Articles by tag: OPEC
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Ericsson and the Convergence of 5G and Automation in Manufacturing
The Convergence of 5G and Automation in Manufacturing: A New Industrial Revolution The manufacturing industry stands at an inflection point. Advances in 5G technology and automation are coming together to transform the way products are made, and the role that humans and machines play in this process. Per Treven, Director of Business Development at Ericsson, […]
Drone Delivery Faces Cybersecurity Threats, But Advanced IoT Can Be its Resolution
Cybersecurity in beyond visual line-of-sight drone delivery is critical and this makes for a pressing need to shield Internet of Things (IoT) systems, particular advanced IoT. With the FAA granting UPS the green light to perform drone deliveries, there are some concerns. Some experts emphasize the importance of leveraging cybersecurity measures to protect […]
Personalizing the Dining Experience Through Music
When people go to a restaurant, personalizing the dining experience is a critical factor in making an impact that keeps customers returning. What better way to capitalize on that experience than through music? In recent years, the restaurant industry has seen a significant shift towards personalizing the dining experience for guests. As the industry […]
What’s Driving Energy Prices This Week?
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 […]
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 […]
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 […]
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 […]
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. […]
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 […]
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 […]
Oil Demand is Down, But Will it Ever Come Back?
It comes as no surprise that oil demand is down in the age of COVID. Crude producers are cutting supply in response to lackluster demand. Though the details of a promising vaccine have boosted oil market growth for the time being, The International Energy Agency (IEA) does not forecast that a vaccine will significantly […]