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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...
Saudi Arabia Extends Oil Production Cuts, Further Irking US Officials
3.8.2023
Saudi Arabia announced it will continue limiting oil production through September, extending output reductions that have drawn criticism from Washington. Riyadh Holds Firm on Oil Output Limits Saudi Arabia said Thursday it will keep oil production nearly one million barrels per day below its quota...
Russian Ruble Falls by Over 18% in 2023, Economist Says the Currency Has ‘Stabilized’
25.7.2023
After the Russian currency touched a year low versus the greenback of nearly 92 units for every dollar, economist Robin Brooks said the ruble has stabilized and may eventually be lifted by rising oil prices. The Institute of International Finance Economist urged G7 countries to consider cutting...
Algeria Readies $1.5B BRICS Bid: Major Move for Membership in the Cards?
25.7.2023
As quoted by Ennahar TV, Algerian president Abdelmadjid Tebboune has signaled that Algeria — Africa’s largest nation — is eager to align itself with the BRICS coalition. He conveyed that this significant alignment with the five major emerging economies could potentially unlock unprecedented...
Venezuelan Crypto Ecosystem Still in Shambles 4 Months After Sunacrip Intervention
18.7.2023
The Venezuelan cryptocurrency ecosystem remains on shaky ground four months after the intervention of national crypto watchdog Sunacrip, and the arrest of its head, Joselit Ramirez, due to alleged participation in a $20 billion corruption scandal involving the undeclared sale of crude oil...
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...
Russia Negotiating Free Trade Deal With India to Facilitate Imports in the Face of Sanctions
18.4.2023
Russia is in the process of negotiating a free trade deal with India in order to substitute part of the products and investments that were banned by sanctions enacted after the Ukrainian conflict erupted. Russia is now the largest oil supplier of India, with the country taking advantage of...
Nigerian Forex Inflows: ‘Ambiguous Foreign Exchange Regime’ Blamed After Inflows Dropped to $5.32 Billion in 2022
12.4.2023
Between 2019 and 2022, the value of foreign capital that flowed into Nigeria dropped from $23.9 billion to $5.32 billion. The drop has been attributed to low investor confidence, the high cost of doing business, as well as the country’s high inflation rate. Nigeria will “struggle...
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...
How Crypto Ended Up at the Center of a Potential $20 Billion Internal Corruption Scandal in Venezuela — Bitcoin Mining Shutdown Results
24.3.2023
The establishment of sanctions by the Trump administration towards PDVSA, the state oil company in Venezuela, reportedly forced the hand of the government in the country to find alternative means of payment for crude oil. According to reports, more than $3 billion are missing from these payments...
India-Russia Oil Deals Chip Away at Dollar Dominance in International Trade
8.3.2023
On Wednesday, Reuters reported that Western sanctions on Russia and oil trading between Moscow and India have started to erode the dollar’s decades-old dominance of international oil trade. The oil deals between India and Russia have been settled in other currencies, putting the U.S....
‘Oil Prices North of $200’ per Barrel — Investor Expects Oil to ‘Crush’ Every Investment in 2023
27.12.2022
Amid the dreary global economy, a number of market strategists and analysts believe oil will be the number one investment in 2023. While a barrel of oil is coasting along at prices between $80.12 and $85 per unit, Goldman Sachs analysts think oil will reach $110 per barrel for Brent oil,...
Bitcoin, Ethereum Technical Analysis: BTC Back Above $20,000, USD Hits 2-Week Low
4.10.2022
Bitcoin was back above $20,000 on Tuesday, as the U.S. dollar fell to its lowest point in two weeks versus several G7 currencies. The stronger dollar has impacted purchasing power in cryptocurrencies, and commodities like crude oil, which last week fell to a nine-month low. Ethereum was also...
Researchers allege Bitcoin's climate impact closer to 'digital crude' than gold
30.9.2022
Bitcoin mining raises a “set of red flags for any consideration as a sustainable sector,” according to researchers
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...
While the US Dollar Tramples the Euro, Pound and Yen, Russia’s Ruble Skyrockets Against the Greenback
25.9.2022
While the U.S. dollar has soared in value against a basket of worldwide fiat currencies, Russia’s ruble climbed 4.5% against the greenback this week. During the first week of September, Russia told the press China would pay for natural gas with rubles and yuan. Moreover, Switzerland’s...
Will Bitcoin’s rally sustain? DXY, SPX, GC and WTI could have the answer
9.9.2022
BTC rallies above $21,000 as the US dollar index shows signs of cooling off, but is the wider crypto market beginning to reverse its bearish trend?
Putin Threatens to Let Europe ‘Freeze’ — Russian President Warns ‘We Will Not Supply Gas, Oil, Coal, Heating Oil’
8.9.2022
Following the discussions concerning the inter-governmental political forum Group of Seven (G7) pledging to impose price caps on crude oil and the European Commission talking about fixing electricity prices, Russian president Vladimir Putin explained on Wednesday that Russia will not supply...
Trend Forecaster Gerald Celente Says World War 3 Has Begun — ‘If the People Don’t Unite for Peace, We Are Finished’
9.7.2022
This week Bitcoin.com News spoke with Gerald Celente, the popular trends forecaster, and publisher of the Trends Journal. During a telephone conversation, Celente discussed the uncertainty surrounding the global economy after governments worldwide locked down the world’s citizens over...