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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 markets likely to remain heavily oversupplied in 1H2016

Jan 21, 2016 10:38 am UTC| Commentary

The current oil market conditions continue to deteriorate, further putting downward pressure on spot and forward prices. Oil prices declined over 5 percent today, falling below $30/bbl as U.S. economic data failed to...

Oil in Global Economy Series

Oil recovery falters, triggers renewed bout of risk-aversion

Jan 21, 2016 06:56 am UTC| Commentary

Oil prices were stable early on Thursday after hitting fresh 2003 lows in its previous session. The front-month West Texas Intermediate crude futures was trading at $28.66 per barrel at 0155 GMT, up 31 cents from its...

Oil in Global Economy Series

OPEC upgrades its outlook for world oil demand for 2016

Jan 20, 2016 21:11 pm UTC| Commentary

Weak demand and worries over the worsening global oil surplus pressured prices over the prior trading week, with both WTI and Brent hitting their fresh multi-year lows. A global crude glut and slowing demand are major...

Oil in Global Economy Series

FxWirePro: No trace of strength for crude ahead of inventory check, $25/bbl likely sooner or later – short rallies to remain in safe haven

Jan 20, 2016 15:28 pm UTC| Insights & Views

The API has reported total U.S. and regional data relating to refinery operations and the production of the four major petroleum products (motor gasoline, kerosene jet fuel, distillate (by sulfur content), and residual...

Oil in Global Economy Series

Oil price faces downside risk after Iran's re-entry shakes market

Jan 19, 2016 21:40 pm UTC| Commentary

Oil prices changed the direction again on Tuesday, returning closer to fresh multi-year lows, after last weeks decision to lift sanctions on Iran added to the woes of weak demand and worries over the worsening global...

Oil in Global Economy Series

Oil prices fall further after Iran sanctions are lifted

Jan 18, 2016 17:21 pm UTC| Commentary

Oil prices are still in free fall, Brent dropped overnight to $27.67 per barrel, its lowest level since November 2003. At $28.36 per barrel, WTI reached its lowest level since October 2003. The renewed price slide was...

Oil in Global Economy Series

Brent at large discount to WTI as Iran sanctions go offline

Jan 18, 2016 06:24 am UTC| Commentary

World powers removed economic sanctions on Iran, over the weekend as International Atomic Energy Agency (IAEA) reported that Iran has abided by the all the clauses agreed on last July nuclear accord. There were oppositions...

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Economy

India Slashes Fuel Taxes: A Ten-Rupee Relief Amid Global Energy Turmoil

Effective March 26, 2026, the Indian government made a decisive fiscal action by significantly lowering the Special Additional Excise Duty (SAED) on motor fuels. This change in policy lowers the tax on gasoline from INR 13...

France's 2025 Budget Deficit Shrinks More Than Expected, Easing Fiscal Pressure

France made stronger-than-expected progress on its public finances in 2025, with the national budget deficit falling to 5.1% of GDP a notable improvement from 5.8% recorded in 2024 and well ahead of the governments own...

Oil Prices Slip as Trump Extends Iran Ceasefire Deadline Amid Ongoing War Fears

Global oil prices were on course for a weekly loss on Friday after U.S. President Donald Trump granted Iran a 10-day extension before threatening to strike its energy infrastructure, offering markets a brief reprieve ...

Asian Stocks Rebound as Trump Delays Iran Strike Deadline

Asian equity markets staged a partial recovery on Friday after U.S. President Donald Trump postponed a planned military strike on Iranian energy infrastructure, extending the deadline by over ten days while signaling...

Google's TurboQuant Sends South Korean Chip Stocks Tumbling Amid AI Memory Demand Fears

South Korean equities took a sharp hit Friday as mounting concerns over reduced artificial intelligence memory demand dragged the KOSPI index to its lowest point in more than two weeks. The benchmark fell nearly 3% to...

Politics

Lavrov Claims U.S. Seeks Control Over Damaged Nord Stream Pipelines

Russian Foreign Minister Sergei Lavrov has accused the United States of pursuing dominance over the Nord Stream gas pipelines in the Baltic Sea, which were severely damaged by underwater explosions in September 2022. The...

Chinese Universities with PLA Ties Found Purchasing Restricted U.S. AI Chips Through Super Micro Servers

Procurement records reveal that four Chinese universities, two of which have direct ties to the Peoples Liberation Army, acquired Super Micro Computer servers loaded with restricted Nvidia AI chips over the past year. The...

U.S. Praises Kurdistan's Role in Oil Markets Amid Iran War Fallout

U.S. Secretary of State Marco Rubio held a significant diplomatic call Thursday with Kurdistan Regional Government Prime Minister Masrour Barzani, signaling Washingtons commitment to regional energy stability as conflict...

Russia Accused of Helping Iran Target U.S. Forces, European Powers Tell G7

European nations have formally accused Russia of providing military intelligence and drone technology to Iran to help target American forces in the Middle East, raising the issue directly with U.S. Secretary of State Marco...

Trump Signs Executive Order to Pay TSA Workers Amid Airport Security Crisis

President Donald Trump announced Thursday that he will sign an executive order directing Homeland Security Secretary Markwayne Mullin to ensure Transportation Security Administration (TSA) employees receive their pay,...

Science

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates

Elon Musks SpaceX is shifting its near-term space exploration strategy, choosing to prioritize a return to the Moon before pursuing missions to Mars, according to a recent Wall Street Journal report citing sources familiar...

NASA and SpaceX Target Crew-11 Undocking From ISS Amid Medical Concern

NASA has confirmed that the agency, in coordination with SpaceX, is targeting no earlier than 5 p.m. Eastern Time (2200 GMT) on Wednesday, January 14, for the undocking of the SpaceX Crew-11 mission from the International...

Neuralink Plans High-Volume Brain Implant Production and Fully Automated Surgery by 2026

Elon Musks brain-computer interface company Neuralink is preparing for a major expansion, announcing plans to begin high-volume production of its brain implant devices and transition to a fully automated surgical procedure...

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Technology

Federal Judge Blocks Pentagon's Blacklisting of AI Company Anthropic

A federal judge has temporarily prevented the Pentagon from enforcing its designation of Anthropic as a national security supply-chain risk, dealing an early blow to the Trump administration in a growing dispute over...

SMIC Allegedly Supplies Chipmaking Tools to Iran's Military, U.S. Officials Warn

Chinas top semiconductor manufacturer, SMIC (Semiconductor Manufacturing International Corporation), has reportedly been transferring chipmaking equipment to Irans military industrial complex, according to two senior Trump...

Google's TurboQuant Algorithm Sends Memory Chip Stocks Tumbling

Major memory chipmakers took a significant hit on Thursday after Google researchers introduced a groundbreaking compression algorithm that threatens to reduce artificial intelligence demand for memory chips. Samsung...

Reflection AI Eyes $25 Billion Valuation in Massive $2.5 Billion Funding Round

Nvidia-backed artificial intelligence startup Reflection AI is in advanced discussions to secure $2.5 billion in fresh funding, with negotiations pointing to a staggering pre-money valuation of $25 billion, according to a...

Nanya Technology Shares Surge 10% After $2.5 Billion Private Placement from Sandisk and Cisco

Shares of Taiwan-based memory chip manufacturer Nanya Technology soared to their daily limit of 10% on Thursday morning following the companys announcement of a major $2.5 billion private placement deal backed by prominent...