LONDON—OPEC and its allies will decide on Thursday whether to release more oil into the market or restrain supply amid big gyrations in crude prices, a U.S. release from oil reserves, and fears over the new Omicron coronavirus variant. Brent has tumbled to about $70 a barrel, down from October’s three-year highs above $86. Prices…
OPEC+ Oil Output Decision in the Balance as Omicron Hammers Prices
December 2, 2021
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US ‘Deeply Concerned’ Over Reports Taliban ‘Disappearing’ Ex-Afghan Officials
The chief U.S. envoy to the Taliban on Wednesday expressed concern over emerging reports that the Taliban terrorist group has summarily killed or forcibly “disappeared” more than 100 former police and intelligence officers since seizing control of Kabul in August. Thomas West, who formerly served as the deputy special representative, said on Twitter that the…
At Least 67 Arrested, Dozens Injured in Iran as Thousands Protest Water Shortages
Protests in the central Iranian city of Isfahan over water shortages turned violent on Saturday as riot police cracked down on demonstrations and arrested 67 people while dozens were injured, according to local reports. Thousands of demonstrators have set up tents to protest near the dried-up bed of the Zayandeh Rood river—the largest river in the drought-stricken region—since…
UN Committee Decides Against Taliban Representation of Afghanistan
A United Nations credentials committee on Wednesday decided against allowing the Taliban to represent Afghanistan at the world body. After a closed door meeting on Wednesday, the chairwoman of the nine-nation Credentials Committee of the General Assembly, which approves the diplomatic representation of each U.N. member state, said the committee had chosen to defer its…
Tel Aviv Becomes World’s Most Expensive Place To Live In
Tel Aviv, the economic and technological center of Israel, has pushed all cities down to perch atop the most expensive cities’ list currently in 2021, according to a global index (pdf) which tracks the cost of living in 173 cities across the world twice per year. The Economist Intelligence Unit’s (EIU) 2021 Worldwide Cost of…
OPEC+ Begins Two Days of Talks Amid Oil Rout
December 1, 2021
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LONDON—OPEC and its allies begin two days of meetings on Wednesday to decide whether to release more oil into the market or restrain supply amid an oil price rout and fears the Omicron coronavirus variant could weaken global energy demand. Oil prices fell to near $70 a barrel on Tuesday from as high as $86…
Stocks Roar Higher as Traders Park COVID-19 and Fed Jitters
December 1, 2021
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LONDON—Stock markets roared higher on Wednesday, reversing much of the previous session’s losses, as investors used the dip in prices to bet the latest COVID-19 variant would not derail the economic recovery. The EUROSTOXX rose 1.1 percent in early trading while Britain’s FTSE 100 rallied 1.3 percent and Germany’s DAX 0.75 percent. Wall Street futures…
Rights Group: Taliban Kill, Abduct Dozens of Ex-Officers
KABUL—Taliban fighters have summarily killed or forcibly “disappeared” more than 100 former police and intelligence officers since taking power in Afghanistan, Human Rights Watch said in a report Tuesday. The group pointed to continuing retaliation against the armed forces of the ousted government despite an announced amnesty. Taliban forces have hunted down former officers using…
OPEC Oil Output Boost in November Again Falls Short of Target
November 30, 2021
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LONDON—The increase in OPEC’s oil output in November has again undershot the rise planned under a deal with allies, a Reuters survey found on Tuesday, bringing a lack of capacity in some producers into focus ahead of a policy meeting this week. The Organization of the Petroleum Exporting Countries (OPEC) pumped 27.74 million barrels per…
Global Jet Fuel Demand Under Pressure From Omicron, Border Curbs
November 30, 2021
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Global jet fuel markets stayed under pressure on Tuesday as more countries expanded border restrictions to keep the new Omicron coronavirus variant at bay, prompting travelers to reconsider their plans. Jet fuel demand—the biggest laggard in the oil complex—had been forecast to post the strongest growth of 550,000 barrels per day to 5.9 million bpd…
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