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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: US operating rigs decline for 2nd time in 27 weeks

Jul 24, 2017 10:26 am UTC| Commentary

Last weeks report from Baker Hughes shows that operating oil rigs declined for the second time in 27 weeks. The increasing numbers of operating rigs, as well as increasing production, have been raising concerns that the...

Oil in Global Economy Series

Oil in Global Economy Series: Oil production within OPEC set to rise for third consecutive month in July

Jul 24, 2017 08:48 am UTC| Commentary

As the compliance within the OPEC slipping, the oil production from the OPEC cartel is set to rise for a third consecutive month in July, according to a report by oil consultancy firm, Petro-Logistics. After declining by...

Oil in Global Economy Series

Oil in Global Economy Series: Oil price steady ahead of OPEC/N-OPEC review meeting

Jul 24, 2017 06:35 am UTC| Commentary

The North American benchmark WTI is up 0.2 percent in Asian trading hours after a big selloffs in the previous session last week. The oil market is calm ahead of the OPEC/N-OPEC review meeting. There are some expectations...

Oil in Global Economy Series

Oil in Global Economy Series: Key factors at play in oil market

Jul 20, 2017 08:23 am UTC| Commentary

The North American benchmark WTI and the North Sea benchmark Brent have continued to push higher despite bearish news hitting the market and inventories remaining higher than anticipated. WTI crude is currently trading at...

Oil in Global Economy Series

Oil in Global Economy Series: Cracks emerge within OPEC as Ecuador shies away from production deal

Jul 19, 2017 08:45 am UTC| Commentary

This months oil market report from the OPEC has not only shown that the production in June increased by 393,000 barrels per day after an increase of 336,000 barrels in May, it showed that for the first time since the...

Oil in Global Economy Series

Oil in Global Economy Series: Kuwait says oil market to balance by end of OPEC deal without deeper cuts

Jul 19, 2017 07:45 am UTC| Commentary

While the oil market is taking a much longer time to balance this time around, despite a production cut in the tune of 1.76 million barrels per day, Kuwaiti oil minister Essam al-Marzouq remains confident that the market...

Oil in Global Economy Series

Oil in Global Economy Series: US operating rigs rise again for 25 times in 26 weeks

Jul 17, 2017 07:37 am UTC| Commentary

After the numbers of operating oil rigs declined in the last to last week, the operating oil rigs posted a rise for the 25th time in last 26 weeks. The increasing numbers of operating rigs, as well as increasing...

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Economy

Trump Unveils $3 Billion U.S. Critical Minerals Push

President Donald Trump announced roughly $3 billion in U.S. government investments and financing for critical minerals, battery materials and mining projects, part of a broader effort to strengthen domestic production and...

Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls

Oil prices fluctuated on Friday and remained on course for sharp weekly declines as uncertainty surrounding a potential agreement to reopen the Strait of Hormuz continued to drive volatility across global energy markets....

Gold Prices Surge 7% as Dollar Falls, Fed Rate Hike Bets Ease

Gold prices rallied sharply on Friday, putting the precious metal on track for its strongest weekly performance since late January as a weaker U.S. dollar, lower oil prices and softer Federal Reserve rate hike expectations...

US Dollar Falls as Weak July Jobs Report Dents Fed Rate Hike Bets

The U.S. dollar weakened on Friday and headed toward its first two-week losing streak since late May after a disappointing July jobs report reduced expectations for another Federal Reserve interest rate hike. The U.S....

China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade

Chinas exports posted stronger-than-expected growth in July, supported by booming global demand for artificial intelligence infrastructure and a rush to ship goods before higher U.S. tariffs took effect. Exports increased...

Politics

Taiwan President Lai Oversees Coastal Strike Drills in Han Kuang War Games

Taiwan President Lai Ching-te observed coastal strike drills on Saturday as the island continued its annual Han Kuang military exercises, designed to strengthen Taiwans defence readiness against a potential Chinese attack....

Trump Administration Plans $1 Billion Security Aid Package for Colombia

The administration of U.S. President Donald Trump plans to provide $1 billion in security assistance to Colombia under newly inaugurated President Abelardo De La Espriella, the U.S. State Department said Friday. The...

US Expects Iran-Oman Hormuz Shipping Deal Soon

The United States expects Iran and Oman to reach an agreement soon that could restore commercial shipping through the Strait of Hormuz, a critical route for global oil and energy supplies, according to a Reuters report...

SEC Moves to Dismiss Insider Trading Case Against Trump-Pardoned Terren Peizer

The U.S. Securities and Exchange Commission (SEC) is moving to dismiss its civil insider trading lawsuit against Terren Peizer, the former Ontrak CEO who was convicted in a landmark federal insider trading case before...

Ukraine Agrees to Protect Kazakhstan Oil Exports via Black Sea

Ukraine has reportedly agreed not to attack certain non-Russian oil tankers and infrastructure involved in exporting Kazakhstan crude oil through the Black Sea, a move that could help stabilize supplies from one of the...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

OpenAI Restricts Astra AI Over Cyberattack Risks

OpenAI has reportedly restricted parts of the development of its next-generation AI model, code-named Astra, after early evaluations indicated the system could potentially carry out sophisticated cyberattacks with limited...

Nvidia to Invest Up to $3 Billion in Blackstone-Backed Lancium

Nvidia is reportedly preparing to invest as much as $3 billion in Lancium, a Blackstone-backed power infrastructure developer involved in the Stargate artificial intelligence infrastructure initiative, as demand for...

Meta Ordered to Pay $567M Over Child Safety Violations in New Mexico

Meta Platforms Inc. has been ordered to pay $567 million into a fund designed to address harm to young people, in a major legal ruling involving child safety on Facebook and Instagram. Judge Bryan Biedscheid of New Mexicos...

Nintendo Shares Jump as Switch 2 Sales Boost Earnings

Nintendo shares surged nearly 5% on Friday after the Japanese gaming giant reported stronger-than-expected first-quarter earnings and upgraded its full-year financial outlook, supported by robust demand for the new Switch...

Cloudflare Stock Jumps 15% as Earnings Beat Estimates, 2026 Outlook Raised

Cloudflare shares surged in after-hours trading Thursday after the cloud connectivity and cybersecurity company delivered stronger-than-expected quarterly results, issued upbeat third-quarter guidance and raised its...