global Economy Series

Oil in Global Economy Series: Key highlights from IEA MOMR

Aug 14, 2017 11:04 am UTC| Commentary

According to the monthly oil market report (MOMR), released by the International Energy Agency (IEA), IEA revised demand growth for 2017 to 1.5 million barrels per day from 1.3 million barrels per day. Growth is...

Oil in Global Economy Series

Oil in Global Economy Series: OPEC/N-OPEC producers breach production limit by 470,000 barrels per day

Aug 14, 2017 10:36 am UTC| Commentary

In May this year, OPEC producers and 11 participating non-OPEC countries including Russia formally ratified the agreement first drafted last November to cut supplies by 1.76 million barrels per day for an extension. The...

Oil in Global Economy Series

Oil in Global Economy Series: US operating rigs rise for 27th time in 30 weeks

Aug 14, 2017 09:35 am UTC| Commentary

Last weeks report from Baker Hughes shows that operating oil rigs rose for the 27th time in 30 weeks. The increasing numbers of operating rigs, as well as increasing production, have been raising concerns that the U.S....

Oil in Global Economy Series

Oil in Global Economy Series: OPEC July deal compliance review

Aug 11, 2017 06:34 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

China’s oil imports in July decline to 7-month low

Aug 10, 2017 11:21 am UTC| Commentary

One of the key bullish factors for oil has been the higher demand from China. China has surpassed the United States to become worlds largest importer of crude oil as increasing shale oil output in the United States reduced...

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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

Tesla Clears Regulatory Hurdles for FSD Launch in China with Baidu's Help

Tesla and Baidu have joined forces to tackle Chinas rigorous FSD regulations, ensuring all Tesla operational data is stored in Shanghai, thereby adhering to strict data compliance measures. According to Reuters, a...

Samsung Teams With eSports Icon 'Faker' to Boost Odyssey Sales in China

Samsung Electronics has intensified its efforts in China by aligning with Lee Faker Sang-hyeok and the powerhouse T1 eSports team to promote their Odyssey gaming monitors. The collaboration was highlighted during an...

Ethereum Whales Sell Off 56K Coins, Fueling Fears of Further Price Drops

Whales have shaken the Ethereum market by dumping 56,000 coins, leading to widespread speculation about further price corrections amid the crypto markets broader instability. Impact of Whale Transactions on...

Shiba Inu Faces New Correction, Dips Below Key Support Levels

Shiba Inu (SHIB), the popular meme cryptocurrency, has initiated another correction phase. It dropped below the crucial 26-day EMA and edged towards significant support levels. This downturn reflects a broader hesitance in...

MetaComp and Harvest Global Launch Innovative Bitcoin Spot ETFs in Singapore

In a significant move to expand global investment options, Singapore-based fintech MetaComp has teamed up with Harvest Global Investments to launch innovative bitcoin spot ETFs. This collaboration integrates advanced...