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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: Kingdom’s oil minister sees deal extension beyond 2017

May 09, 2017 06:58 am UTC| Commentary

While commentaries from some of the OPEC member countries like Iran and Iraq continue to pose doubts over the possibility of an extension of the OPEC deal, Saudi Arabias oil minister Khalid-al Falih remains quite an...

Oil in Global Economy Series

FxWirePro: OPEC to drive crude price oscillation on seesaw – WTI crude ATM straddles to rescue price risks

May 08, 2017 07:52 am UTC| Insights & Views

The rules of the game for OPEC producers would clearly skew incentives to maximize output in the short term. Any subsequent negotiations would likely be based on prevailing output levels, hence the higher the better....

Oil in Global Economy Series

OPEC likely to agree to cut oil production again in May meeting

May 05, 2017 16:39 pm UTC| Commentary

The oil market is losing its faith in OPECs attempt to lower the huge supply overhang amidst falling oil prices. The road ahead to a more balanced market is expected to be bumpy, stated Nordea Bank in a research report. In...

Oil in Global Economy Series

Oil in Global Economy Series: Russia in favor of extending production cuts

May 05, 2017 08:33 am UTC| Commentary

OPEC leaders, who agreed to a production cut worth 1.2 million barrels per day in November last year are due to set a meeting on May 23rd in their to headquarter in Vienna to decide on whether to extend those cuts or not....

Oil in Global Economy Series

Oil in Global Economy Series: Reserve discoveries decline to 7-decade low in 2016

May 03, 2017 08:48 am UTC| Commentary

International Energy Agency (IEA), which is the energy watchdog of the developed markets, has been warning against supply crunches that may lead to spikes and volatilities in oil price by the end of the decade. Now, they...

Oil in Global Economy Series

Oil in Global Economy Series: Saudi Arabia loses market share amid OPEC deal

May 03, 2017 08:14 am UTC| Commentary

According to Christof Ruehl, former chief economist at BP who is currently the Global Head of Research at the Abu Dhabi Investment Authority (ADIA), Saudi Arabia, the largest producer of OPEC, which shared the biggest...

Oil in Global Economy Series

Oil in Global Economy Series: Iraq poses biggest threat to oil deal extension

Apr 26, 2017 07:41 am UTC| Commentary

Can there be an extension to the oil production curb deal agreed in last November to reduce production by almost 1.8 million barrels per day, when the second-largest producer Iraq is considering further expansion of...

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Economy

Interest rates: the ugly dilemma facing Europe’s central banks – and why it’s a mistake to cut too soon

Central banks in Europe are discovering an old dilemma: when they lower interest rates because inflation is slowing down, its likely to weaken their currencies. This in turn may delay the fall in inflation towards their...

Europe is still in short-term crisis mode over Ukraine and lacks a vision for its post-war identity

Some believe that the war in Ukraine has fundamentally changed Europe, giving birth to a different kind of European order. That is, it appears to be driving structural shifts in the way Europe is run and organised that...

Mortgage prisoners: regulatory changes and low credit scores have left thousands trapped in a cycle of high payments

There are 8.5 million households in the UK who own a home with a residential mortgage, often with fixed interest rates from two to five years. Usually, when that mortgage deal ends, the borrower will move to another deal...

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...

Politics

Gabon: post-coup dialogue has mapped out path to democracy – now military leaders must act

At the end of April 2024, a long and peaceful process of national dialogue in Gabon between the military junta, presided over by coup leader General Brice Oligui Nguema, and civil society, represented by 580 civilians,...

How German media attention idealises female Ukrainian refugees

According to the latest available data, around 3.7 million Ukrainians are internally displaced, while nearly 6.5 million have registered as refugees globally. With 1.13 million, Germany has taken in the largest...

Over 26 million South Africans get a social grant. Fear of losing the payment used to be a reason to vote for the ANC, but no longer – study

Social grants to reduce poverty feature prominently in the campaign promises of political parties in South Africas 2024 national and provincial general elections, set for 29 May. The countrys social grants system is one...

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...

Science

Is dark matter’s main rival theory dead? There’s bad news from the Cassini spacecraft and other recent tests

One of the biggest mysteries in astrophysics today is that the forces in galaxies do not seem to add up. Galaxies rotate much faster than predicted by applying Newtons law of gravity to their visible matter, despite those...

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...

Technology

OpenAI Suspends ChatGPT Sky Voice Following Scarlett Johansson 'Her' Comparisons

OpenAI has decided to suspend its ChatGPT Sky voice after multiple users noted its resemblance to Scarlett Johanssons voice in the 2013 film Her. OpenAI Addresses Voice Similarity Concerns OpenAI says it will pause...

Shiba Inu Burn Rate Skyrockets 579%, 9.83 Million Tokens Burned in One Day

Shiba Inus burn rate surged by 579% in the past 24 hours, destroying 9.83 million tokens, according to Shibburn. The significant increase in token burns has caught the markets attention, with substantial transactions from...

Tesla Cybertruck Trails Ford F-150 Lightning in Sales as Q1 Figures Disappoint Wall Street

New registration data reveals that the Tesla Cybertruck ranked second to the Ford F-150 Lightning in March. Meanwhile, Teslas Q1 sales missed Wall Street expectations, marking the first year-over-year quarterly decline...

Bitcoin Developers Tease Major Trigger for Next Bull Run: Programmability Upgrade

Bitcoin developers suggest enabling programmability on the blockchain could be the key trigger for the next bull run, following the SECs approval of spot Bitcoin ETF trading and the BTC halving. Developers Eye...

Top 3 Altcoins to Watch This Week: SOL, FTM, and LINK Set for Growth

This week, market experts spotlight Solana (SOL), Fantom (FTM), and Chainlink (LINK) as top altcoins to watch, highlighting their unique strengths and recent performance amid unusual market patterns. Solana Overcomes...