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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

Rising desertification shows we can’t keep farming with fossil fuels

Dec 13, 2024 05:36 am UTC| Insights & Views Business

Three-quarters of Earths land has become drier since 1990. Droughts come and go more often and more extreme with the incessant rise of greenhouse gas emissions over the last three decades but burning fossil fuels is...

Oil in Global Economy Series

Oil Prices Sink as Market Faces Supply Surplus and OPEC+ Pushes Back Production Hikes

Dec 06, 2024 21:59 pm UTC| Economy

Oil prices took a sharp dip Friday, with Brent crude falling to $71.12 per barrel and WTI to $67.20. Concerns over a supply surplus and weak global demand continued to pressure the market despite OPEC+ extending deep...

Oil in Global Economy Series

Global Geopolitics Series

Oil Prices Soar to 2-Week High as Russia Fires Hypersonic Missiles, Escalating Ukraine Conflict

Nov 22, 2024 21:22 pm UTC| Economy

Oil prices surged about 1% on Friday, hitting a two-week high as Russia escalated its war in Ukraine by deploying hypersonic missiles, amplifying geopolitical risks in the market. Brent crude settled at $75.17 per barrel,...

Oil in Global Economy Series

Oil Prices Steady Amid Global Tensions and Economic Signals from China and the U.S.

Nov 05, 2024 05:59 am UTC| Economy

Oil Prices Hold Steady After Recent Surge Oil prices stabilized in Asian trading on Tuesday, following sharp gains as investors await economic and political signals from the U.S. and China. This shift comes after the...

Oil in Global Economy Series

Oil Prices Rise Amid Middle East Tensions, Eye Weekly Gains Despite U.S. Inventory Build

Oct 25, 2024 06:14 am UTC| Economy

Oil Prices Rise Amid Middle East Tensions, Set for Weekly Gains Oil prices increased during Fridays Asian trading session, driven by concerns over escalating conflict in the Middle East. Israels vow to strike Iran...

Oil in Global Economy Series

OPEC+ 12월 원유 증산 계획 예정

Sep 26, 2024 23:49 pm UTC| Economy

OPEC+ 소식통에 따르면, 일부 회원국이 9월과 이후 달에 과잉 생산을 보상하기 위해 더 큰 감산을 시행할 계획이 있다면, 그 영향이 적을 것이기 때문에 OPEC+는 12월 원유 증산을 진행할 예정이라고 목요일 (현지시간)...

Oil in Global Economy Series

UK oil and gas workers risk becoming the ‘coal miners of our generation’

Sep 25, 2024 12:41 pm UTC| Insights & Views Business

At the end of September, the UKs last remaining coal power plant, Ratcliffe-on-Soar in Nottinghamshire, will be retired. The closure of the plant should and will be celebrated by environmentalists, as the move away from...

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Economy

J.P. Morgan Now Expects Two ECB Rate Hikes Amid Inflation Pressures

J.P. Morgan has dramatically reversed its outlook on European monetary policy, now forecasting two European Central Bank rate hikes in April and July a stark departure from its earlier prediction of unchanged rates...

Goldman Sachs Delays Bank of England Rate Cut Forecast Amid Middle East Inflation Risks

Goldman Sachs has revised its outlook for Bank of England interest rate cuts, now pushing expectations back to 2027 after the central bank held rates steady and flagged growing inflation concerns tied to the ongoing Middle...

Asian Currencies Slide as Oil Prices Surge Amid U.S.-Israel-Iran Conflict

Most Asian currencies declined Friday as rising oil prices triggered by the U.S.-Israel war on Iran rattled financial markets, while the U.S. dollar also edged lower despite briefly touching multi-month highs earlier in...

Israel Defies Trump's Warning, Launches New Strikes on Iran Amid Growing Global Energy Crisis

A new wave of Israeli military strikes hit Tehran on Friday, one day after U.S. President Donald Trump explicitly warned Israeli Prime Minister Benjamin Netanyahu against targeting Iranian energy infrastructure. The move...

Asian Markets Mixed as Oil Volatility and Inflation Fears Weigh on Sentiment

Asian stock markets traded in a choppy, directionless pattern on Friday as surging crude oil prices tied to escalating Middle East tensions rattled investor confidence across the region. The uncertainty followed a weak...

Politics

Trump Presses Japan to Support Iran War Effort, Cites Pearl Harbor in Surprise Defense

President Donald Trump met with Japanese Prime Minister Sanae Takaichi at the White House Thursday, urging Japan to contribute military support amid the ongoing U.S. war with Iran and growing concerns over skyrocketing...

Australian PM Albanese Heckled at Sydney Mosque During Eid al-Fitr Prayers

Australian Prime Minister Anthony Albanese faced vocal protests during his visit to Lakemba Mosque in western Sydney on Friday, where he joined thousands of worshippers for Eid al-Fitr celebrations marking the end of...

Taiwan Strengthens Deterrence Amid Ongoing Chinese Military Threat

Taiwans Defence Minister Wellington Koo issued a stern warning on Friday, reaffirming that Chinas relentless military expansion continues to pose a serious and pressing threat to the island nation. His remarks came shortly...

U.S. Officials Express Optimism Over New CDC Director Selection Amid Vaccine Policy Turmoil

The United States is moving closer to naming a permanent leader for the Centers for Disease Control and Prevention, according to a top health official. Chris Klomp, chief counselor at the Department of Health and Human...

S&P 500 Rebounds After Netanyahu's Statements on Iran's Military Setbacks

U.S. stock markets showed resilience Thursday as the SP 500 recovered from a 1% intraday decline to trade nearly flat, driven by remarks from Israeli Prime Minister Benjamin Netanyahu claiming significant damage to Irans...

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

Jeff Bezos Eyes $100 Billion Fund to Transform Manufacturing With AI

Amazon founder Jeff Bezos is in early-stage discussions to raise a massive $100 billion investment fund focused on acquiring manufacturing companies and accelerating their automation through artificial intelligence. The...

OpenAI's Desktop Superapp: Unifying ChatGPT, Codex, and Browser Tools for Enterprise AI

OpenAI is moving forward with an ambitious plan to consolidate its flagship products ChatGPT, Codex, and its browser-based tools into a single, unified desktop application, according to a Wall Street Journal report. The...

Super Micro Computer Shares Plunge After Co-Founder Charged in AI Chip Smuggling Case

Super Micro Computer Inc (NASDAQ: SMCI) saw its stock drop as much as 14.6% in after-hours trading Thursday following a major legal development tied to illegal exports of artificial intelligence technology to China. The...

Xiaomi's AI Model "Hunter Alpha" Mistaken for DeepSeek's Next Release

A mysterious artificial intelligence model that appeared anonymously on the developer platform OpenRouter last week has been identified as a product of Chinese tech giant Xiaomi, not the widely anticipated next release...

Apple Defies China's Smartphone Slump with Strong Early 2026 Sales

Apple has recorded a remarkable 23% jump in China smartphone sales during the first nine weeks of 2026, outperforming a broader market that contracted by 4% over the same period. The surge highlights Apples strengthening...