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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

What should you do if you can’t pay your rent or mortgage?

The cost of living crisis is making it difficult for many people to pay their bills, including housing costs. Private sector rents have increased by an average 9% over the year to February 2024, and rising interest rates...

Reducing energy demand and improving efficiency will help prevent the next gas crisis

Gas prices have relaxed, Europe has come out of the winter with record gas storage levels and a surfeit of liquefied natural gas is set to reach the shores of Europe over the coming years. Many commentators are hopeful...

Minimum wage for South African farm workers: study shows 2013 hike helped reduce poverty even though compliance was poor

Minimum wage policies are typically aimed at reducing poverty. Yet there is little direct evidence of this effect, especially in developing countries. And none for South Africa. In a recent paper, we consider the...

If the RBA’s right, interest rates may not fall for another year. Here’s why.

The Reserve Bank is now assuming Australians will see no interest rate cuts this year and quite possibly none before the next federal election, due next May. Thats a big change compared to just three months ago. Back...

Some experts say the US economy is on the up, but here’s why voters don’t think so

Many Americans are gloomy about the economy, despite some data saying it is improving. The Economist even took this discussion to TikTok. When its US editor John Prideaux examined inflation, wage and employment numbers,...

Politics

Donald Trump Allegedly Offers Oil Execs a Deal to Scrap EV Incentives for $1B Donation

Former President Donald Trump reportedly proposed a $1 billion deal to oil executives, offering to end electric vehicle (EV) subsidies in return for campaign funding, according to The Washington Post. This move underscores...

US Supreme Court upended decades of precedent in 2022 by allowing voters to vote with gerrymandered maps instead of fixing the congressional districts first

For the 2022 midterm elections, the U.S. Supreme Court allowed Alabama to use congressional districts that violated the law and diluted the voting power of Black citizens. A 5-4 vote by the Supreme Court in February...

Germany lowers voting age to 16 for the European elections

Ahead of the European parliament elections in June, Germany has lowered the age limit on participation to 16. This makes it the largest of just a handful of states in the EU to allow people under the age of 18 to vote....

South Africa will be president of the G20 in 2025: two much-needed reforms it should drive

South Africa will play an important international role in 2025 as president of the G20. The G20 is a group of 19 countries as well as the African Union and the European Union. Between them they represent 85% of global...

Taiwan is experiencing millions of cyberattacks every day

Taiwan stands out as a beacon of democracy, innovation and resilience in an increasingly autocratic region. But this is under growing threat. In recent years, China has used a variety of grey zone tactics to pressure...

Science

Why are algorithms called algorithms? A brief history of the Persian polymath you’ve likely never heard of

Algorithms have become integral to our lives. From social media apps to Netflix, algorithms learn your preferences and prioritise the content you are shown. Google Maps and artificial intelligence are nothing without...

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...

Dark matter: our new experiment aims to turn the ghostly substance into actual light

A ghost is haunting our universe. This has been known in astronomy and cosmology for decades. Observations suggest that about 85% of all the matter in the universe is mysterious and invisible. These two qualities are...

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...

Technology

Dovish CPI Inflation Boosts AI Coins--Is WienerAI The Top Crypto Pick?

The April Consumer Price Index bodes well for risky assets, with US stocks and cryptocurrencies rallying in the aftermath. The YoY headline CPI data came in at 3.4%, exactly in line with market forecasts. The MoM...

Bitcoin Soars on Cooling US CPI Inflation Data, Investor Sentiment Improves

The Bitcoin price remains constant, as investors appear to have dismissed inflation concerns, particularly following the recent U.S. The Consumer Price Index (CPI) has been released. Notably, market investors were keenly...

Shiba Inu Rep Lucie Makes Major Bullish Statement on Shibarium Coins

Lucie, the Shiba Inu teams official marketing head, has taken to her X social media account (previously known as Twitter) to declare the SHIB, BONE, and LEASH pricing behavior she expects to see during a hypothetical...

Tesla Cybertruck to Receive Full Self-Driving V12.5 Update in June, Elon Musk Announces

Elon Musk provided a new update on the Tesla FSD development, which appears to be moving faster than anticipated. FSD V12.4, which aims to enhance miles per intervention by tenfold over V12.3, is set to begin internal...

Spot Bitcoin ETF: Vanguard Might Join BlackRock in Major Market Shift

With the appointment of new CEO Salim Ramji, Vanguard may soon enter the spot Bitcoin ETF market, potentially joining industry leader BlackRock and marking a significant shift in the investment landscape. Vanguards New...