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Crude Oil on the Rise: JPMorgan Predicts a Surge to $150 per Barrel Amidst Global ‘Energy Supercycle’
25.9.2023
Christyan Malek, the lead for EMEA energy equity research at JPMorgan, predicts that by 2026, crude oil prices could soar to $150 a barrel. Malek believes a looming energy supercycle could be the driving force pushing crude prices upward. Another significant factor, Malek points out, is...
IEA Report: Oil Prices on the Brink of Soaring as Supply Narrows and Demand Shatters Records
12.8.2023
The stage is set for a potentially striking upswing in global oil prices, as supply constricts and demand ascends to unprecedented levels. With oil reserves dwindling at a breakneck pace, OPEC’s spare capacity restrained, and powerhouse consumers like China and India snapping up record...
Gold, Silver, and Crypto Prices Surge After Federal Reserve’s Quarter-Point Increase
4.5.2023
Following a quarter-point increase in the federal funds rate by the Federal Reserve on Wednesday, precious metals such as silver and gold experienced a surge in value against the U.S. dollar, with gains ranging from 0.87% to 1.18%. Gold, in particular, has been on an upward trajectory, having risen...
Putin and Saudi Crown Prince Discuss Potential BRICS-Saudi Arabia Collaboration
22.4.2023
Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman Al Saud discussed potential collaboration between Saudi Arabia and the BRICS on Friday. In addition, Putin and the Saudi Crown Prince “expressed satisfaction with the level of coordination at OPEC Plus aimed...
Growing Links Between Middle East, Russia, China Pose Huge Challenge for US, Warns Former Treasury Secretary
17.4.2023
Former Treasury Secretary Lawrence Summers has expressed concerns that a rising number of countries, including China, Russia, and the Middle East, are aligning themselves and gaining global influence. “I think [it] is a huge challenge for the United States,” he cautioned. Larry Summers on Countries...
Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023
10.4.2023
After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central bank’s mission. Additionally, the majority of...
Mounting Trend of Challenges to USD Hegemony Reported: Saudi Arabia, BRICS; Ron Paul Weighs in on Potential Fall of Dollar as Reserve — Week in Review
9.4.2023
The United States dollar has been a hot topic in recent weeks, with multiple reported developments occurring globally which could signal significant moves toward de-dollarization in large economies. Former U.S. congressman Ron Paul also noted this week that if the USD’s influence as a reserve...
Yellen Says US ‘Not Willing to Allow Contagious Bank Runs,’ Calls OPEC Oil Production Cut ‘Unconstructive’
6.4.2023
Roughly 26 days ago and in the following days, the U.S. witnessed two significant bank failures when Silicon Valley Bank and Signature Bank collapsed. After speaking at an event on Monday at Yale University, Janet Yellen, the current U.S. Treasury secretary, told reporters that she was closely...
US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States
4.4.2023
After Saudi Arabia and members of the Organization of the Petroleum Exporting Countries (OPEC) surprised the world by announcing cuts to oil production, a spokesperson for U.S. president Biden’s National Security Council stated that reducing production is not advisable. According to a recent...
BTC price double top forming? 5 things to know in Bitcoin this week
3.4.2023
Thanks to oil production cuts to major historical resistance, among other factors, Bitcoin bulls have their work cut out to break higher
Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now
3.4.2023
On Sunday, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was coordinated with some members of the Organization of...
JPMorgan CEO Jamie Dimon: US-China Tensions, Russia-Ukraine War ‘Far More Concerning’ Than Recession
27.10.2022
JPMorgan Chase CEO Jamie Dimon says the tensions between the U.S. and China and the Russia-Ukraine war are “far more concerning than whether there’s a mild or slightly severe recession.” He stressed: “I would worry much more about the geopolitics in the world today.”...
Nicolas Maduro Tempts West With an Abundance of Oil and Gas, Venezuelan President Wants Sanctions Lifted
25.9.2022
Amid the economic rumblings across the world and the energy crisis in Europe, Venezuelan president Nicolas Maduro has said his country is ready to step up and help with oil. Despite the fact that Venezuela has the largest supply of crude oil in the world, U.S. economic sanctions imposed in 2019...
OPEC+ Decision Causes the Highest Surge in Oil in Seven Years
6.10.2021
This week’s big news from the oil industry is the rise in oil prices caused by OPEC+’s increased output. On Monday, the cartel and supporters discussed the current status of its production quantities in a virtual meeting. It was decided unanimously that production would keep increasing...
US Inflation Continues to Rise Amid Lockdown Talk, Producer Prices Jump 7.8%, Biden Blames OPEC
14.8.2021
The United States is facing severe inflation despite the Federal Reserve and mainstream media doubling down on saying the loss of purchasing power is just “transitory.” This week consumer and producer metrics from July have been published by the U.S. Bureau of Labor Statistics...
OPEC to cover blockchain tech in second workshop on energy and IT
31.8.2020
Will the oil cartel put black gold on the blockchain?
Liquid Gold vs Digital Gold: Why Bitcoin Beats Oil in the Current Climate
23.3.2020
Extreme volatility. Sudden loss of value. A purported store of value. An economic hedge. An alternative to gold. On the face of it, bitcoin and oil have a lot in common. Both markets have been buffeted by the covid-19 economic downturn, but while bitcoin has stabilized, oil keeps plummeting. What...
Oil Price Down After OPEC Deal Failure, Crypto Markets Severely Hit
9.3.2020
Global oil prices plunged more than 26% on Sunday after the OPEC failed to strike a price deal with its allies. Saudi Arabia, the largest producer of crude oil in the world, slashed the oil prices along with planning to increase oil production further to be ready for a possible price war....
As Oil Demand Falters, OPEC Decides To Keep Output Cuts Into Next Year
1.7.2019
The OPEC countries’ share of oil production may have become far less than what it used to be, but the institution is still regarded as one of the most powerful bodies when it comes to the oil industry. The soaring production levels of shale oil in the United States and the weak outlook with regards...
Saudi Arabia States Oil Producers are Looking to Reduce Inventories
22.5.2019
One commodity that almost always sends investors into a bit of a tizzy is oil, and due to the current fragility in the oil market, there has been a lot of concerns from investors all over the world. In a recent report, Bank of America had even stated that the price of Brent crude could …
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