Articles by tag: OPEC
Earlier this month, Saudi Arabia and OPEC+ oil producers announced they would cut oil output by more than one million barrels per day. Subsequently, energy prices spiked, with the current national gas average sitting at $3.65 per gallon. But oil and gas prices aren’t the only thing shifting right now…worldwide trade currency is for some…
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Why Have Oil Prices Dropped And What to Make of China’s Reduced Demand
Oil prices have dropped to their lowest level since before the war in Ukraine, after Saudi Arabia and other OPEC+ countries were reported to be considering increasing their output after China’s tightened COVID restrictions. Will significantly-low oil prices genuinely hurt the outlook for U.S. demand, and what other geopolitical forces are at play? Economist Tim…
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What Another 15 Million Barrel Tranche Means for Oil and Gas Prices
According to Washington Post, the United States is regarded as the world’s oil barrel of last resort, but what does it mean for hundreds of millions of Americans when depletion becomes an addressable concern? On October 19, “the Biden administration announces another 15-million-barrel tranche to come out of the Strategic Petroleum Reserve (SPR) for…
Energy
Are Oil Prices Going to Keep Rising?
Daniel Hynes, Senior Commodities Strategist at Australia & New Zealand Banking Group Ltd., discusses the outlook for oil, which climbed back above $76 a barrel after OPEC+ ended days of talks without reaching a deal to bring back more halted output next month. Host: What are you expecting in terms of prices, given what we’re…
Energy
OPEC+ May Raise Output by 500,000 BPD
Energy Aspects analyst Amrita Sen says that OPEC and its allies are likely to raise output by “anything up to 500,000 barrels per day” even as the cartel doesn’t have the capacity to meet potential increased summer demands. Tune in below as OPEC+ heads for a meeting that could prove crucial for oil prices. …
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Oil Producers Face a Long Haul Back to Business as Usual
(Bloomberg) This is no time for the world’s oil producers to start adding supplies to the global market if they want to drain a glut that built up because of Covid-19. That’s the conclusion that comes out of the latest monthly forecasts published by the world’s three major oil agencies — the International Energy Agency, the…
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Shale CEO on US Oil Output, ”The economics wouldn’t support adding rigs [in 2021]”
One of the top producers in America’s shale patch doesn’t see drilling picking up significantly even after this week’s surprise Saudi pledge to curb production sent prices surging. “I really don’t see much increase in the Permian Basin or the U.S. shale over the next several years,” said Scott Sheffield, chief executive officer of Pioneer…
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Leverage Data-Driven Tools and Local SEO for Maximum Search Engine Rankings
As businesses continue to navigate the digital landscape, data-driven tools are more crucial than ever for effective SEO strategies. Understanding and implementing the proper SEO practices can make a significant difference with evolving algorithms and competitive markets. Given that 75% of users never scroll past the first page of search results, this statistic underscores…
On-Device AI is Today’s Tech Innovation, Competition and Market Leadership Driver
On-device AI revolutionizes the tech landscape, making it a critical factor for industry dominance. This cutting-edge technology directly integrates advanced AI capabilities into devices, transforming consumer and enterprise applications. This shift stems from the need for improved performance, reduced latency, enhanced data privacy & security, and personalized user experiences. With advancements in neural processing…
The Role of AI in Modern Supply Chains: Insights from Aaron Hatfield at Arvist
Artificial intelligence rapidly transforms modern supply chains, with companies like Arvist leading the charge. In a recent episode of Hammer Down, hosted by Mike Bush, Aaron Hatfield, the Head of Sales at Arvist, sheds light on AI’s practical applications and benefits in enhancing supply chain operations. Is AI in the supply chain a double-edged…
Training New Semiconductor Manufacturing Professionals is Key to Meet Coming Domestic Manufacturing Demand
Over the past few years, the U.S. has made significant strides in semiconductor manufacturing, driven by substantial investments and strategic policies. With the CHIPS Act expected to triple domestic semiconductor manufacturing capacity by 2032, the need for a skilled workforce is more urgent than ever. This discussion explores the key question: What does the…