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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: Number of active oil rigs in U.S. rises for 23rd consecutive week

Jun 26, 2017 07:21 am UTC| Commentary

The U.S. oil producers have added rigs in their operations for 23 consecutive weeks, raising concerns that the U.S. shale oil producers which were able to cut their production cost dramatically over the past years are now...

Oil in Global Economy Series

Oil in Global Economy Series: A major fallout of OPEC deal

Jun 23, 2017 11:03 am UTC| Commentary

Last year, in November OPEC countries, along with 11 participating non-OPEC countries including Russia agreed to reduce oil production by 1.76 million barrels per day, beginning this year. The initial deal was agreed for...

Oil in Global Economy Series

Oil in Global Economy Series: Watch US energy bonds to assess stress from lower oil price

Jun 22, 2017 08:01 am UTC| Commentary

The oil price has declined to its lowest level in seven months as the market remains concerned of a continued supply glut in the market. After bottoming in July, the oil production in the United States has recovered by 0.9...

Oil in Global Economy Series

FxWirePro: OPEC mulls over further production cut to raise interests of WTI futures contracts of mid-month tenors

Jun 21, 2017 12:49 pm UTC| Insights & Views

OPEC and non-OPEC oil producers compliance with a deal to cut global outputs have reached its highest in May since they agreed on the curbs last year, reaching 106 percent last month, a source familiar with the matter said...

Oil in Global Economy Series

Oil in Global Economy Series: Number of active oil rigs in U.S. rises for 22nd consecutive week

Jun 19, 2017 06:18 am UTC| Commentary

The U.S. oil producers have added rigs in their operations for 22 consecutive weeks, 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: Libyan oil output likely to rise to 1 million barrels by next month

Jun 19, 2017 04:53 am UTC| Commentary

The increasing production in the United States remains as one of the biggest hindrances to oil price recovery, however, an increased production within the OPEC, thanks to Libya and Nigeria also played its part in the...

Oil in Global Economy Series

Oil in Global Economy Series: IEA report confirms US production as biggest threat to oil price recovery

Jun 16, 2017 10:21 am UTC| Commentary

International Energy Agency (IEA), which monitors energy market for the OECD countries, released its report earlier this week and the report is not a good one for the oil bulls. While IEA cited many reasons for the...

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Economy

RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens

The Reserve Bank of India (RBI) delivered a widely expected 25-basis-point cut to its key repo rate on Friday, lowering it from 5.50% to 5.25% as policymakers moved to support economic growth amid easing inflation. The...

Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike

Asian stock markets traded mixed on Friday as investors assessed contrasting signals from major central banks, while most regional indexes held steady ahead of key U.S. inflation data. Market sentiment was shaped by Indias...

Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows

Asian currencies strengthened slightly on Friday as traders grew more confident that the U.S. Federal Reserve will cut interest rates next week. The US Dollar Index slipped 0.1% in Asian hours, hovering near a one-month...

Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market

Oil prices traded mostly steady in Asia on Friday, holding on to gains from the previous session as geopolitical uncertainty and growing expectations of a U.S. Federal Reserve rate cut continued to support sentiment. As of...

BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague

Investors hoping the Bank of Japan will reveal clearer guidance on how high interest rates might rise may be disappointed, according to several former BOJ officials. Governor Kazuo Uedas recent hawkish tone has pushed...

Politics

Cuba Reaffirms Anti-Drug Cooperation as Tensions Rise in the Caribbean

Cuban authorities announced that the island is intensifying its fight against narcotics trafficking in the Caribbean, emphasizing ongoing cooperation with the U.S. Coast Guard despite heightened political tensions and an...

Drones Spotted Near Zelenskiy’s Flight Path in Ireland Trigger Security Alert

An Irish naval vessel detected as many as five drones operating close to the flight path of Ukrainian President Volodymyr Zelenskiys aircraft as he arrived in Ireland for a state visit, according to local media reports on...

Australia Progresses AUKUS Review as U.S. Affirms Strong Support

Australia is moving forward with the newly received United States review of the AUKUS nuclear-powered submarine partnership, signalling renewed confidence in the trilateral defence pact with the U.S. and the United...

Trump Administration Tightens H-1B Visa Vetting With New Focus on Free Speech and Censorship

The Trump administration has introduced stricter vetting measures for H-1B visa applicants, targeting professionals in highly skilled fields often recruited by major U.S. tech companies. According to an internal State...

China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai

Taiwan President Lai Ching-te has urged Chinese President Xi Jinping to direct his focus toward revitalizing Chinas weakening economy rather than pursuing territorial expansion, highlighting widening economic contrasts...

Science

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Blue Origin’s New Glenn Achieves Breakthrough Success With First NASA Mission

Blue Origins massive New Glenn rocket marked a major milestone as it completed its first mission for paying customers, sending two NASA satellites toward Mars and successfully landing its reusable booster at sea. The...

Cogent Biosciences Soars 120% on Breakthrough Phase 3 Results for Bezuclastinib in GIST Treatment

Cogent Biosciences (NASDAQ: COGT) shares skyrocketed over 120% after the biotech company announced groundbreaking results from its Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib for patients with...

Trump and Merck KGaA Partner to Slash IVF Drug Costs and Expand Fertility Coverage

U.S. President Donald Trump and German pharmaceutical company Merck KGaA have announced a groundbreaking deal aimed at lowering the cost of in-vitro fertilization (IVF) treatments while boosting access to fertility care in...

Technology

EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp

The European Commission is reportedly preparing to launch a new antitrust investigation into Meta Platforms Inc. (NASDAQ: META) over the companys recent rollout of artificial intelligence features within WhatsApp....

Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX

OpenAI CEO Sam Altman reportedly explored raising significant capital to acquire or partner with a rocket company, a move that could have created direct competition with Elon Musks SpaceX. According to a report from the...

Wikipedia Pushes for AI Licensing Deals as Jimmy Wales Calls for Fair Compensation

Wikipedia is seeking additional licensing deals with major technology companies to address the growing financial burden caused by artificial intelligence firms heavily scraping its platform, according to co-founder Jimmy...

Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature

Firelight reaches 25M XRP deposit cap within hours of launch; ushers in a new era for decentralized XRP staking. A new XRP staking platform, Firelight, has officially launched on the Flare blockchain, marking the first...

OpenAI Moves to Acquire Neptune as It Expands AI Training Capabilities

OpenAI has confirmed plans to acquire Neptune, a startup known for its advanced tools that help companies track, monitor, and optimize AI model training workflows. Although the company did not release the financial details...