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By law, Musk’s status as a temporary government official was set to run out as soon as May 30 By Gregory Korte, Jennifer A. Dlouhy and Dana Hull Billionaire Elon Musk said Wednesday that his time as formal adviser to United States President Donald Trump is coming to a close, raising questions about the future …
Musk Departs U.S. Government With Business Empire in Flux Read More »
By Grant Smith Saudi Arabia and its partners have discussed another large output hike, even as prices slide and demand wavers. Saudi Energy Minister Prince Abdulaziz bin Salman, who has recently doubled down on a radical OPEC strategy shift. Photographer: Vladimir Simicek/AFP via Getty Images OPEC+ looks set to push more oil onto a fragile …
By Sybilla Gross and Yongchang Chin Goldman Sachs Group Inc. touted gold and oil as hedges against inflation in long-term portfolios, citing the appeal of bullion as a haven amid concerns over US institutional credibility and crude’s ability to protect against supply shocks. Analysts including Daan Struyven said investors with so-called 60/40 portfolios — an …
Goldman Urges Investors to Buy Gold and Oil as Long-Term Hedges Read More »
Who knew the three judges at the rather obscure United States Court of International Trade had the power to spark a rally in global stock markets and shove the dollar higher against its safe-haven peers? Early in the Asian trading day, news broke the court had declared President Donald Trump’s April 2 tariffs to be …
MARKETS REACT: Markets Hope Trump Tariffs Stay ‘Unlawful’ Read More »
(Reuters) – ADNOC Drilling will acquire a 70% stake in oil services firm SLB’s onshore rig business in Oman and Kuwait for up to $112 million, creating a joint venture it seeks to double in the next year, its chief financial officer said on Thursday. The acquisition, expected to close in the first quarter of …
ADNOC Drilling Buys into SLB’s Oman and Kuwait Rig Business Read More »
Chevron will lay off nearly 800 employees in Texas, according to a notice on Wednesday to the Texas Workforce Commission, part of the U.S. oil producer’s plan to cut up to 20% of its global workforce by the end of 2026. The job cuts will be in Midland County, where Chevron has large operations in …
The vast majority of President Donald Trump’s global tariffs were deemed illegal and blocked by the US trade court, dealing a major blow to a pillar of his economic agenda. A panel of three judges at the US Court of International Trade in Manhattan issued a unanimous ruling Wednesday which sided with Democratic-led states and small businesses that accused …
TRUMPED! Trump’s Global Tariffs Deemed Illegal, Blocked by Trade Court Read More »
By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler OPEC+ met online on Wednesday Eight OPEC+ members to meet on Saturday to decide on July output For an EXPLAINER on OPEC+ output cuts, click here LONDON/MOSCOW, May 28 (Reuters) – OPEC+ agreed on Wednesday to establish a mechanism for setting baselines for its 2027 oil production, …
OPEC+ Adopts Plan For 2027 Baselines Ahead of July Output Hike Talks Read More »
By Gavin Maguire LITTLETON, Colorado, May 28 (Reuters) – U.S. President Donald Trump’s sweeping tax and spending bill calls for drastic cuts to clean energy tax credits that have been major drivers of the boom seen in utility-scale renewable power and battery capacity over the past three years or so. The bill was passed by …
COMMENTARY: Key US Clean Energy Charts That Track Trump’s Tax Bill Impact Read More »
(Reuters) – OPEC+ oil producers have three layers of output cuts in place after agreeing the first cutback in 2022. This year, eight OPEC+ members have started to raise production and unwind the third and most recent tranche of cuts. The 22-member OPEC+ will hold an online meeting on Wednesday, which is not expected to …
