OPEC convened a workshop today to address oil overproduction issues and devise comprehensive compensation plans to make up for previous overages, according to an official OPEC press release. The push for production cut compliance comes as the price of Brent crude is trading down roughly $6 per barrel over the last 30 days. The workshop brought together technical experts from Iraq and Kazakhstan, along with industry professionals from secondary sources, and was prompted by the recent mandates outlined in the 35th OPEC and non-OPEC Ministerial Meeting…

OPEC convened a workshop today to address oil overproduction issues and devise comprehensive compensation plans to make up for previous overages, according to an official OPEC press release. The push for production cut compliance comes as the price of Brent crude is trading down roughly $6 per barrel over the last 30 days. The workshop brought together technical experts from Iraq and Kazakhstan, along with industry professionals from secondary sources, and was prompted by the recent mandates outlined in the 35th OPEC and non-OPEC Ministerial Meeting…

3 de mayo de 2024.- Las intensas lluvias que azotan el estado brasileño de Rio Grande do Sul, en el sur del país suramericano, han dejado al menos 29 muertos y alrededor de 60 desaparecidos, en el "peor desastre" climático de la entidad, informaron las autoridades locales. "Quiero lamentar prof...

3 de mayo de 2024.- La sede principal de Sciences Po París amaneció con un cordón policial este viernes, mientras todos los locales de la prestigiosa universidad de la élite francesa permanecían cerrados. En la noche del jueves, decenas de militantes propalestinos tomaron el edificio de la escuel...

Commodity giant Glencore has held early internal discussions about making a potential approach for mining giant Anglo American, which has just rejected an initial takeover offer from BHP, Reuters reported on Friday, quoting two sources. Glencore, which is active in both commodity mining and trading, hasn’t approached Anglo American yet, and it may not do it as all discussions have been internal and preliminary, one of the sources told Reuters. “We do not comment on market rumor or speculation,” a spokesperson for Glencore…

3 de mayo de 2024.- El Instituto Nacional de Meteorología e Hidrología (Inameh) pronostica cielo parcialmente nublado en gran parte de Venezuela, según publica en su cuenta de la red social X, @INAMEH; excepto en la Guayana Esequiba, Bolívar, Amazonas, norte de Aragua, Carabobo, Llanos Occidentales,...

3 de mayo de 2024.- Desde la capital del estado Sucre, el vicepresidente Sectorial para la Seguridad Ciudadana y la Paz, Almirante en Jefe Remigio Ceballos Ichaso, informó que se logró una reducción del 24.3% de los delitos en el territorio nacional durante este año, en comparación al 2023. El t...

3 de mayo de 2024.- A más de dos mil asciende el número de personas que hasta hoy fueron arrestadas desde el inicio hace dos semanas de las protestas pro palestinas en universidades de Estados Unidos. En el recuento de NBC News, se destacó que las detenciones provinieron de unas 60 universidades ...

Officials from the G7 group of the world’s most industrialized nations are privately admitting that an all-out seizure of frozen Russian assets is no longer on the table, the Financial Times reported on Friday. Ukraine has been pushing for the West to seize the frozen Russian assets, but the U.S., the EU, and various other G20 countries disagree on whether confiscation of assets should be an option, FT notes. G7 officials are privately ruling out the idea of outright asset seizure and are exploring other “ways of extracting funding…

03-05-24.-El precio del dólar en el Banco Central de Venezuela (BCV) se cotizó este 02 de mayo 2024 en Bs. 36,50 por unidad según la última actualización en su página  web oficial y redes sociales.     ...

1. Shell Remains on the Right Track to Recovery - UK-based energy major Shell was one of the rare oil companies to surpass analyst expectations with its Q1 reported profit of $7.7 billion, buoyed by rebounding LNG production. - Shell’s cash flow rose by 6% from Q4 2023 to $13.3 billion, prompting the oil major to ramp up share repurchases by a further $3.5 billion over the next three months. - Compared to somewhat disappointing Exxon and Chevron results, Shell timed its refinery maintenance for the last quarter of 2023, allowing…

Oil prices have dipped to their lowest levels in nearly two months, with U.S. West Texas Intermediate (WTI) and Brent crude being particularly impacted. These declines reflect a complex interplay of escalating supply levels, subdued demand, and challenging economic indicators, all of which signal a potentially extended bearish phase in the oil markets. Supply Factors The unexpected rise in U.S. crude inventories, as reported by the American Petroleum Institute (API), has notably contributed to the downward pressure on oil prices. A significant…

Politics, Geopolitics & Conflict Danish shipping giant Maersk has raised the lower end of its full-year guidance thanks to Houthi attacks that have disrupted Red Sea shipping. Maersk is now expecting Q1 profits of $208 million on $12.4 billion in revenue. That compares to last year’s $2.3 billion in profit on $14.2 billion in revenue. And in the meantime, Iran is claiming that a new front has been established in the Axis of Resistance, with a militia group based in Bahrain claiming to have been behind an attack on Israel that happened…

Last week, I wrote that while Q1 profits were expected to be down this year and energy stock prices were higher, that didn’t mean that energy wasn’t a place to be for long-term investors. Well, the big oil companies have now reported, so does that still apply? The results have been mixed in terms of how the companies performed versus expectations. On Friday, April 26th, for example, Chevron (CVX) and TotalEnergies (TTE) reported beats of analysts’ estimates for earnings per share (EPS), while Exxon Mobil (XOM) and Phillips 66…

While all attention is on the Middle East and the Russia-Ukraine war, Moscow is securing key venues in Africa while Western nations withdraw or are forced out. Late on Thursday, Russian troops entered a U.S. airbase in Niger, after the new military junta there evicted the Americans (some 1,000 personnel) in the aftermath of a July 2023 coup. In an eerie development, both Russian and American troops are now housed at the same base, in different hangers, reportedly. Prior to the July coup, Washington was a key partner with Niger in terms of rounding…

03-05-24.-El discurso antimigración se coló en la campaña electoral en Panamá, que concluye este jueves antes de las elecciones del 5 de mayo, con candidatos que prometen “cerrar” la selva del Darién, la frontera natural con Colombia, mientras otros, con un tono más conciliador, tachan esa propuesta...

03-05-24.-Las autoridades colombianas hallaron sin vida a una niña venezolana de 8 años de edad, que fue reportada el miércoles como desaparecida, en una zona boscosa del municipio de Girón, departamento de Santander (noreste). La niña Kerly Cuevas fue reportada por su madre como desaparecida des...

A limited supply of heavy crude is pushing up heavy crude oil prices and refining costs globally, which could raise costs for shipping and road construction this summer, analysts told Reuters. Recent export cuts from Mexico and the imminent start-up of the expanded Trans Mountain Pipeline in Canada – pushing more of Canada’s heavy crude to the Pacific instead of the Atlantic basin – are adding to existing supply tightness in the global heavy crude market.     The crude supply cuts from the OPEC+ group are limiting…

03-05-24.-En la iglesia católica de la parroquia La Candelaria, en Caracas, se realizó el pasado 23 de diciembre de 2023 el bautizo del hijo de una pareja homosexual masculina, siendo el primero en realizarse en Venezuela. El pequeño, de un año y seis meses, recibió el sacramento de...

03-05-24.-Posterior al anuncio de aumento de ingreso integral a 130 dólares, dirigentes sindicales, jubilados y actores de la oposición se han manifestado rechazando las medidas tomadas por la administración de Nicolás Maduro, pues cuestionan que se mantenga el salario mínimo en 130 bolívares. En...