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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: Drillers face worst time in decades and saga to continue

Feb 19, 2016 10:07 am UTC| Commentary

If anyone is hurt the most in energy segment, its the drillers. Analogy is quite simpler, which hard evidence proves. Fact check Oil price has fallen around 70%, since mid-2014. Then price was hovering above...

Oil in Global Economy Series

Saudi Arabia and Russia to rescue oil slumps, other OPEC nations lead for supply glut

Feb 17, 2016 13:24 pm UTC| Insights & Views

Iran unlikely to agree on production freeze. Saudi Arabia would export less oil in summer months in case of production freeze. Oilis trading near a 12-year low as record stockpiles continue to swell more than a year...

Oil in Global Economy Series

Real cut in oil output required to boost prices in short-term, oil freeze not enough

Feb 17, 2016 06:51 am UTC| Commentary

Saudi Arabia and Russia have agreed to freeze oil output at January 2016 level if other large producers join them too. This has put pressure on Iran to restrict production as it is the only other producer apart from Saudi...

Oil in Global Economy Series

Charged up Gulf delegates indicates prospect of further actions

Feb 16, 2016 12:36 pm UTC| Commentary

Gulf executives are a bit charged up today, as Saudi Arabia and Russia was able to agree over production freeze at January level and Saudi Arabias all powerful oil minister called the meeting a success. Whether the deal...

Oil in Global Economy Series

Oil focuses on Doha, up 4% for the day

Feb 16, 2016 07:32 am UTC| Commentary

Thanks to diplomatic effort by Venezuela, Saudi Arabias powerful oil minister Ali al-Naimi will meet his Russian counterpart Alexander Novak, in Doha today. Venezuela has been calling for cooperation between largest OPEC...

Oil in Global Economy Series

Oil prices rise despite downbeat Chinese import data

Feb 15, 2016 10:48 am UTC| Commentary

On Friday, oil prices advanced by more than 10%as Brent rose to $33.5 per barrel, while WTI gained to $29.7 per barrel. Oil prices continue to strengthen, despite weakness in Chinese import data. Chinas February oil...

Oil in Global Economy Series

U.S Oil trades above major resistance $29.05, jump till $31.50 is possible

Feb 15, 2016 06:25 am UTC| Technicals

Major resistance - $29.05 (7 day EMA) Major support - $28.20 US oil has closed above $29.05 on Friday and jumped till $29.63. It is currently trading above $29.40. Short term trend is bullish as long as...

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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

Dogwifhat's Surge on Solana Network Ignites Crypto Market Buzz

Dogwifhat, a meme coin built on the Solana blockchain, has shown a remarkable recovery, catching the eye of investors after its recent listing on Bybit led to a notable price increase. This development comes amidst a...

Lawyer Accuses DOJ of 'Obvious Disdain for Privacy' in Tornado Cash Case

Amanda Tuminelli, legal counsel for the DeFi Education Fund, has strongly criticized the DOJs apparent disregard for privacy and emerging technologies in its ongoing case against Tornado Cash. Critique of DOJs Technical...

Australia Set to Unveil Spot Bitcoin ETFs, $4 Billion Inflows Projected

Australias top exchange, the ASX, is poised to approve its first spot in Bitcoin ETFs. This could potentially unlock $3 to $4 billion in initial inflows over the next three years, bolstering the countrys robust crypto...

Tesla Cybertruck Triumphs in Off-Road Challenge, Reveals Enhanced Features

Teslas Cybertruck recently demonstrated its superior off-road capabilities in a video featuring new adjustments for pitch and angle to boost its performance on challenging terrains. Cybertruck Outperforms in Rigorous...

China Beat South Korea in OLED Panel Shipments for Small Gadgets

China reportedly defeated South Korea in the shipment of organic light-emitting display panels, or OLED, for IT gadgets. The Chinese makers outdid Korea for the first time in the first quarter of 2024. New Records for...