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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.

China Crisis Series

Oil in Global Economy Series

Lower oil price—double edged sword for China

Jan 15, 2016 06:43 am UTC| Commentary

Lower oil price is supposed to be a boost for China, since it is a net importer of oil. While this assumption holds true in theory, in reality might be acting as double edged sword for China. December trade report...

Oil in Global Economy Series

Oil back in red today, set to book weekly loss

Jan 15, 2016 06:26 am UTC| Commentary

The recent rebound in oil prices seems fragile as the commodity returned to steep losses on Friday, with supply staying high and demand remaining weak. Futures for WTI dropped 2.05% to trade at $30.56 per barrel, while...

Oil in Global Economy Series

US crude oil production likely to fall to 8.3 million barrels per day

Jan 14, 2016 22:18 pm UTC| Commentary

According to the latest EIA forecast for US crude oil, production is expected to fall to 8.3 million barrels per day by September, which would constitute a 900,000 barrel per day decrease as compared with the current...

Oil in Global Economy Series

API reports deficit, while WTI awaits EIA report – calls updated

Jan 13, 2016 12:55 pm UTC| Commentary

WTI dropped below $30/barrel momentarily yesterday as supply glut refuses to subside. Its however up today for the first time this year Key factors at play in Crude market Middle East tensions between Iran and...

Oil in Global Economy Series

Oil bites big in US oil producing states’ tax revenue

Jan 13, 2016 09:55 am UTC| Commentary

Drop in oil price is taking big bites in US tax revenue, mainly in oil producing states, according to latest report from Energy Information Administration (EIA). While drop in oil tax isnt big for overall United States,...

Oil in Global Economy Series

Is oil set to recover from 7 days decline?

Jan 13, 2016 08:26 am UTC| Commentary

Oil this year so far has declined in each of the trading day, wiping out a fifth of its value. However today price seems to be on the way to stage a recovery, at least a pause. WTI is currently trading at $30.8/barrel, up...

Oil in Global Economy Series

Investment banks cut oil forecast as oil dips below $30/barrel

Jan 13, 2016 05:54 am UTC| Commentary

As North American benchmark, West Texas Intermediate (WTI) dropped below $30/barrel last night, for first time in 12 years, analysts and investment banks rushed to cut their forecast for the year. It hasnt been two weeks...

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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...

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,...

Electric air taxis are on the way – quiet eVTOLs may be flying passengers as early as 2025

Imagine a future with nearly silent air taxis flying above traffic jams and navigating between skyscrapers and suburban droneports. Transportation arrives at the touch of your smartphone and with minimal environmental...

Electricity from farm waste: how biogas could help Malawians with no power

In sub-Saharan Africa, over 600 million people (more than 50% of the population) are without access to electricity. Malawi has one of the worlds lowest electricity access rates just 14.1% of the total population have...

High interest rates aren’t going away anytime soon – a business economist explains why

The Federal Reserve held interest rates steady at its May 1, 2024, policy meeting, dashing the hopes of potential homebuyers and others who were hoping for a cut. Not only will rates remain at their current level a...

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...

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...

What the Supreme Court is doing right in considering Trump’s immunity case

Following the nearly three-hour oral argument about presidential immunity in the Supreme Court on April 25, 2024, many commentators were aghast. The general theme, among legal and political experts alike, was a...

US student Gaza protests: five things that have been missed

Coverage of the recent student encampments at more than 50 universities across the United States has focused on confrontations between opposing groups of protesters or between protesters and police. The spectacle of...

Will Solomon Islands’ new leader stay close to China?

Former foreign minister Jeremiah Manele has been elected the next prime minister of Solomon Islands, defeating the opposition leader, Matthew Wale, in a vote in parliament. The result is a mixed bag for former prime...

Science

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...

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,...

Technology

Pepe Coin Reaches New ATH as Smart Money Moves 250.5B PEPE Tokens

Pepe currency has emerged as one of the most promising cryptocurrencies in the meme coin industry this year, recently reaching a new all-time high. Despite the turmoil in the broader crypto market, the coin has defied...

Analysts Predict Bitcoin (BTC) Surge to $70K Soon, Here’s Why

Despite a rise beyond $63,000 on May 13, Bitcoins price has fallen to $61,500 today (May 14). One cause for the drop could be Coinbases operating troubles. System Outage on US-Based Exchange Repairs, Analysts Predict...

1.5 Trillion Shiba Inu (SHIB) Transacted in 24 Hours: Is a Comeback Imminent?

Shiba Inu has seen 1.5 trillion SHIB tokens move in huge deals over the previous 24 hours. These whale-tier transactions take place during a significant volume rise in the market over the last 48 hours. Shiba Inu may...

Huawei Disputes Kirin X-Series PC Chip Rumors Amid Intel, Qualcomm Export License Cancellation

Huawei has denied allegations about its Kirin X-series PC chip development following the revocation of Intel and Qualcomms export licenses by the United States. Intel Export License Revocation Recently, the United...

OKX Expands to Australia, Introduces BTC, ETH, SOL Trading Options

OKX, a leading worldwide cryptocurrency exchange and Web3 technology business, has officially launched its crypto exchange services in Australia. This expansion is a big milestone for OKX, since it now provides spot (buy...