Showing 1 - 10 of 17
Insurer: Disaster losses fell in 2025 but picture still ‘alarming’
AFP, Published on 13/01/2026
» FRANKFURT - Natural disaster losses worldwide dropped sharply to $224 billion in 2025, the reinsurer Munich Re said on Tuesday, but warned of a still “alarming” picture of extreme weather events likely driven by climate change.
Wars and Geopolitical Tensions Drive Global Oil Prices Higher
Published on 19/09/2025
» Global crude oil prices have edged higher in recent months as prolonged wars and geopolitical tensions continue to disrupt energy supplies. Between July 1 and September 15, 2025, ICE Brent crude rose by US$1.51 per barrel from the previous quarter, averaging US$68.16 per barrel. The increase was driven mainly by the escalating war between Russia and Ukraine. Although US President Donald Trump and Russian President Vladimir Putin met in Alaska on August 15 to discuss a peace deal and ceasefire, the summit ended without agreement, and both sides continued retaliatory strikes.
OPEC+ Delays Production Increase Following a Drop in Oil Prices.
Published on 18/09/2024
» The average price of ICE Brent crude oil in Q3 2024 (from July 1 to September 9, 2024) was $80.4 per barrel, down from an average of $84.9 per barrel in Q2 2024. This decline is attributed to OPEC+’s planned increase in crude oil production by 180 KBD per month from October to December 2024, and by 213 KBD per month from January to September 2025. (Previously, OPEC+ had voluntarily reduced production by 2.2 million barrels per day.) Additionally, demand declined as the US driving season ended, and the political situation in Libya stabilized. However, on September 5, 2024, eight OPEC+ members announced a two-month delay in the production increase plan.
Oil prices remain under pressure after the OPEC policy change to increase oil production
Published on 18/06/2024
» ICE Brent crude oil prices have been hovering around $80 to $90 per barrel since early February, supported by OPEC+ crude oil production cuts and conflicts in the Middle East. However, at the beginning of June, prices fell back below $80 per barrel after an OPEC+ policy change. On June 2nd, the OPEC+ group decided to increase oil production by a total of 2.2 million barrels per day (0.18 million barrels per day per month from October to December 2024 and 0.213 million barrels per day per month from January – September 2025) which is the main supply pressure on prices. PTT Trading’s international market analysis team predicts that ICE Brent crude prices will range between $75 and $85 per barrel in Q3 2024.
Global debt dominates G20 finance talks
AFP, Published on 17/07/2023
» GANDHINAGAR, India: G20 finance ministers and central bank chiefs opened talks Monday on debt restructuring deals, multilateral bank reform and finance to tackle climate change, as they aim to bolster a sagging global economy.
Oil Prices Predicted to Recover Amidst Global Economic Rebound
Published on 14/07/2023
» The average price of ICE Brent crude oil in the second quarter of 2023 (April 1 - June 30, 2023) remained stable at $77.75 per barrel, indicating tighter supply in the market compared to the previous quarter. Following the OPEC and its allies (OPEC+) meeting on April 3, 2023, a consensus was reached to reduce crude oil production by 2 million barrels per day until the end of 2023. Additionally, several countries, including Saudi Arabia, the United Arab Emirates, Kuwait, Oman, Iraq, Algeria, Kazakhstan, and Gabon, volunteered to implement additional production cuts totalling 1.16 million barrels per day from May to December 2023. Furthermore, Russia extended its planned production cut by 500,000 barrels per day from March to June 2023 until December 2023. As a result, the total production reduction from May to December 2023 stands at 3.66 million barrels per day.
US wants more oil, but OPEC+ can't pump much faster
Dmitry Zhdannikov and Ahmad Ghaddar of Reuters, Published on 23/11/2021
» LONDON: US pressure on OPEC+ to pump more oil and cool red-hot crude prices has shone a spotlight on a relatively new problem for the producer group: it doesn't have much extra capacity to hike output faster, even if it wanted to.
Oil demand recovers as the massive distribution of COVID-19 vaccination stimulates economic activities
Published on 27/09/2021
» In the third quarter of 2021, ICE Brent price is traded in a range between 65 and 77 USD per barrel with an average of 72.7 USD per barrel, increased from the second quarter at 69 USD per barrel. A rise of oil demand due to a relief of lockdown in several countries positively influences an increase in crude oil prices.
Price tag on the planet? Helping business value nature
AFP, Published on 01/09/2021
» PARIS - From agriculture to housing to transportation, economic growth has historically depended on burning through finite natural resources and rearranging natural landscapes.
In climate reversal, Biden okays new oil and gas mega auction
AFP, Published on 01/09/2021
» WASHINGTON: US President Joe Biden's administration on Tuesday announced plans to open more than 80 million acres in the Gulf of Mexico for oil and gas exploration after a court ruled against the administration's pause in leasing.