OPEC+ sees stable economic growth supporting oil demand
Robust economic conditions and sustained consumer spending prompted OPEC+...
Robust economic conditions and sustained consumer spending prompted OPEC+ to keep its global oil demand growth forecasts steady at 1.29 million barrels per day this year and 1.38 million bpd next year. The group noted that recent trade agreements between the US and key partners have reduced uncertainty. At the same time, OPEC+ is pressing ahead with output hikes to its defend market share, even as prices soften and nonmember output expands.
U.S. officials ramp up pressure on EU to ease methane rules
Energy Secretary Chris Wright and Interior Secretary Doug Burgum are...
Energy Secretary Chris Wright and Interior Secretary Doug Burgum are using a diplomatic tour in Europe this week to press EU officials to reconsider a methane regulation that could hinder US energy exports. The American Petroleum Institute supports the administration's stance, describing the regulation as "ill-conceived," while Wood Mackenzie analyst Nacho García-Lajara believes exemptions or looser requirements for North American liquefied natural gas are likely.
Fourth round of US–China trade talks: Treasury Secretary...
Fourth round of US–China trade talks: Treasury Secretary Scott Bessent and other US representatives are in Madrid talking trade with Chinese officials. The two sides met for almost six hours yesterday, a senior Treasury official told Bloomberg, noting that TikTok has already come up during negotiations. The video app’s Beijing-based owner, ByteDance, faces a Wednesday deadline to divest TikTok or get shut down in the US. A source familiar with trade discussions told CNBC the deadline will likely get extended…again, like it has three other times since President Trump took office in January.
Two men in Utah were arrested on suspicion of placing a bomb under a news media vehicle in Salt Lake City. The explosive was lit, but did not detonate.
New York Gov. Kathy Hochul endorsed Zohran Mamdani for NYC mayor, after he vowed to apologize for calling the NYPD racist in 2020.
Elon Musk’s xAI laid off at least 500 workers responsible for training its Grok chatbot, according to Business Insider.
A Northrop Grumman cargo ship was launched to the International Space Station yesterday with a SpaceX Falcon 9 rocket.
Demon Slayer: Infinity Hunter earned $70 million in its opening weekend at the US box office and set a record for an anime film in North America.
OPEC, the Organization of the Petroleum Exporting...
OPEC, the Organization of the Petroleum Exporting Countries, was founded in Baghdad, Iraq, in 1960 to coordinate oil policy among major oil exporters. Initially a reaction to Western dominanceof global oil markets, it evolved into a powerful bloc capable of reshaping global energy prices, geopolitics, and development.OPEC works by setting production quotas for each member country. By coordinating supply cuts or increases, the group can tighten or loosen global oil supply, pushing prices up or down.
Today, OPEC has 12 member countries spanning the Middle East, Africa, and South America—Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates, and Venezuela—and works closely with nonmember oil-producing allies in the wider OPEC+ group.
It's Sunday, Sept. 14. On this day in 1847, US Gen. Winfield Scott captured Mexico City, concluding the military phase of the two-year North American conflict. We took a look at this lesser-known war and its causes, impact, and legacy.
The Mexican-American War was a conflict between 1846 and 1848, sparked by territorial disputes following the US annexation of Texas. The war—America’s first fought mainly on foreign soil—involved around 150,000 troops fighting across present-day Texas, California, New Mexico, and deep into central Mexico (listen to an overview here).
After gaining independence from Spain in 1821, Mexico endured decades of internal upheaval. American settlers poured into Texas under Mexican land grants, eventually outnumbering locals and rebelling to form the Republic of Texas in 1836—which the US annexed in 1845, to Mexico's chagrin.
The Treaty of Guadalupe Hidalgo, signed in 1848, ended the war and transferred over 500,000 square miles of land (55% of Mexico’s total territory) to the United States—including present-day California, Arizona, New Mexico, and more—in exchange for $15M (roughly $600M today).
