Since Kyiv and its European backers panned a 28-point US proposal for a deal to end Russia’s invasion of Ukraine, warning that it was skewed in Moscow’s favor, Ukraine and the United States have been trying to hash out a revised blueprint known as the 20-point plan. Following a meeting with Ukrainian President Volodymyr Zelenskyy in Florida on December 28 -- bookended by phone calls with Russian President Vladimir Putin -- US President Donald Trump said that after nearly four years of full-scale war and inconclusive Russia-Ukraine talks…

Despite the public spat between two of OPEC’s top producers, Saudi Arabia and the United Arab Emirates (UAE), the wider OPEC+ group is expected to confirm at a Sunday meeting that it would hold output steady through the first quarter of 2026, delegates from the alliance told Reuters on Friday.  In recent days, OPEC’s top producer and de facto leader, Saudi Arabia, and the cartel’s large producer and influential member, the UAE, had a very public rift regarding their backing of opposing sides in Yemen.  Saudi forces intercepted…

Despite the public spat between two of OPEC’s top producers, Saudi Arabia and the United Arab Emirates (UAE), the wider OPEC+ group is expected to confirm at a Sunday meeting that it would hold output steady through the first quarter of 2026, delegates from the alliance told Reuters on Friday.  In recent days, OPEC’s top producer and de facto leader, Saudi Arabia, and the cartel’s large producer and influential member, the UAE, had a very public rift regarding their backing of opposing sides in Yemen.  Saudi forces intercepted…

Despite the public spat between two of OPEC’s top producers, Saudi Arabia and the United Arab Emirates (UAE), the wider OPEC+ group is expected to confirm at a Sunday meeting that it would hold output steady through the first quarter of 2026, delegates from the alliance told Reuters on Friday.  In recent days, OPEC’s top producer and de facto leader, Saudi Arabia, and the cartel’s large producer and influential member, the UAE, had a very public rift regarding their backing of opposing sides in Yemen.  Saudi forces intercepted…

Another setback in Russia–Ukraine peace talks and persistent tensions around Venezuela failed to jolt oil markets out of their New Year’s lull. 02 January, 2026 Another round of failed Russia-Ukraine peace talks and continued tensions around Venezuela have failed to wake oil prices from their New Year’s slumber, with ICE Brent staying put around the $60 per barrel mark on the first trading day of 2026. Whilst unlikely, the upcoming OPEC+ meeting on Sunday could provide some excitement as Saudi Arabia and the UAE continue to fight…

India’s government is asking domestic refiners to provide timely and accurate data on a weekly basis of imports of Russian and U.S. crude, as New Delhi plans to show the data to the U.S. Administration as it seeks a trade deal, sources with knowledge of the efforts told Reuters on Friday.   “We want timely and accurate data on Russian and U.S. oil imports so that, when the U.S. asks for information, we can provide verified figures instead of them relying on secondary sources,” an anonymous Indian government official…

Recently, many people have begun talking about the US having a k-shaped economy. In it, a handful of wealthy people are doing very well financially, while many others are falling further and further behind. I expect that the low wages of the majority of workers will soon lead to adverse impacts on businesses, governments, and international organizations. This phenomenon is likely to lead to a very uneven world economic downturn in 2026. The world economy is subject to the laws of physics. The world economy seems to be reaching growth limits because…

Politics, Geopolitics & Conflict The situation in Venezuela has further escalated after a drone strike on a port facility linked to the Maduro government, an incident Trump publicly said was carried out by the United States, without details, with later reports attributing the strike to a CIA operation. Nothing has been formally confirmed. Venezuelan authorities accused U.S. intelligence of direct involvement and raised security measures following the attack. This coincides with more maritime interdiction warnings and the release of more political…

Earlier this week, Aden airport (in Yemen’s interim capital) was shut after a dispute between the Saudi-backed Yemeni government and UAE-aligned STC forces over control of airport operations and security. Government officials attempted to assert authority over the site, which was refused by STC security forces on the ground, leading to a total suspension of flights.  Aden is the interim capital and the main southern logistics hub. The closure shows that the government cannot impose decisions at key infrastructure sites and that Saudi…

Coal India Limited, the biggest coal producer in the world’s second-biggest coal user, opened this year its online coal supply auctions directly to buyers in Bangladesh, Bhutan, and Nepal, as Indian coal supply has swelled amid weaker-than-expected demand in recent months.  Amid an oversupply of coal and weaker demand, India and its top state coal producer are looking to optimize domestic supply and monetize exports to neighboring countries. Until 2026, only middlemen could bid in Coal India’s online supply auctions. This has now…

China’s largest and deepest offshore gas field has shipped its 100th cargo of condensate, China National Offshore Oil Corporation (CNOOC), China’s top offshore crude oil and natural gas producer, said on Friday.  Production of the first phase of the gas field, Deep Sea No. 1, began in 2021, with the second development phase commencing in 2025, said the company quoted by Chinese state news agency Xinhua.  In 2025, total oil and gas output at Deep Sea No. 1 topped 4.5 million tons of oil equivalent, which would be comparable…

Nigeria’s state-owned oil and gas company NNPC this week reported crude oil and condensate production of 1.6 million barrels per day (bpd) for November 2025, up by 1.3% from October levels.  Natural gas output fell slightly to 6.97 million standard cubic feet per day (mscfd) in November, compared with 6.99 mscfd for the previous month. NNPC’s profit after tax and revenues rose in November from October. Going forward, the company plans to “Intensify collaboration with our partners through year-end and into 2026 to ensure improved…

Turkey will start drilling in a deepwater offshore location in Somalia next month in what would be the country’s first foray in deepwater drilling, Ankara’s energy minister told media today. Alparslan Bayraktar did not provide details about the drilling program, only noting that the Somalian project would be Turkey’s first deepwater exploration project abroad, according to Reuters. The move follows Turkey and Somalia inking an energy exploration deal in 2024, which fits with Turkey’s energy supply diversification plans and…

Oil prices inched higher in early Asian trading on January 2, the first trading session of 2026, as geopolitical tensions continued to provide support after the major benchmarks posted their steepest annual losses since 2020. At the time of writing, Brent crude was up 0.30% at $61.03 per barrel, while U.S. West Texas Intermediate had climbed 0.30% to $57.59 per barrel. The gains follow a turbulent 2025 in which both benchmarks fell by nearly 20%, marking their worst annual performance since the pandemic-driven collapse in 2020.  Prices found…

Oil prices inched higher in early Asian trading on January 2, the first trading session of 2026, as geopolitical tensions continued to provide support after the major benchmarks posted their steepest annual losses since 2020. At the time of writing, Brent crude was up 0.30% at $61.03 per barrel, while U.S. West Texas Intermediate had climbed 0.30% to $57.59 per barrel. The gains follow a turbulent 2025 in which both benchmarks fell by nearly 20%, marking their worst annual performance since the pandemic-driven collapse in 2020.  Prices found…

Nuclear power is currently having its "Silicon Valley" moment. After decades of being treated as a dinosaur technology—too slow, too expensive, and too politically toxic—the industry has pivoted toward something it calls the Small Modular Reactor (SMR). The goal is to stop building energy cathedrals and start building energy appliances. The market fundamentals are finally in place for a new era. Global electricity demand is rising at twice the rate of total energy demand, pushed over the edge by the relentless growth of AI data centers…

The Van Allen radiation belts are massive, doughnut-shaped regions of charged particles trapped by Earth's magnetic field. When the Sun blasts Earth with strong solar wind or solar storms, energetic particles are injected into these belts, increasing their overall energy levels. Now, the Van Allen radiation belts are "fully charged," according to space weather observer Stefan Burns. He warns that these belts of energetic particles have been building up due to repeated solar storms over the past few months. "The next solar storm to hit could cause…

Two decades into a successful career manufacturing interiors for the world’s leading auto brands, Tomas, a former senior manager with an Italian multinational company, walked away from the car industry in the autumn of 2025. “I think it's doomed,” the Czech man told RFE/RL, explaining the main reason he walked away from the business. “The industry is doomed.” Tomas has asked that his surname not be used in this story. Europe’s storied car industry is under threat from a flood of high-quality Chinese vehicles…

For more than a decade, Silicon Valley’s most powerful companies have stayed private for longer than ever before, buoyed by deep pools of capital and sovereign wealth funding. But, as interest rates remain higher, AI infrastructure costs balloon and some of the world’s largest private firms mature into businesses of national, and increasingly geopolitical, importance, the public markets are creeping back into view. This is not an IPO boom, with executives continuing to insist they are in no rush, and in many cases, they are probably…

Geothermal is one of the few renewable energy sectors that President Donald Trump has not tried to quash in favour of fossil fuels in the United States. There is significant promise for the future of geothermal power in the United States, even though most projects are still in the nascent stage of development. Both public and private funding are expected to bolster the sector in the coming years.  According to the European Commission, geothermal energy is a renewable energy source harnessed from the thermal energy stored in rocks and fluids…