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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: Numbers of active oil rigs in U.S. rise for 20th consecutive week

Jun 05, 2017 07:28 am UTC| Commentary

The U.S. oil producers have added rigs in their operations for a 20th consecutive week, raising concerns that U.S. shale oil producers which were able to cut their production cost dramatically over the past years are now a...

Oil in Global Economy Series

Oil in Global Economy Series: Oil price jumps on Middle East tension

Jun 05, 2017 07:13 am UTC| Commentary

While an agreement between the OPEC and N-OPEC countries last month to extend the current supply cut for another nine months until March 2018 aimed to reduce global oil supply by 1.76 million barrels failed to boost oil...

Oil in Global Economy Series

Oil in Global Economy Series: Lower oil price breaks many fundamental understandings over past years

Jun 02, 2017 10:16 am UTC| Commentary

The price of oil has continued its downward move despite an agreement between the OPEC and participating N-OPEC producers to extend the current supply cut agreement that aims to reduce global oil supply by 1.76 million...

Oil in Global Economy Series

Oil in Global Economy Series: Increased production efficiency in the United States poses threat to price recovery

Jun 01, 2017 07:45 am UTC| Commentary

Back in the summer of 2014 and throughout 2015, when the oil price was declining rapidly, it was thought that lower oil price would lead to very large declines in production from the United States, which at that time was...

Oil in Global Economy Series

Oil in Global Economy Series: Numbers of active oil rigs in U.S. rise for 19th consecutive week

May 29, 2017 06:16 am UTC| Commentary

The U.S. oil producers have added rigs in their operations for a 19th consecutive week, raising concerns that U.S. shale oil producers which were able to cut their production cost dramatically over the past years are now a...

Oil in Global Economy Series

Oil in Global Economy Series: What's now for oil price amid OPEC/N-OPEC agreement?

May 26, 2017 08:59 am UTC| Commentary

In an article published before the OPEC/N-OPEC meeting earlier this week, named Oil in Global Economy Series: Oil might suffer buy the rumor, sell the news, available at...

Oil in Global Economy Series

Oil in Global Economy Series: Pre-announcement, rumors, and ‘buy the rumor, sell the news’ killed OPEC deal charm

May 26, 2017 06:52 am UTC| Commentary

OPEC and participating N-OPEC countries agreed to an extension of the current supply cut agreement for another nine months until March 2018 that aims to reduce global supply by 1.76 million barrels per day. However, just...

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Economy

The US is one of the least trade-oriented countries in the world – despite laying the groundwork for today’s globalized system

Given the spate of news about international trade lately, Americans might be surprised to learn that the U.S. isnt very dependent on it. Indeed, looking at trade as a percentage of gross domestic product a metric...

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

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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...

Inflation is slowly falling, while student debt is climbing: 6 graphs that explain today’s CPI

Australias inflation rate has fallen for the fifth successive quarter, and its now less than half of what it was back in late 2022. The annual rate peaked at 7.8% in the December quarter of 2022 and is now just 3.6%, in...

Politics

US Urges China, Russia to Reject AI Control in Nuclear Arms, Align with Global Norms

Paul Dean, a senior U.S. arms control official, emphasized the critical need for China and Russia to join the U.S. in declaring that humans will always decide on the deployment of nuclear weapons, not artificial...

South Africa’s youth are a generation lost under democracy – study

South African president Cyril Ramaphosa recently painted a rosy picture in which the countrys youth democracys children had enormous opportunities for advancement, all thanks to successive post-apartheid governments led...

Sadiq Khan on track for third term as London mayor – but nearly half of Londoners dissatisfied with performance

Polls have consistently shown that the incumbent mayor of London, Sadiq Khan, appears to be on track to win a third term in office at the upcoming mayoral elections on May 2. One poll we commissioned as part of our...

Biden administration tells employers to stop shackling workers with ‘noncompete agreements’

Most American workers are hired at will: Employers owe their employees nothing in the relationship except earned wages, and employees are at liberty to quit at their option. As the rule is generally stated, either party...

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...

Science

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...

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...

Technology

Altcoin Market Rally Predicted, Analysts Forecast $4 Trillion Market Cap Surge

Analysts are predicting a substantial rally in the altcoin market, with projections indicating a surge that could drive the market cap to an impressive $4 trillion. This optimistic outlook is supported by positive economic...

Shiba Inu's Remarkable 12% Surge Fueled by Record SHIB Burns, Community Momentum

Shiba Inus ascent reaches new heights as the cryptocurrency experiences a remarkable 12% surge, fueled by record-breaking SHIB burns. The surge reflects robust community engagement and underscores the dynamic nature of the...

Vodafone Ventures into Crypto Integration: SIM Cards to Host Blockchain Wallets

Vodafone, the UK-based telecom giant, is pioneering a groundbreaking initiative to fuse blockchain technology with smartphone functionality by integrating cryptocurrency wallets directly into SIM cards. This innovative...

Leak: Huawei's Kirin PC Chip, Qingyun Notebooks to Launch Next Month

Leaked information hinting at the imminent debut of the highly anticipated Kirin PC chip alongside the release of new Qingyun notebooks. The introduction of this computer-dedicated CPU marks a significant milestone for...

Tesla Enhances Model Y Lineup with Longer-Range Variant, Price Adjustment

Tesla has revamped its Model Y offerings, bidding farewell to the standard range rear-wheel-drive (RWD) model while introducing a longer-range variant for an additional $2,000. This strategic maneuver aligns with Teslas...