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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

Optimistic Algeria deal will be implemented, says Saudi OilMin Al Falih

Nov 17, 2016 15:52 pm UTC| Commentary

Saudi Oil Mininister Al Falih said earlier on Thursday that he is optimistic Algeria deal will be implemented. He said that the agreement on oil output cut will be reached at the Vienna meeting likely to be held later this...

Oil in Global Economy Series

Oil in Global Economy Series: OPEC deal hope revived by Alexander Novak

Nov 17, 2016 06:41 am UTC| Commentary

Russian energy minister Alexander Novak has revived the hopes of an OPEC deal when members meet in Vienna on November 30th. We at FxWirePro have sincerely expressed our doubts and forecasted that a deal is unlikely. Read...

Oil in Global Economy Series

Saudi Arabia warns President-elect Trump on oil imports

Nov 16, 2016 08:30 am UTC| Commentary

Saudi Arabia has warned the President-elect Donald Trump that he would hinder the economic growth in the United States if he moves along his campaign promises to block imports of crude oil from OPEC countries namely Saudi...

Oil in Global Economy Series

Oil in Global Economy Series: Why a fully implemented OPEC deal is unlikely?

Nov 16, 2016 06:45 am UTC| Commentary

In September member countries of OPEC surprised the global market by agreeing to a landmark deal that would limit the cartels production between 32.5 million barrels per day and 33 million barrels per day. As of October,...

Oil in Global Economy Series

Oil in Global Economy Series: Who in OPEC will take cuts?

Oct 26, 2016 11:25 am UTC| Commentary

Concerns have surfaced inside OPEC on two fronts; Iraq, Iran, and Venezuela have accused the OPEC secretariat of under-reporting their production numbers and Iraq have called for an exemption from the cuts. While the first...

Oil in Global Economy Series

Oil in Global Economy Series: OPEC deal commitment doesn’t match production

Oct 26, 2016 09:27 am UTC| Commentary

Organization of Petroleum Exporting Countries (OPEC) has agreed to a deal in September to keep the production from the organization between 32.5 million and 33 million barrels per day. We have expressed our concerns with...

Oil in Global Economy Series

Oil in Global Economy Series: OPEC suffers internal war over freeze deal

Oct 24, 2016 06:30 am UTC| Commentary

When it came out that a deal was reached between the OPEC member countries to freeze production between 32.5 million barrels per day to 33 million barrels, we asked our readers to keep their fingers crossed, at least until...

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Economy

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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...

Gas is good until 2050 and beyond, under Albanese gas strategy

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South Africa’s plan to move away from coal: 8 steps to make it succeed

The South African governments Just Energy Transition Implementation Plan was launched in November 2023. It is a roadmap guiding the country away from reliance on coal-fired power towards renewable energy alternatives by...

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

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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...

What early 2024 polls are revealing about voters of color and the GOP

By the end of winter 2024, the return of Donald Trump to the top of the GOP presidential ticket has revealed a surprising trend in the former presidents base of support: his increasing popularity among Black and Latino...

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

Shiba Inu and PEPE Surge: SHIB Eyes 50% Gains, PEPE Hits $5 Billion Market Cap

The price of Shiba Inu (SHIB) has surged by 6% this week, with analysts predicting a 50% rally if key levels are broken. Meanwhile, PEPEs market cap has soared to $5 billion after hitting another all-time high. Analysts...

Vanguard’s New CEO Says Bitcoin ETF Not on the Table: Report

Vanguards new CEO, Salim Ramji, has confirmed that the investment giant will not launch a Bitcoin ETF, emphasizing the firms commitment to its investment philosophy. Despite his past involvement with BlackRocks Bitcoin...

iPhone Owners Alarmed as iOS 17.5 Resurfaces Deleted Nudes, Troubling Bug Reported

A troubling bug in Apples iOS 17.5 update is reportedly resurfacing previously deleted photos, including sensitive images, causing alarm among iPhone owners. Users on Reddit and beta testers have flagged this issue,...

Shiba Inu Rep Lucie Makes Major Bullish Statement on Shibarium Coins

Lucie, the Shiba Inu teams official marketing head, has taken to her X social media account (previously known as Twitter) to declare the SHIB, BONE, and LEASH pricing behavior she expects to see during a hypothetical...

Tesla Cybertruck to Receive Full Self-Driving V12.5 Update in June, Elon Musk Announces

Elon Musk provided a new update on the Tesla FSD development, which appears to be moving faster than anticipated. FSD V12.4, which aims to enhance miles per intervention by tenfold over V12.3, is set to begin internal...