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☆ Here's where stocks and inflation could be headed next after the market's stunning reversal
▼ + stars: | 2022-10-14 | by ( Jason Ma | ) www.businessinsider.com time to read: +7 min

Analysts at Barclays raised their forecasts on Fed rate hikes in December and February to 75 and 50 basis points, respectively. Any relief rally that takes hold in the stock market could send the S&P 500 to its first big resistance test around 3,914, Stockton added. High inflation reports could become the norm after more than a decade of sub-2% inflation readings, according to Bank of America. That's because underinvestment in energy production, sticky wage inflation, and aging demographics are set to drive structural inflation for years to come. There's reason to believe the stock market is close to its low point, according to RBC.

☆ OPEC could tip the world economy into recession, warns IEA
▼ + stars: | 2022-10-13 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN Business —Western governments are furious after OPEC+ decided last week to slash oil production by the largest amount since the start of the pandemic. The IEA slashed its forecast for world oil demand growth next year by more than 20%, citing further downgrades to global growth expectations from major institutions. “The massive cut in OPEC+ oil supply increases energy security risks worldwide,” the IEA said. Typically, higher oil prices send non-OPEC producers into action, particularly US shale companies. Supply growth is set to “slow markedly” in 2023, although still reach a record of 100.6 million barrels a day.

☆ Europe makes sharp U-turn from green energy - Qatar energy minister
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +3 min

Sept 29 (Reuters) - QatarEnergy CEO and state minister for energy Saad al-Kaabi said on Thursday that skyrocketing energy prices are "weighing painfully" on the global economy, dampening support for the transition to green energy. "Sadly, the growing economic burden has fizzled the euphoria over the series of energy transition plans, causing severe erosion in public support for reducing carbon emissions," Kaabi told a liquefied natural gas (LNG) conference in Japan. "Many countries particularly in Europe which had been strong advocates of green energy and carbon-free future have made a sudden and sharp U-turn. Analysts estimate Europe will need to import around 200 million tonnes of LNG over the next decade to phase out Russian gas. Kaabi stressed the need to invest in cleaner and renewable energies, including natural gas, to drive capacity and baseload capabilities.

REUTERS/Denis BalibouseSINGAPORE, Sept 27 (Reuters) - Global oil prices may stay under $100 a barrel for the rest of the year as rate hikes from central banks have tightened credit and reduced investments in risk assets such as commodities, commodities trading major Trafigura said on Tuesday. "The balance of risks and what we know today suggests that it would take quite a few changes in the market for oil to trade well above $100," Rahim said. Oil demand could rebound next year if China lifts COVID-19 restrictions and if the U.S. Federal Reserve pauses or cuts interest rates to support growth, he added. These factors, underpinned by underinvestment in the oil sector and low global oil inventories, could eventually push Brent back above $100 a barrel, Rahim said. The oil market is also watching out for possible supply responses from the Organization of the Petroleum Exporting Countries amid lower prices.

☆ Venture Capitalists to Tech Startups: Embrace the Downturn
▼ + stars: | 2022-09-20 | by ( Isabelle Bousquette | ) www.wsj.com time to read: +2 min

Enterprise tech startups are continuing to innovate amid tighter economic conditions, fueled by demand from companies who fear underinvestment in tech could lose them market share, venture partners said. PREVIEWAs CIOs and companies continue putting dollars into those areas, enterprise technology startups are leaning in to meet that demand, the venture partners said. If anything, the tighter economic conditions are making entrepreneurs even hungrier, Mr. Kayyal said. “Obviously, we’re in an uncertain economy, but we see the innovation,” Mr. Kayyal said. We’re gonna see pullback, and we’re gonna see winners and losers in that pullback,” said Mr. Wall.

☆ OPEC+ supply shortfall now stands at 3.5% of global oil demand
▼ + stars: | 2022-09-20 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +2 min

General view of Aramco tanks and oil pipe at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed JadallahCompanies Saudi Arabian Oil Co FollowLONDON, Sept 20 (Reuters) - OPEC+ is now producing below its targets by a record 3.58 million barrels per day - about 3.5% of global demand - highlighting underlying tight supply in the oil market, even as recession fears drag oil prices lower. Nigeria's crude oil production fell below 1 million bpd in August, figures from its regulator show, as the nation grappled with rampant theft from its pipelines and years of underinvestment. read more"It has been struggling for months to fulfil its quota and Saudi Arabia has made it abundantly clear that they would only use thinning spare capacity in case of real emergency," PVM Oil's Tamaz Varga said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ahmad Ghaddar; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

Amin H. Nasser, president and CEO of Saudi Arabian Oil Company, Saudi Aramco, is seen at the 24th World Energy Congress (WEC) in Abu Dhabi, United Arab Emirates September 10, 2019. Under EU plans announced last week, excessive profits from energy companies would be skimmed off and redistributed to ease the burden on consumers. "The conflict in Ukraine has certainly intensified the effects of the energy crisis, but it is not the root cause," he said. The underinvestment comes at a time when spare capacity is thin and demand is "fairly healthy" despite strong economic headwinds. "When the global economy recovers, we can expect demand to rebound further, eliminating the little spare oil production capacity out there," Nasser said.

☆ Saudi Aramco chief is 'seriously concerned' that a rebound of the global economy will kill off any spare oil capacity
▼ + stars: | 2022-09-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Saudi Aramco's CEO warned a global economic rebound could kill off any spare oil capacity out there. That could deepen the world's energy crisis, which has already sent prices in Europe soaring. "When the global economy recovers, we can expect demand to rebound further, eliminating the little spare oil production capacity out there ... that is why I am seriously concerned," Nasser said at an event on Tuesday, Reuters reported. Nasser estimated that spare oil capacity currently only accounts for a mere 1.5% of global demand. "The conflict in Ukraine has certainly intensified the effects of the energy crisis, but it is not the root cause …Sadly, even if the conflict stopped today as we all wish, the crisis would not end," he said.

☆ EXCLUSIVE U.S. Treasury official criticizes China's 'unconventional' debt practices
▼ + stars: | 2022-09-20 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

Yellen's counselor Brent Neiman plans to criticize China's "unconventional" debt practices and its failure to move forward with debt relief at an event at the Peterson Institute for International Economics, a text of his prepared remarks obtained by Reuters shows. Neiman's critique of China's debt practices marks the latest salvo by Western officials and the leaders of the World Bank and International Monetary Fund, who have grown weary of delays and broken promises by China and private lenders. He noted that China had engaged in "unconventional" practices that had allowed the IMF to move forward without obtaining standard financing assurances. "In many of these cases, China is not the only creditor holding back quick and effective implementation of the typical (debt restructuring) playbook. But across the international lending landscape, China’s lack of participation in coordinated debt relief is the most common and the most consequential."

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