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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...

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...

Extraordinary Vietnam fraud case exposes the inherent vulnerabilities of banks

The financial crisis of 2008 showed just how much the world depends on banks being well run. Since then, regulators have been given new powers to keep some of the biggest institutions on a much shorter leash to stamp out...

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,...

Military conscription is returning to Europe, but is it really a more equal way of mobilising? What history tells us

The idea that conscription, defined as the compulsory enlistment of citizens for military service, can increase equality and instil a sense of solidarity that transcends traditional societal divides has echoed throughout...

The 50th anniversary of Portugal’s Carnation Revolution

Across Portugal, a number of photography exhibitions are currently on display that commemorate the ousting of the Estado Novo, the dictatorial, authoritarian and corporatist political regime that had ruled the country...

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

Anthropic Launches Claude AI App on iPhone to Rival OpenAI’s ChatGPT

Anthropic PBC, an artificial intelligence startup established in 2021, announced on Wednesday, May 1, that it launched an iOS app for its Claude 3 AI chatbot or language models. The company also unveiled a new subscription...

Shiba Inu Whale Moves 100 Billion SHIB Before FOMC, Signals Market Stir

In a surprising move, a mysterious Shiba Inu whale deposited 100 billion SHIB tokens into Coinbase, coinciding with a significant price drop just before the Federal Reserves crucial rate decision. This action has stirred...

Dongfeng Unveils High-Power Tesla Cybertruck Rival, Eyes Production in Italy

At the Beijing Auto Show, Dongfeng Motor Group showcased a Cybertruck-inspired electric vehicle boasting an impressive 1,305 horsepower, signaling its ambitions to produce over 100,000 electrified cars annually in Italy....

Biden Administration Set to Finalize Stricter EV Tax Credit Rules

The Biden administration is finalizing new electric vehicle tax credit rules, slashing the list of eligible models to just 13. This update, part of a broader effort to refine economic incentives before the election,...

Zeus Network Set to Launch Solana to Bitcoin Bridge in Q3 2024

Zeus Network has announced the launch of Zeus Program Library (ZPL) by Q3 2024, a pioneering bridge designed to connect and enhance asset transfer between the Solana and Bitcoin ecosystems, offering broad applications in...