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Why OPEC policy decisions will have a major impact on oil prices

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Despite the fall in oil prices, OPEC and its allies policy decisions can have a major impact on oil prices.

 
In May 2023, the total number of rigs drilling for oil and gas was already down by around 7% when compared with its peak in December 2022.

Slower drilling activity eventually translates into slower production growth, creating a delay of up to 6 months.

In the meantime, high levels of production are keeping inventories elevated, especially in the case of gas, which is keeping prices under pressure.

OPEC and its allies are weighing the possibility of further oil supply cuts, despite the fall in oil prices.

OPEC+ and its allies led by Russia, pumps around 40% of the world’s crude.

So, its policy decisions can have a major impact on oil prices.

Bloomberg’s Senior Oil and Gas Analyst Fernando Valle joins us to discuss.

#oil #gas #oilandgas #gasprices #FernandoValle #veronicadudo

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Trump trial: will the jury selection impact the trial’s outcome?

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The Trump hush money trial has progressed with the selection of the first seven jurors, marking a significant step in the legal proceedings.

  • Seven jurors were selected

  • Defense and prosecution lawyers questioned potential jurors for impartiality

  • The judge warned lawyers he would not tolerate disruptions after he said Former US President Donald Trump audibly muttered during a prospective juror’s questioning

The selection of jurors is a crucial step in ensuring a fair trial, as they will ultimately decide Formers US President Donald Trump’s fate in this legal battle, as reported by Reuters.

The process of jury selection involves careful vetting of potential jurors to ensure impartiality and fairness.

Each juror’s background, beliefs, and potential biases are scrutinised to ensure they can render an impartial verdict based solely on the evidence presented in court.

With seven jurors already chosen, the selection process is expected to continue as both the prosecution and defence seek individuals who can objectively weigh the evidence.

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How a ransomware attack would disrupt the food supply chain

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Massive financial gains continue to be one of the top motivating factors behind cyberattacks.

The Information Technology – Information Sharing and Analysis Center (IT-ISAC) has been tracking ransomware incidents and trends since 2021.

Despite government and law enforcement efforts to take down malicious infrastructure, new ransomware strains continue to emerge.

The company just released its analysis of the 2023 ransomware landscape report and insights for 2024.

Jonathan Braley, Director of the Food and Ag-ISAC joins Veronica Dudo to discuss. #IN AMERICA TODAY #featured #ransomware #ransomwareattacks #foodsupplychain

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Curious times for AI & investing as stark reality becomes clear

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Both private funding for startups and corporate mergers and acquisitions within the sector have decreased, reflecting a shift in investor sentiment.

While some AI ventures continue to attract significant investments, experts attribute the overall downturn to challenges in scaling AI technologies and a more cautious investment climate.

Generative AI stands out as a bright spot, experiencing exponential growth in funding despite lingering skepticism among corporate executives.

Amidst this market correction, some view the shift as necessary for a more sustainable investment landscape, predicting stable growth in the coming years.

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