Crude oil tankerGetty Images OPEC+ can’t cut oil output enough to push prices higher than where they’re at. According to one expert, that’s because the US is producing a record amount of oil. A softening economic outlook will hit oil demand next year. Oil prices have been edging higher this week, but there’s not much […]
Iran has been ramping up the production of highly enriched uranium, the International Atomic Energy Agency (IAEA) said on Tuesday, reversing a slowdown that started in the middle of the year. IAEA chief Rafael Grossi informed the organization’s member states on Tuesday, a spokesman in Vienna said. Production had previously been scaled back in mid-2023. […]
Samsung (005930.KS) is delaying chip production at its new plant in Texas until 2025, according to Bloomberg and the Seoul Economic Daily. This comes after Taiwan Semiconductor Manufacturing Company (TSM) delayed the opening of its new Arizona plant. Yahoo Finance’s Jared Blikre and Brad Smith discuss the news. For more expert insight and the latest […]
Ukrnafta has commissioned a high-yield oil well in eastern Ukraine, boosting its daily oil production by an impressive 51.4 tons. The initial flow rate of the extracted oil is notably water-free, marking a significant achievement for the company. Ukrnafta implemented cutting-edge techniques during the drilling process, including using a specially formulated drilling fluid based on […]
Once upon a time in Hollywood, a team of production designers conjured some of the most unforgettable Christmas towns in film history — from the candy cane lanes in Elf and the Gothic towers of The Nightmare Before Christmas to the whimsical corners of Whoville in How the Grinch Stole Christmas. Creating the overall look and style […]
Angola has announced it is leaving the Opec oil producers cartel after it battled with the group over lower production quotas this year. Diamantino de Azevedo, the African nation’s oil minister, said Angola “does not gain anything by remaining in the organisation”, according to state news agency Angop. The country joined Opec in 2007. Disagreements […]
Something about the Hyundai N Vision 74 fuel-cell electric concept car inspires a special kind of collective yearning. There have been several speculative reports of the vehicle going into production, followed by several responses from Hyundai executives that, “No, it is not.” The hunger even exists inside the company, the automaker’s chief creative officer and […]
(Bloomberg) — Angola announced it’s leaving OPEC following 16 years of membership amid a dispute over oil production quotas, while the cartel tries to buoy global prices. Most Read from Bloomberg Luanda had rejected a reduced output limit imposed by the leaders of the cartel to reflect the country’s dwindling capacity. The decision to leave […]
Mass production of Ukraine’s Cobra strike drone has officially commenced, Army of Drones reported on Dec. 20. With a price tag of just $2,000, the Cobra is more cost-effective than both foreign and domestic counterparts, including the Iranian Shahed flying bomb drone, with which Russia has been attacking Ukrainian cities since last 2022. Read also: […]
Oil and Gas Drilling Rig over Offshore PlatformGetty No matter how much OPEC cuts oil output, other countries will “fill the hole,” a senior equity trader said. A surge of supply from non-OPEC nations like US, Brazil, and Guyana has surprised oil markets this year. “We’re looking at 2024 and we’re concerned that the market […]
The Ukrainian Defence Ministry has reported that Ukraine is stepping up production of kamikaze drones and plans to produce 155mm ammunition on its territory in quantities that will cover the difference between its needs and the assistance provided by partners. Source: Ivan Havryliuk, Ukraine’s Deputy Defence Minister, in a comment to the BBC Ukrainian Service […]
Dec. 17—State lawmakers will once again head into the legislative session with record oil production in New Mexico pumping up tax revenues to its highest level ever — a trend that’s buoying most state officials while raising concerns among conservationists about the leverage it gives the industry to thwart anti-pollution efforts. New Mexico’s oil production […]